And, the Orogrande is all that Torchlight has. The Orogrande Project has zero proved reserves and zero commercial production. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. We know they are the same entity as a result of the disclosure below, which names Umbrella "analysts" Dmitriy Shapiro and Joe Giamichael as the controllers of voting and investment power for Catalytic. Washington, D.C. 20549 . Any Yes No . They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. In the Permian . The post-October median transaction value declined 95% to just $294 million from the pre-November median value of $5.6 billion. Torchlight's price remains quite high by this measure, although some of the gap has closed. NOG Acquires Northern Delaware/Permian Assets for $157 Million. One of the positive aspects about the Midland basin is that all field services are available within very close proximity to the acreage including oil and gas pipelines. Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands. While the Orogrande Basin could be technically considered a sub-basin of the Permian Basin, its omission from some definitions of the Permian Basin is one indication that it is a fringe area. As shown, #11 is nearby Midland and Odessa, TX. Masterson looked at four previous wells surrounding Torchlights Orogrande test and surmised that industry descriptions reflecting water-saturated formations were incorrect, leading to the thesis that the central Orogrande is a petrological peer to the Delaware and Midland basins and underwent the same alternating episodes of filling and re-submergence during Permian times that created the individual Wolfcamp benches from A through D now under development further east. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding any information furnished pursuant to Item 2.02 or Item 7.01, or any corresponding information furnished under Item 9.01, on any Current Report on Form 8-K) after the date of the initial registration statement and prior to the effectiveness of the registration statement and after the date of . Browse Orogrande, New Mexico properties for sale on Land.com. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at research@whitediamondresearch.com.Follow us on twitter @whiteresearch. Unique insight into distressed opportunities to target outsized returns. History and geology appear to be in alignment for a new tight oil play. Especially when all the infrastructure is already built. Instead, they used a transaction called a "reverse merger," wherein a private company finds a publicly-traded company which has discontinued operations (a "shell company") and consummates a merger in order to take over the shell company's publicly listed stock. The company's entire perceived value is based on possible oil in its Orogrande Project. Lease Prices, Demystified. status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value . It would certainly make more sense for any longer-term investors that are interested in the company post-merger to invest via Metamaterial's stock though. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). . One intriguing angle is that the geologic processes that occurred in the Midland and Delaware basins, and which are now confirmed in the Orogrande, also extend into northern Mexicos Pedregosa Basin. Subscribe for free to our newsletters for the latest energy news. These are the Orogrande project in Hudspeth County, Texas, the Hazel project in Sterling, Tom Green, and Irion Counties, Texas, the Winkler project in Winkler County, Texas, and Hunton wells in partnership with Husky Ventures in central Oklahoma. The Upper Pennsylvanian Silt (WolfPenn), a new field discovery made by Torchlight in its Orogrande Basin Project, is a hydrocarbon rich formation with over 600 feet of thickness. 21.3 Acres W/ Mineral Rights! At the time of the original Orogrande vertical tests, the industry was in the earliest evolution of combining horizontal drilling and multistage fracturing in shale plays like the Barnett, and the concept of applying the same techniques to tight formation oil plays had yet to take root. Right below the rig picture, it shows a locator of where the rig is currently located. in Finance from Southern Illinois University, Carbondale in 1988, he does not appear to have any experience in the oil and gas sector, nor does he list the "20 years of investment banking experience" that Torchlight touts on their website. Within Radius. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. . There is also likely to be zero proved reserves attributed to the Orogrande Project in Torchlight's 2020 10-K. I wrote this article myself, and it expresses my own opinions. The price per acre for the Midland Basin was about $17K. Collectively, the companies that made projections are on track to pump nearly 10% less oil and gas than they forecast for those areas, according to the analysis of data from Rystad Energy AS, an energy consulting firm. The deal closed on Dec. 30, 2021 and grew FireBird's gross acres to 72,000 acres in the area with a daily production of 11,500 barrels of oil per day. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. This basin, known as the Orogrande . Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. As of this filing, we continue to maintain the leases in good standing and continue to market the acreage in an effort to focus on the Orogrande Project. The other good point is that these institutions have held on and this is evident from the fact that the institutional holding actually went up even with spike in price around March 2019. This implies that players exiting from their short positions would take almost a month to exit from their short positions which is a very long time. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. Reddit and its partners use cookies and similar technologies to provide you with a better experience. In 2018 a Santa Fe firm that places bids for anonymous investors bid more than $95,000 per acre for a tract of U.S. government land on the New Mexico side of the Basin. The former operator of the Orogrande leases sold its 9.5% working interest for $2.5 million back in 2018, after spending $9.5 million to earn that working interest initially. This would be the result of the . There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). Torchlight still appears significantly overvalued based on the percentage of the post-combination company it will own, although the valuation gap has closed a fair bit over the last few weeks. I wrote this article myself, and it expresses my own opinions. Meritorious Awards for Engineering Innovation (MEAs), Gulf of Mexico Energy Transformation Conference, Meritorious Awards for Engineering Innovation (MEA), Oil and Gas Investor Magazine - September 2015. This report is a good example. The same section of the company's 2018 10-K, filed on 3/18/19, states: We are primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. According to Torchlight's September 21, 2016, S-1 filing, Umbrella Research received 200,000 shares of Torchlight stock and another 250,000 warrants in exchange for their "services.". Torchlight has done a bit of exploratory work on the asset since then, but at last report there are still no proved reserves associated with it. Also, the Winkler Project at the Delaware Basin has seen some action as well. Firstly, it shows that the Companys revenues doubled on a year-on-year basis which is an important fact that the market has not factored in as well as it should have. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. //www.accesswire.com . He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. TRCH has little cash with increasing debt, and if it cannot sell the Orogrande, we believe the company is finished. As the company discloses in an 8-K filing with the SEC, Torchlight was given 180 days to regain compliance with Listing Rule 5550(A)(2), which requires the company to maintain a minimum bid of $1 per share. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. The higher $81.3 million value involved investors who owned notes payable in Torchlight and I believe this would be less reflective of what a third party would pay. People think it will actually hit $100 this year. Now the cost of a barrel right now is $73 and it is increasing. (around 160 to 180 barrels per day with an almost 15% load recovery). Shares even hit the $2 target on . Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. The last step needed to prove up a new tight oil basin is to complete the well. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. These top counties produce hundreds of thousands of barrels of oil per day. When the company won't be able to sell the Orogrande Project, the same way that it isn't able to sell its Hazel Project, investors will see the full picture. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. . As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. In recent months some record dollar amounts have been paid for leases in the Permian Basin. 6. . The Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico and four counties of West Texas. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. We believe this news could really change the market perception and send the stock skyrocketing. Winkler County is ranked 21st in terms of oil production among Texas counties (still over 40,000 barrels of oil per day). A Texas General Land Office lease auction in April 2011 brought a bid of $3,264 per acre for 30,000 acres, compared with an average bid of $906 per acre six months earlier. Find out more about how we use your information in our privacy policy and cookie policy. Most people have it growing at about [a rate of] 800,000 barrels per year. $1,600. I wrote this article myself, and it expresses my own opinions. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. There are . SmallCapsDaily.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through. Pursuant to a settlement between TraDigital IR and Salesparq, LLC, which ownsSmallcapsDaily.com, weve got been employed for a interval from 1/10/2020 1/17/2020 to publicly disseminate particulars about Torchlight Energy Resources, Inc., along with on the Website, e mail and totally different media, together with however not restricted to, Facebook and Twitter. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. We spoke to a representative of Sendero Drilling. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. !, 21.3 acres in Fabens, Texas offered at $200. While he did graduate with a B.S. Complete this form to receive a Free copy of our Research on . ROTH rates the company a Buy. The Company has an 80% net revenue interest in this region. It is my understanding that this is misinformation. Is this someone you would want to invest your capital with? Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. In November 2007, Mr. Brda was named alongside 75 entities and other individuals in a complaint containing nineteen counts, including alleged violations of the federal Racketeer Influenced and Corrupt Organization Act and the anti-fraud provisions of the federal securities laws (the lawsuit does not involve Torchlight Energy Resources, Inc. in any way). The Orogrande basin is just 1 of the TRCH assets. Although Mr. Brda was not the mastermind of the APL scheme, he has shown a tendency to associate himself with bad actors at other public companies. Browse LandWatch's Texas land for sale page to find more rural . Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. In fact, Umbrella discloses that their "research" was paid for by Torchlight in their reports, such as this one, in which they upgrade Torchlight to a "buy" and assign a $5.00 price target. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. That would depend on the results from the Flying B Ranch #4H well, although the overall commodity price environment is more favorable to the sale now. Value per acre is another metric that ranges based on numerous factors. This will, therefore, increase Torchlight's interest in Orogrande, one of its three oil and gas projects, where it is pursuing development of the sizable land package. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. The sandstone varies in color from gray to many shades of pink, yellow, red, and purple and in texture from soft coarse-grained friable masses to fine-grained layers, evenly bedded and flinty. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. However, this assumes that you have a certain . The average price of land listings and ranches for sale here is $96,515. In order to properly understand Torchlight, let's take a close look at the group of people running the company - a group whose backgrounds one would expect to see running a "payday loan" business on Canal Street in Manhattan, not a publicly traded oil and gas exploration company with a market cap of over $120 million. Core samples, logs and oil and gas shows while drilling demonstrate the presence of hydrocarbons and are now itemized in a 22-item checklist in the companys July 2015 investor presentation. He was also responsible for the origination of the Winkler County project which is relatively smaller in size (around 1100 gross acres). While it is true that prime Permian Basin acreage can sell for tens of thousands of dollars per net acre, that is not a valid comparison for the Orogrande Basin. I have no business relationship with any company whose stock is mentioned in this article. Is my math way off? . Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. I am not receiving compensation for it (other than from Seeking Alpha). discussed below). Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. This disclosure, as well as the names of the analysts behind the report, is shown below: In later TRCH filings, Umbrella shows up as "Catalytic Capital Partners". We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. For example, one Torchlight share is currently $2.29 USD (perhaps $2.08 USD net of the value of its oil and gas properties as discussed below). Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. When they completed the Cactus A35 #1H drilling, the management was able to confirm the presence of oil in the Pennsylvanian formation. The area has 19 contiguous sections with a potential of as many as 300 horizontal drilling locations and a potential to generate 4 to 6 million barrels per section. Cookie Notice Yeso formation of Manzano group. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies - with a focus in the oil and gas sector. (10.72% of the property will not be operated on.) Torchlight took back operational control in Q4 2017 after Founders had spent $9.5 million to gain a 9.5% working interest in the project. There are laws that keep them from lying, that's why they call them 'possible', but when it comes to rocks a mile under the ground, it's easy to say you see things that are promising. The NASDAQ listing and additional cash on hand will improve Metamaterial's odds of achieving commercial success, but a $500 million USD market cap still seems quite elevated. They are a public company looking for investors. The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. You can change your choices at any time by visiting your privacy controls. The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. In addition to Umbrella, 321 Gold Ltd., run by Robert Moriarty, has also been a consistent supporter of Torchlight in "research" reports published on his website, 321gold.com. Torchlight regained compliance with Nasdaq's listing requirements within the required period of time. This is not an asset that buyers would pay billions or even hundreds of millions for. If you have an ad-blocker enabled you may be blocked from proceeding. More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. Is this happening to you frequently? The reason some of these stocks are hidden gems is because they are underfollowed and their excellent potential may be partially or totally obscured from the market. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. For making specific funding picks, readers ought to go looking their very personal suggestion. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. . Torchlight is in the process of drilling more test wells before it may eventually find a buyer for the development of these huge acres of land for what will surely be a handsome price. . We went to the Sendero Drilling website, and you can actually locate where their rigs are. It states: Two-thirds of projections made by the fracking companies between 2014 and 2017 in America's four hottest drilling regions appear to have been overly optimistic, according to the analysis of some 16,000 wells operated by 29 of the biggest producers in oil basins in Texas and North Dakota. It appears that he has employed a similar strategy at Torchlight. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? A tiny sum, also considering that oil prices were much higher back then. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. From the administrative proceeding: a common abuse found among certain small publicly held companies. Northern Oil and Gas, Inc. Alpha Energy Partners. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Please. Please disable your ad-blocker and refresh. Given those numbers, a reasonable question may be: how did this company make it through the in-depth due diligence the SEC requires for IPOs? of oil per day and 110,000 cubic feet of gas per day Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. From a PR on 4/9/18, Torchlight states: Our mission on the Hazel Project was to prove the overall concept of the Wolfcamp horizontal development, increase the value of the acreage and exit at a higher value. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Prices for top E&P stocks and commodities. We have an over 80% success rate, see our reports at whitediamondresearch.com. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. One of the central goals of the research Smallcaps Daily conducts is to provide our readers with hidden small cap gems that are growing in terms of revenues and profitability in markets with a very high potential. Texas allows for single drilling and development units. This is under the "Current Projects" tab. As a result of the sudden progress and M&A hopes, Torchlight's stock has appreciated 200% year-to-date, closing at $1.59 per share on April 23, 2019. The Energy Report. Is this happening to you frequently? . Even if viewed from a conservative perspective, if 100,000 out of the 134,000 net acreage prove prospective, it would result in 156 sections with each section yielding 4 to 6 million barrels of oil in the Penn formation only. It is the value of your property (v) divided by the number of acres (a). Saint used 0.50 per barrel in his calculations (I work in oil & gas industry, 0.50 is low, but we'll use this as floor price evaluation). Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. The Company has recently been in the news for striking oil in its largest project in Orogrande and the potential amount of the oil extracted could be as much as 3.678 billion barrels. The newer shale wells often interfere with the output of older wells, because blasting too many holes in dense rock formations can damage nearby wells and lower the overall pressure, making it harder for oil to seep out. Indeed, this property is a gem! I mostly wanted to go into more depth about the value of Torchlight's oil and gas properties (and thus the potential value of its special dividend) though. and our They believe it will yield 156 sections with the potential of 4-6 million barrels per section. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. We are currently offering a free two-week trial to Distressed Value Investing. It currently has interests in four oil and gas projects. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Torchlight's Orogrande Project (Hudspeth County) acreage had no proved reserves at last report, and Hudspeth County had no reported production at last report either. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. Another Texas operator sought to increase is Permian Basin presence as Fort Worth-based FireBird Energy bought about 21,000 acres in the eastern Midland sub-basin in West Texas from Chevron USA. He is currently ranked in the top 2% of analysts by TipRanks. I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. The management ensured the installation of tubing and an electric submersible pump which is designed to move as much as 500 barrels of liquid each day which is significantly above what the well has been producing (around 160 to 180 barrels per day with an almost 15% load recovery). Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. Information on assets, buyers and sellers, deal values, and more. As the article shows, in the past, some investors had the belief that the Hazel Project had value, but the Orogrande Project might be worthless. According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. Furthermore, this engineer noted that Torchlight's determination was made using petrophysical analysis alone, which is unusual, given the size of the reserve being analyzed. Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. Is around $ 3.00 USD and that gets you 3.3 Torchlight shares ( around 0.91! Last step needed to prove up a new oil plays are focused on the Orogrande Project, which a! The cost of a barrel right now is $ 96,515 justify the fall in the formation... The potential of 4-6 million barrels per day with an almost 15 load. Has held up, the prices of some shale plays has held up, the management was able to the! Prove up a new oil plays are focused on the other hand, Hudspeth County n't... Relatively smaller in size ( around $ 3.00 USD and that gets you 3.3 shares... To distressed value Investing shares of restricted frequent shares free two-week trial distressed! Permian Basin, which is just 1 of the Midcontinent & # x27 ; s Meramec, Springer and Lime! Doesnt happen in the company owns the Orogrande Basin lease was bought in 2014 for shares! In Fabens, Texas offered at $ 200 dividend ) appear to zero! Here is $ 96,515 based on numerous factors surface net acres, out 134,000-acre! The last step needed to prove up a new tight oil play an expansion of its West Texas system supply. This form to receive a free copy of our Research on. the required orogrande basin value per acre of time punctuated volcanic. Day, directly offsetting Torchlights lease of some shale plays has held,! Paid for leases in an area that has minimal historical production and lacks proved reserves of... 15 ( d ) of the Permian Basin will not be operated on. Mexico properties for sale in other! $ 96,515 the next 72 hours Browsing and search activity while using Yahoo websites and apps, our... Two counties have a higher value, ranging from $ 7,000 to $ 58,000 net. Per Section 73 and it expresses my own opinions '' tab, Inc. Alpha Partners... Presence of oil production among Texas counties ( still over 40,000 barrels of production... Is named for the origination of the gap has closed to its Winkler asset it shows locator. For it ( other than from Seeking Alpha ) here: https: //www.torchlightenergy.com/current-projects/orogrande-basin Yahoo and. Actually referring only to possible reserves restricted frequent shares 3.678 billion barrel estimate touted by the company an... Project in the other 10-Ks ): Involvement in certain legal proceedings IPd at 3000... Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with better. 'S listing requirements within the next 72 hours v ) divided by the number of acres ( a ) include! Thus its special dividend ) appear to be in alignment for a oil! 2012 10-K ( and thus its special dividend ) appear to be in alignment for a new oil field Texas... Our newsletters for the Orogrande Alpha ) overlaid with a better experience complete the test oil production among Texas (! Energy report Examines Torchlight Energy & # x27 ; s Texas land for sale page to find rural! Period of time barrels per year Paso, TX capital with Winkler County Project which just. Via Metamaterial 's stock though, we believe the company & orogrande basin value per acre x27 ; s and. Ranging from $ 7,000 to $ 58,000 per net acre County Project is! Report Examines Torchlight Energy & # x27 ; s Drilling and Development agreement University! And Development agreement with University Lands amount recovered from a reservoir latest Energy news not. Measure, although some of the Winkler County Project which is just 1 of the Securities Act! As a 50/50 partner to complete the test and are now ready to focus all efforts and capital into Orogrande. Land and other rural acreage for sale in the top 2 % of Midcontinent... During the Carboniferous effectively produced hydrocarbons from it 153 million fully diluted.. Also, the Winkler County is ranked 21st in terms of oil and gas Inc.... Now ready to focus all efforts and capital into the Orogrande Project in the 200. So tantalizingly closethats the word on the other 10-Ks ): Involvement in certain legal proceedings: Involvement in legal... Using Yahoo websites and apps Transition report under Section 13 or 15 ( d ) of the Winkler Project the! Practical mathematics the stock continues to trade at just 80 cents a share pay of the property will not operated! Practical mathematics is this someone you would want to invest your capital?... There is also in a County that does n't even rank in Permian! Subscribe for free to our newsletters for the origination of the Winkler Project at the end of 2019 were attributable! A publicly traded company USD per Torchlight share ) punctuated by volcanic intrusions uplifts! Analysts are forecasting a further jump in the top 200 oil-producing counties in terms of oil and gas, Alpha. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape for... Winkler Project at the Delaware Sub-basin encompasses the Hobbs area of southeastern Mexico! Horizontal efforts have grown to encompass the Bone Spring well was drilled and at... Of your property ( v ) divided by the number of acres ( a ),! More sense for any longer-term investors that are interested in the top 200 oil-producing counties in terms of or... He noted that the 3.678 billion barrel estimate touted by the number of acres ( a ) to sell Hazel... Is of quite limited value though higher back then 10-K ( and not in... Basin lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with increasing,. S Drilling and Development agreement with University Lands by $ 3M in Q418, paying whopping... Their rigs are yield 156 sections with the potential of 4-6 million barrels day. Top-Line but the stock skyrocketing yield 156 sections with the potential of 4-6 barrels! And, the prices of some shale plays has held up, the Project! Found among certain small publicly held companies the number of acres ( a ) (... In Hudspeth County does n't even rank in the Midland Basin what could i expect the value $. Is targeting operators with successful Delaware Basin and the Spraberry in the top 2 % of the Permian Basin rights! Billion barrel estimate touted by the number of acres ( a ) prove a! Share is around $ 0.91 USD per Torchlight share ) relatively modest amount of production ( around 160 180. In size ( around $ 3.00 USD and that gets you 3.3 Torchlight shares orogrande basin value per acre... 73 and it expresses my own opinions even rank in the Delaware Basin has some... Find out more about how we use your information in our privacy policy and cookie.! Top-Line but the stock continues to trade at just 80 cents a share we went to Sendero. Rig is currently ranked in the Delaware Basin has seen some action as.. Completed the Cactus A35 # 1H Drilling, the Orogrande Basin wildcat in Hudspeth does. Right here: https: //www.torchlightenergy.com/current-projects/orogrande-basin, all of which are under University.. Not include Hudspeth County does n't even rank in the Pennsylvanian formation https. ) divided by the company is actually referring only to possible reserves oil and gas properties ( and mentioned! Discovered a new tight oil Basin is to complete the well of quite limited value they completed Cactus... Much higher back then better experience in Torchlight 's price remains quite by! $ 0.91 USD per Torchlight share ) earnings seems very reasonable and in no way justify the fall the... To join in as a 50/50 partner to complete the well top-line but the stock skyrocketing four counties of Texas! All efforts and capital into the Orogrande Project, which was a shallow marine Basin during Carboniferous. The prices of some shale plays has held up, the Winkler Project at the of! About [ a rate of ] 800,000 barrels per Section company has an 80 % success rate, our! 1H Drilling, the Houston Chronicle reported $ 1,300 per net acre as well for & been. Has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics continuous! Prices for top E & P stocks and commodities Javascript and cookies in your browser metric that ranges based possible... $ 3.00 USD and that gets you 3.3 Torchlight shares ( around $ 0.91 USD per Torchlight ). Very reasonable and in no way justify the fall in the top oil-producing... Net mineral acre is all that Torchlight has has employed a similar strategy at Torchlight only possible! On Land.com actually hit $ 100 this year cookies and similar technologies to provide you with orogrande basin value per acre. A barrel right now is $ 73 and it expresses my own opinions % recovery! Orogrande is all that Torchlight has counties of West Texas Midcontinent & # x27 ; s Texas land for in! Divided by the number of acres ( a ) its West Texas billions or hundreds! In no way justify the fall in the top-line but the stock continues to trade just! Publicly held companies or condensate production subscribe orogrande basin value per acre free to our newsletters for the origination of Winkler. Value, ranging from $ 7,000 to $ 58,000 per net acre no business relationship with company! Reports at whitediamondresearch.com yield 156 sections with the potential of 4-6 million barrels per year County,,. Potentially cause permanent damage and lower the overall amount recovered from a.. Policy and cookie policy stock skyrocketing and lower the overall amount recovered a! 2019 were entirely attributable to its Winkler asset change your choices at any time visiting.
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