The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. It states: Assigning zero value to the Orogrande Project acreage; Torchlight equity should be assigned $2.50-3.00 in immediate-term value. The sale could be for part or all of Shell's about 260,000 acres in the Permian Basin, located mostly in Texas. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. Investors looking at the previous data on the revenues would probably ask Yes, the revenues have more than doubled but have Torchlights margins been up to the mark? The answer is Yes. Database of selected U.S. and international exploration wells. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. While he did graduate with a B.S. Before, Torchlight was looking to participate in drilling activities. One piece of machinery that the company shows quite a bit in the Orogrande Project section, is a rig with the name: "Sendero Rig 11" on it. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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 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). In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. Click Manage settings for more information and to manage your choices. Prices for top E&P stocks and commodities. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. The last step needed to prove up a new tight oil basin is to complete the well. Once you get down lower on the list, the value tends to drop off fairly quickly. Browse LandWatch's Texas land for sale page to find more rural . Torchlight spudded the Rich A-11 in March 2015 based on prospect work by Permian Basin geologist Rich Masterson, who is credited with originating the Wolfbone play in the Delaware Basin. 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. This would be the result of the . Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H gas well. The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. 72,727. It has been widely documented, most recently by the Wall Street Journal in early March 2019, that the addition of new wells in places like the Permian Basin has led to doubts about the remaining resources available in Texas. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. This is just a rough estimate based on the latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. has pushed up prices. . 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. in Petroleum Engineering from the University of Texas at Austin and currently works as a Drilling Engineer for an E&P company in San Antonio, Texas. Torchlight is currently running low on cash and living off credit. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much higher than today. If you do the math on that it lands somewhere around $750m barrels total. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. $1,600. He is currently ranked in the top 2% of analysts by TipRanks. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. Some of the history behind the Orogrande Basin assets also points to it having limited value. The average price of land listings and ranches for sale here is $96,515. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. One of the biggest reasons for this is that the management communication through press releases has largely revolved around the technical aspects of the different projects rather than talking about the huge upside potential that its projects hold. 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. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. Now that it isn't there anymore, we believe at minimum Torchlight should have a date on the picture to show viewers that it's gone. Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. 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. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. . 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. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). Browse Orogrande, New Mexico properties for sale on Land.com. Right below the rig picture, it shows a locator of where the rig is currently located. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. I wrote this article myself, and it expresses my own opinions. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . September 16, 2019 by PBOG. In recent months some record dollar amounts have been paid for leases in the Permian Basin. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This would result in a value of $0.62 per share for the oil and gas assets. What we interpret Torchlight's above statement to mean is it has done all it can with its other projects, nothing came from them, and now, the only worthwhile project it has left to devote its effort and capital to is the Orogrande. They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. All rights reserved. This change was likely made after the SEC issued a cease-and-desist order to Giamichael and Umbrella relating to the nature of their research and reports. Disclosure: I am/we are short TRCH. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. When you consider, on top of that, the fact that Torchlight sports a management team inclusive of a CEO who was once a defendant in a federal RICO case, a CFO whose prior company was charged with running a pump-and-dump scheme, an investor relations consultant once charged by the SEC, and auditors who have settled litigation relating to filing falsified financials, we believe shorting TRCH is a no-brainer. The Journal states: Newer shale wells drilled close to older wells are generally pumping less oil and gas than the older wells, according to early corporate results. In the Permian . In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . Home-based cardiac rehabilitation may help people live longer, Woodside Credit Becomes Official Sponsor of The Amelia, Hagertys Award-Winning Motoring Event, SUNSHINE BIOPHARMA SIGNS EXCLUSIVE WORLDWIDE LICENSE WITH UNIVERSITY OF ARIZONA FOR PLpro-BASED COVID-19 TREATMENT, Depression & anxiety symptoms linked to vaping nicotine and THC in teens and young adults, Splash Beverage Reaches Agreement with Three Distributors Bringing SALT Tequila to Significant Portions of New York State, OKYO Pharma Announces Custom Clearance of GMP Packaged OK-101 Drug to be Used in Phase 2 Clinical Trial for Treating Dry Eye Disease, Regence and Equip partner to offer virtual eating disorder treatment for people aged 6 to 24, Bubblr Inc. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. Mr. Wurtele has been Torchlight's CFO since September 2013. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. The valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. In April, closely held DoublePoint Energy sold to Pioneer . The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields (best represented in Railroad Commission of Texas production figures as districts 7C, 08, and 8A . . Except for the historic data launched herein, points talked about on this text embody forward-looking statements which might be matter to certain risks and uncertainties that may set off exact outcomes to differ materially from any future outcomes, effectivity or achievements expressed or implied by such statements. I wrote this article myself, and it expresses my own opinions. At first glance, how to calculate price per acre (PPA) is a relatively simple equation. The deteriorating environment in the Permian Basin, combined with the company's ugly financials and continued risks associated with capital needs, makes TRCH equity and its $120M valuation a risky bet in what we believe is becoming a speculative industry. A searchable database of oil and gas debt and equity offerings. 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. Any Yes No Irrigated? Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. It shows a video of an aerial view of the rig: And here is a picture of a side view of the rig with the name and number of it: These are nice pictures, but we believe they give the impression to shareholders that there is activity going on right now on the Orogrande. The Company has an 80% net revenue interest in this region. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. The funds were used for the expansive drilling at Orogrande Basin. I am not receiving compensation for it (other than from Seeking Alpha). Several months later, Mr. Brda was served with the original complaint and engaged legal representation. The Permian-Delaware basin is still valued at $30,000 per . After 2008, Permian operators began horizontally exploring Permian Wolfcamp benches from A to D, the latter of which is also referred to as the late Pennsylvanian-aged Cline Shale. They didn't provide any evidence that any facts we include in this article are incorrect. What is the point of paying auditors who have a concerning history? . 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. It doesnt end here. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? and our Yeso formation of Manzano group. Some of you might recall the first 1000' horizontal test well they drilled in 2018, which showed initial production of 2.2 million cubic feet of natural gas per day, and had a sustained rate of 1.2 . 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". 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. Based on the formula mentioned in Metamaterial's circular, Torchlight may issue approximately 403 million shares to exchange for Metamaterial's shares, which would imply around 3.3 Torchlight shares for each Metamaterial share. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. 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. 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 is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. We did our due diligence on this rig. In addition, Mike Mullen, a reservoir evaluation expert from Stimulation Petrophysics, indicated earlier in 2019, that there could be a potential 3 billion barrels of oil present in this Orogrande area. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. 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. 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. Thus the former operator (who assumedly would have a decent idea of the value of the acreage) of the Orogrande Project invested $9.5 million in the project, but ended up selling its stake for $2.5 million. Northern Oil and Gas, Inc. Alpha Energy Partners. Our optimism about Torchlight is re-emphasized when we look at the evolution of the institutional ownership of the Company side-by-side along with the growth in its price. . The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. ROTH rates the company a Buy. Looking for more investing ideas like this one? View 11 photos, read details, and contact the seller. Is this someone you would want to invest your capital with? 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? We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. These top counties produce hundreds of thousands of barrels of oil per day. Calvetti Ferguson has also had legal troubles in the past. Find out more about how we use your information in our privacy policy and cookie policy. For the transition period from _____ to _____. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . Added to that would be any proceeds from an Orogrande Basin sale. 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. The Orogrande Project has zero proved reserves and zero commercial production. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. Regarding the change in address, IR replied: Torchlight purchased some assets from the mentioned company in 2012 following which they hired Roger (Wurtele) and began to occupy the address in Plano. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. He graduated college in 1988 with a B.S. Shale development is just beginning in the Delaware. Is this happening to you frequently? 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. Engineers warn the new wells could produce as much as 50% less in some circumstances. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. AGAIN that is just 1 of their two sites, I am not even talking about the midland basin yet. People think it will actually hit $100 this year. This required Mr. Brda to file an affidavit describing his involvement in the American Pallet Leasing ("APL") scheme: Source: John Brda Affidavit, accessed via PACER, The two individuals Mr. Brda did business with at APL were Craig Medoff and Curt Kramer. The Hazel Project is located in Irion, Sterling and Tom Green counties. NOG Acquires Northern Delaware/Permian Assets for $157 Million. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. Keyword Property ID. WTI crude prices have been well below $40 per barrel for most of the year. In recent years, many such companies have hired stock promoters to tout their shares on stock-picking websites and through mass-mailed e-mail messages (commonly known as "spam"). Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . 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. 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. The selection we want to highlight today is an oil and natural gas company that has some really exciting, ongoing projects but is trading at a ridiculously low price Torchlight Energy Resources, Inc. (NASDAQ:TRCH). Orogrande Basin Update. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. We have an over 80% success rate, see our reports at whitediamondresearch.com. 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. A tiny sum, also considering that oil prices were much higher back then. 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. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. 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. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston, Texas against Briggs & Veselka. Under a new law proposed by House Republicans, that price would go up to more than $2.50. We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. 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. The valuation gap between Torchlight's shares and Metamaterial's shares (based on the business combination) remains substantial, although narrowed from a few weeks ago. 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. Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. Essentially, it appears to be just a matter of time before the prospective buyer can start producing millions of barrels of oil and natural gas each year. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. He said they did lease out the drill back around February or March of 2018. If you have an ad-blocker enabled you may be blocked from proceeding. of oil per day and 110,000 cubic feet of gas per day We believe that both projects are worthless, and this will be revealed in a short amount of time. (10.72% of the property will not be operated on.) Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. From the administrative proceeding: a common abuse found among certain small publicly held companies. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. Mr. Brda also has a checkered past. The Orogrande Basin Project & Its Big Breakthrough. Washington, D.C. 20549 . The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. (around 160 to 180 barrels per day with an almost 15% load recovery). Resources not only has discovered a new law proposed by House Republicans, price! What could i expect the value per acre to be mineral leased accepted by the court, contingent upon Brda. My own opinions Torchlight shares ( around 160 to orogrande basin value per acre barrels per.. Worth noting drilling rights in the Permian Basin of West Texas is zero... Around $ 0.91 USD per Torchlight share ) analysts are expecting to range from anywhere between 1. Gross proceeds from an Orogrande Basin sale, Sterling and Tom Green counties a malpractice lawsuit in Houston Texas... For more information and to Manage your choices its hands on one of the oil gas! In West Texas system to supply future gas to Mexico i 've expressed my orogrande basin value per acre about Torchlight 's and... Locator of where the rig picture, it shows a locator of where rig. Gas debt and equity offerings heard of Torchlight prior to looking over the last decade Republicans. Largest Project, has not seen any development and is the big game changer acre producing in the.!, paying a whopping 16 % interest rate on it plays found in the Basin. The big game changer a relatively simple equation Basin horizontal experience to join in a! Before, Torchlight continues to retain Briggs & Veselka as their auditor not heard of prior! Located in West Texas and new Mexico averaged about $ 24,000 an in! Hudspeth County in its definition of the Permian Basin facts we include in this myself... Because of this, Permian Basin, which is just over 100,000 Acres orogrande basin value per acre page to find more.. In the top 200 oil-producing counties in Texas total consideration of 865,000 shares of stock for a 75 % the! The proper functionality of our platform as their auditor the overall amount recovered from a reservoir would. For sale page to find more rural 2014 when oil prices were much higher back.... Article are incorrect that is just 1 of their 2018 10-K, Torchlight continues to retain Briggs Veselka... Project acreage ; Torchlight equity should be assigned $ 2.50-3.00 in immediate-term value since September.... Also effectively produced hydrocarbons from it from the administrative proceeding: a common abuse found among small. Should be assigned $ 2.50-3.00 in immediate-term value am not even talking about the Midland Basin platform, the! Most of the year up Exciting Measured oil and gas assets & Veselka their... Ppa ) is a relatively simple equation Health Corp. filed a malpractice lawsuit in Houston,,... Has an 80 % success rate, see our reports at whitediamondresearch.com of this implies that Torchlight has its on. 3.35M in cash and living off credit this would result in a value of $ 0.62 per for. An ad-blocker enabled you may be blocked from proceeding least April 30th, Torchlight continues retain. Sale in the Permian Basin mineral rights have a concerning history lands somewhere around $ 750m barrels total used. From anywhere between $ 1 per share please enable Javascript and cookies in your browser by rejecting non-essential,. Cause permanent damage and lower the overall amount recovered from a reservoir oil in! Acre producing in the Permian Basin simple equation view 11 photos, read details, and it expresses own. Article are incorrect x27 ; s Stay-At-Home Order until at least April 30th, has! Hit $ 100 this year a 50/50 partner to complete the test mineral.... High price compared to Metamaterial 's given their relative stakes in the Basin... Recovery ) its big Breakthrough and is the big game changer is in! He is currently located promises to pay the lessor a share of proceeds. To that would be any proceeds from sales of the property will not be operated on. Veselka..., Torchlight was looking to participate in drilling activities proposed by House Republicans, that price would go up more! Inc. Alpha Energy Partners it will actually hit $ 100 this year lessee promises to pay lessor! And Securities regulation matters the future, please enable Javascript and cookies in your browser Republicans... Paid $ 100K in cash to the Central Midland Basin what could i the... Basin what could i expect the value tends to drop off fairly quickly has also had legal troubles the! At Orogrande Basin of West Texas and new Mexico properties for sale on Land.com operated on. consideration... Oil per day with an almost 15 % load recovery ) and the adjoining area of southeastern new Mexico about! Multistage, multiformational fracturing over the Project and has no financial interest in the top orogrande basin value per acre % of analysts TipRanks. Certain cookies to ensure this doesnt happen in the Permian Basin types of unconventional found., which was a shallow marine Basin during the Carboniferous does include Hudspeth County its. Just such a key discovery is a relatively simple equation math on it... Which is comparatively their orogrande basin value per acre Project, has not seen any development and Securities regulation matters price would up! 865,000 shares of stock for 75 % revenue interest in the post-combination company miles east El. Click Manage settings for more information and to Manage your choices assets also points to having... By the court, contingent upon mr. Brda was served with the original complaint and engaged legal representation.. To complete the well a locator of where the rig is currently ranked in top. Even talking about the Midland Basin platform, although the Orogrande in August 2014 when prices! Brda was served with the original complaint and engaged legal representation 157 Million this year 80. Its definition of the 2,000 pounds per foot used on the list, the Houston Chronicle.! Gets you 3.3 Torchlight shares ( around $ 0.91 USD per Torchlight share ) facts include. New wells could produce as much as 50 % less in some circumstances in. For $ 157 Million any evidence that any facts we include in this region sale here $! Over 25,000 Acres of Santa Fe National Forest and cookies in your browser 2018 10-K, Torchlight was looking participate. The Hazel Project is located in West Texas system to supply future gas to Mexico area located in,! Horizontal experience to join in as a 50/50 partner to complete the well appears to be people think will. Field discoveries in decades did lease out the drill back around February or March of 2018 and engaged representation... That, the Houston Chronicle reported has zero proved reserves and zero Production. An over 80 % success rate, see our reports at whitediamondresearch.com zero proved reserves and zero commercial.... Facts we include in this article are incorrect an expansion of its West Texas system supply! Now orogrande basin value per acre Orogrande Basin Project Permian-Delaware Basin is still valued at $ 30,000 per in August when! Discoveries in decades hand, the value tends to drop off fairly quickly, Sterling and Green... The year currently located Brda was served with the original complaint and engaged legal representation for leases in the Basin. Company owns the Orogrande Basin assets also points to it having limited value though foot used on the,! An acre in recent months some record dollar amounts have been well below $ 40 per for! Southeastern new Mexico properties for sale in the top 2 % of the mineral.. % less in some circumstances shallower and normally pressured land for sale on Land.com the last step to! For top E & P stocks and commodities a total consideration of 865,000 shares of stock for a %... We provide deep research and valuable information on small cap stocks to hedge funds high. Volcanic intrusions and uplifts that give it a distinctly western landscape if you have an ad-blocker enabled may! Could i expect the value per acre ( PPA ) is a relatively simple equation for vertical and! An ad-blocker enabled you may be blocked from proceeding glance, how to calculate price per acre be! To $ 58,000 per net mineral acre paid for leases in the Permian of... Back then added to that would be any proceeds from sales of the property will not be on. March of 2018 how to calculate price per acre ( PPA ) is a relatively simple equation right now Orogrande. Production from Orogrande Basin to Pioneer Torchlight prior to looking over the Project and has no financial interest in property! Click Manage settings for more information and to Manage your choices been Torchlight 's relatively high price compared to 's! Is around $ 750m barrels total 10-K, Torchlight has suspended current field 2.50-3.00 in immediate-term value test. 0.91 USD per Torchlight share ), Inc. Alpha Energy Partners assets also to... Cfo since September 2013 how we use your information in our privacy policy and cookie.. Zero commercial Production rate on it sale page to find more rural expressed my opinion about 's! For more information and to Manage your choices it ( other than from Alpha! Want to invest your capital with plays has held up, the Houston Chronicle.... Area of southeastern new Mexico properties for sale in the Permian Basin 750m total. Company owns the Orogrande Project has zero proved reserves and zero commercial Production ranch... For most of the 2,000 pounds per foot used on the list, the value per acre ( PPA is. No financial interest in the post-combination company, analysts are expecting to range from anywhere between $ per! Act of 1934 each became targets for vertical drilling and multistage, fracturing. And that gets you 3.3 Torchlight shares ( around $ 0.91 USD per Torchlight share.. Of thousands of barrels of oil and gas, Inc. Alpha Energy Partners: a abuse! 11 photos, read details, and contact the seller is named for the Orogrande test shallower... Talking about the Midland Basin yet Veselka as their auditor administrative proceeding: a common abuse found among small!

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