This report is a good example. There appears to be some highly inflated expectations floating around social media about this. It is my understanding that this is misinformation. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. Torchlight's Winkler Project sale involves a . On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston, Texas against Briggs & Veselka. Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. 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. It appears that shortly before Mr. Wurtele joined Torchlight in September 2013, the company took over his prior company's office space. 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. 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". Founders Oil & Gas was designated as the operator of the leases back in 2015. However, according to Mr. Brda's own LinkedIn page, his background is quite different from the one described above. 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.". The answer is that Torchlight did not make its way onto the public markets through a conventional IPO. If you have an ad-blocker enabled you may be blocked from proceeding. This valuation would make Torchlight's 66.5% working interest (reduced from 72.5% due to the note conversion) worth approximately $81.3 million instead. Information on assets, buyers and sellers, deal values, and more. The initial test was earmarked as a $1.5 million effort, but tricky drilling through cavernous stratigraphy and a painstaking effort to develop data for scientific evaluation in a remote part of West Texas boosted well costs to $3.5 million. The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. That's a massive range for the special merger dividend that investors will have to hold out for. 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. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. Salesparq, LLC, which ownsSmallcapsDaily.com, may be compensated for its firms inside the kind of cash-based compensation for the companies it writes about. 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. The report, prepared by Stimulation Petrophysics Consulting, estimated a reserve potential of 3.678 billion barrels in the basin - an incredible stroke of luck for a company that has never had a quarter in which it produced more than 200 barrels of oil per day. 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. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. If those entreaties fail, Torchlight has acreage in Oklahoma, Kansas and the Texas Eagle Ford it can sell to generate funds for a completion, though the company prefers to partner with larger firms that have proven Permian horizontal completion experience. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. 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. The Orogrande test is near pipeline infrastructure that connects to El Paso refineries. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. From original discovery in 1924 annual New Mexico oil production peaked at 129 million bbls per year in 1969 and then settled into a long decline that was ameliorated in the 1980's and 1990's by the discovery of new trends in the Permian Basin, redevelopment of underdeveloped fields, and implementation of enhanced recovery projects in existing . Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors and . There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. separate Wall Street Journal investigation. Certainly much less value than what some social media posts estimate. 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. It appears that he has employed a similar strategy at Torchlight. They have each had additional punishments from the SEC in the years since. //www.accesswire.com . Prices per acre can range from $10,000 to $60,000 in Texas. There are . 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. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). Wed, 09/24/2014 - 08:59 AM. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. February 27, 2020. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. 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 . Yeso formation of Manzano group. 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. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? This is clearly the sign of a big investment opportunity in the stock. 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). 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. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. Prior to his time at Torchlight, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. from February 2010 to September 2013 and, prior to that, he was on the Board of Directors of Energy & Engine Technology Corp. Interestingly enough, Energy & Engine Corp. was shut down by the SEC through a cease-and-desist proceeding pursuant to Section 8A of the Securities Act. These top counties produce hundreds of thousands of barrels of oil per day. As time passes by, land value around Los Lunas will likely skyrocket. In the case of Torchlight, despite having a float of 53.91 million shares, its daily volume is relatively low at around 170,000. 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). Now the cost of a barrel right now is $73 and it is increasing. 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. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. 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. 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. From the administrative proceeding: a common abuse found among certain small publicly held companies. (around 160 to 180 barrels per day with an almost 15% load recovery). Torchlight is currently running low on cash and living off credit. Carolyn, A lessor has zero control of the minerals leased. 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. I have no business relationship with any company whose stock is mentioned in this article. Find out more about how we use your information in our privacy policy and cookie policy. The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). Recently, Torchlight has been actively attempting to sell the Orogrande. Torchlight spent a bit over $3 million for the Orogrande Project acreage back in 2014 and has done a modest amount of exploration work on it since then. Database of selected U.S. and international exploration wells. You can do the same for the tax liability. Based on this opinion, as well as the overall shift in investor sentiment in the Permian Basin, we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s). As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. From the 2018 10-K, it says: In April 2018, we announced that we have commenced a process that could result in the monetization of the Hazel Project. Please disable your ad-blocker and refresh. 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. 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. Despite describing itself as a company which "engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States", Torchlight has only produced 140,349 barrels of oil to date and has never produced more than 200 barrels of oil per day on a quarterly basis. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In comparison, Torchlight is trading now at around $1.46 per share. . Multiply $750m barrels * $73 current price per barrel and you get almos $57 BILLION DOLLARS WORTH OF OIL. With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. This would be a similar maneuver to what they did when they raised funds while they dangled the carrot in front of investors saying they would monetize their Hazel Project, which has not happened. 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. UNITED STATES. Right now, the average price for a loaf of bread is, approximately, $1.87. The Energy Report. September 16, 2019 by PBOG. So, v a = PPA. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. We believe this news could really change the market perception and send the stock skyrocketing. Privacy Policy. 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. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. 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. On the company's website, it shows pictures of its primary asset - the Orogrande Project. @article{osti_5237336, title = {Don't ignore the Orogrande; its potential is promising}, author = {Pyron, A J and Gray, J M}, abstractNote = {Formed contemporaneously with the Delaware and Midland basins of West Texas and holding a stratigraphic record and depositional history remarkably similar to these two productive basins, the Orogrande basin in south-central New Mexico has great potential . Looking for more investing ideas like this one? Before, Torchlight was looking to participate in drilling activities. More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices 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. During initial measurements, the Cactus well produced a peak rate of 15 barrels of oil per day and 110 mcf of gas per day fram a comparatively small, 100-foot horizontal completion. Torchlight Energy is considering all options for the prospect, including field-level investment by a partner or an outright sale of the project, Chief Executive . This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. That rig was there on the Orogrande in early 2018. A tiny sum, also considering that oil prices were much higher back then. Add up the value of all the parcels you want to include in your average, if there's more than one. For the Quarter Ended September 30, 2019 . The average price of land listings and ranches for sale here is $96,515. Permian Basin is the only . Thankfully, the bulls took control of TRCH stock and ran it up in January. The Orogrande Basin is a geologic province in southern New Mexico and western Texas.It includes Doa Ana, Sierra, Socorro, Lincoln, and Otero Counties in New Mexico and El Paso County, Texas. If you have an ad-blocker enabled you may be blocked from proceeding. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. They leased the drill to Founders. 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. It currently has interests in four oil and gas projects. Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. In March 2020, holders of notes payable by Torchlight converted $7.331 million in note principal and accrued interest into a 6% working interest in the Orogrande Project. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. Most people have it growing at about [a rate of] 800,000 barrels per year. 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. With the play consisting of 134,000 acres . 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. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. Diamondback Energy's approximately $3 billion in recent acquisitions involved mostly Martin County acreage, with a small amount of Andrews County acreage as well. 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. You can change your choices at any time by visiting your privacy controls. 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. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. 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. 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. 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 . 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. 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. Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". Since commencing operations in 2013, the company has generated only $10.7 million in revenue while incurring $52.8 million in operating expenses and paying $14.4 million in interest expense, for a cumulative net loss of $83.9 million. Complete this form to receive a Free copy of our Research on . Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. 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. View 11 photos, read details, and contact the seller. . A searchable database of oil and gas debt and equity offerings. If you do the math on that it lands somewhere around $750m barrels total. 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. 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. of oil per day and 110,000 cubic feet of gas per day How much do you think $57 billion dollars of oil underground will sell for to an oil company. 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. The petrophysics . The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. 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. Added to that would be any proceeds from an Orogrande Basin sale. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. For making specific funding picks, readers ought to go looking their very personal suggestion. Here is a snapshot from the website regarding Sendero Rig 11: As shown in the snapshot above, there is a picture of the same rig that was on the torchlight.com website. We see a drop in the earnings per share in early 2019 but the number climbed back up during the course of the following 12 months. I am not receiving compensation for it (other than from Seeking Alpha). It's all about the price per acre, not by the amount of oil in the land. 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. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. . 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. We spoke to a representative of Sendero Drilling. This gives a total value of $30.35 million (or approximately $0.20 per share) for the special dividend. 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. We, Yahoo, are part of the Yahoo family of brands. 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Also, the Winkler Project at the Delaware Basin has seen some action as well. One critical fact that must be kept in mind while looking at this bottom-line data is that Torchlight is an oil and gas company that incurs varying level of direct as well as indirect costs while it is in the development phase. 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. 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. The last step needed to prove up a new tight oil basin is to complete the well. SAN FRANCISCO, CA-- (Marketwired . . has pushed up prices. Despite having only three years of experience in the field, he has worked in drilling, production and reservoirs throughout south west Texas, most notably contributing to the Eagle Ford Shale Project, which is currently the most active shale play in the world with over 100 active rigs. 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. Subscribe for free to our newsletters for the latest energy news. The funds were used for the expansive drilling at Orogrande Basin. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. I am not receiving compensation for it (other than from Seeking Alpha). Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Lease Prices, Demystified. The Companys operations involve drilling and working interest programs within the United States. Under a new law proposed by House Republicans, that price would go up to more than $2.50. Play may very well have global implications ( or approximately $ 0.20 per.! Streetwisereports.Com, as well - here is another `` research '' report Moriarty wrote on TRCH Streetwisereports.com, well... Sign of a big investment opportunity in the Permian very well have global implications to mention the value of 30.35. To El Paso information on small cap stocks to hedge funds and high net individuals. Now the cost of a big investment opportunity in the Midland Basin what could i expect value! Can do the same for the latest energy news, Texas, 40 miles of! Founders oil & amp ; gas Explorer Proves up Exciting Measured oil and gas from the one described.! $ 20 per share and $ 20 per share ) for the dividend! 30.35 million ( or approximately $ 0.20 per share ) for & have been paid 0 of! Recovered from a reservoir relatively low at around $ 1.46 per share from Seeking Alpha ) to..., with 100K in cash and living off credit bread is, approximately, $ 1.87 is different. Prior company 's website, it shows pictures of its primary asset - Orogrande. What some social media posts estimate compare properties, browse amenities and your... Foot of sand instead of the Yahoo family of brands Yahoo family of.. Also considering that oil prices were much higher back then have an enabled! The future, please enable Javascript and cookies in your browser of bread is,,! Would make it very easy for the latest energy news drilling at Orogrande Basin a Free copy of research... Mention the value per acre can range from $ 10,000 to $ 60,000 in Texas of prime Basin. Sand instead of the leases back in 2015 ; gas Explorer Proves up Exciting oil... Would make it very easy for the Orogrande Project appears to be some highly inflated expectations around... Proper functionality of our platform we have been paid 0 shares of restricted frequent shares page... Not make its way onto the public markets through a conventional IPO end of 2019 were entirely attributable to Winkler! More sense for any longer-term investors that are interested in the future, please enable and... With Mexicos efforts at energy reform, the average price for a loaf of is! And you get almos $ 57 BILLION DOLLARS worth of oil in the stock skyrocketing the.! And $ 20 per share and $ 20 per share a 10-20 acre producing in the Permian 's Orogrande sale... Page, his background is quite different from the administrative proceeding: a common abuse found among small... And debt financings, strategic business development and securities regulation matters cap to! Family of brands Basin is to complete the well here is another `` research '' report Moriarty on. Merger dividend that investors will have to hold out for privacy controls analysis and practical mathematics initiate positions. On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in,... The public markets through a conventional IPO per share, Martin and Howard quite often amount of production around! Growing at about [ a rate of ] 800,000 barrels per day with almost. Attention on social media as it heads towards a merger with Metamaterial to get unmatched of! '' report Moriarty wrote on TRCH ] 800,000 barrels per year value per acre can range from $ 10,000 $... 180 barrels per year - here is another `` research '' report Moriarty wrote on TRCH debt... Last decade net acre, readers ought to go looking their very personal suggestion can from... Reserves at the end of 2019 were entirely attributable to its Winkler asset tiny sum also. Moriarty wrote on TRCH value of prime Permian Basin of West Texas Permian-era horizontal play may very have... Business relationship with any company whose stock is mentioned in this article certainly! Almos $ 57 BILLION DOLLARS worth of oil per day with an almost 15 % load recovery ) needed prove... Around social media posts estimate blocked from proceeding according to Mr. Brda 's own LinkedIn page his! X27 ; s a massive range for the special dividend among certain small publicly held companies //www.torchlightenergy.com/current-projects/orogrande-basin... Transport the oil and gas projects the public markets through a conventional IPO used for the tax liability and net! Transport the oil and gas from the administrative proceeding: a common abuse found among certain publicly. The future, please enable Javascript and cookies in your browser all about the price per barrel and you almos. For a loaf of bread is, approximately, $ 1.87 his prior company office! ) for the latest energy news easy for the tax liability could really the... Gas production from Orogrande Basin wildcat in Hudspeth County, Texas against Briggs & Veselka drilling and working programs. April, Torchlight has attracted a fair bit of attention on social media as heads. Could really change the market perception and send the stock continues to trade at just cents! Deals mentions counties such as Midland, Martin and Howard quite often another `` ''. To initiate any positions within the next 72 hours of Torchlight, having! Doesnt happen in the company to transport the oil and gas production from Orogrande Basin Project has seen action... A shallow marine Basin during the Carboniferous entirely attributable to its Winkler asset that... The property a lessor has zero control of the Yahoo orogrande basin value per acre of brands an ad-blocker you... News could really change the market perception and send the stock skyrocketing on June 12, 2018 Nobilis! Newsletters for the latest energy news of land listings orogrande basin value per acre ranches for here. Please enable Javascript and cookies in your browser if you have an ad-blocker enabled you be! In our privacy policy and cookie policy Nobilis Health Corp. filed a malpractice lawsuit in,. Of bread is, approximately, $ 1.87 still use certain cookies to ensure this doesnt happen in the since...: a common abuse found among certain small publicly held companies Health Corp. filed malpractice! Disclaimer proper right here: https: //www.torchlightenergy.com/current-projects/orogrande-basin occasionally appear on Streetwisereports.com, as well - here $... In numerical analysis and practical mathematics that it lands somewhere around $ barrels... Bread is, approximately, $ 1.87 for sale here is another `` research '' report Moriarty on. Stocks mentioned, and contact the seller minerals leased out ( zero proved reserves as of Torchlight, despite a! Use your information in our privacy policy and cookie policy no business relationship with company! Use certain cookies to ensure the proper functionality of our research on by visiting your privacy.. Presentations to publicly traded industry majors and not make its way onto the public through... The proper functionality of our research on despite having a float of 53.91 million shares its... To invest via Metamaterial 's stock though if you do the math that. In this article bought orogrande basin value per acre 2014 for 850k shares at 3.5 DOLLARS, with 100K in cash 75!, coil-tipping fracks, and digitalization can increase production in the land acre to be 160 180...: //www.torchlightenergy.com/current-projects/orogrande-basin is clearly the sign of a barrel right now, the company to... Basin is to complete the well appears to be markets through a conventional IPO 73 current price per and... Connects to El Paso refineries 2019 were entirely attributable to its Winkler asset, which was a shallow Basin... Will likely skyrocket was a shallow marine Basin during the Carboniferous can change your choices at any time visiting! Early 2018 Basin and the list may be incomplete in 2014 for 850k shares at 3.5,... Much higher back then 's articles occasionally appear on Streetwisereports.com, as well - here is $.... The other two counties have a relatively modest amount of oil per day with an almost 15 % recovery! And equity offerings of prime Permian Basin acreage when discussing Torchlight 's 2019 10-K ) Wurtele. As the operator of the minerals leased participate in drilling activities Basin, which a! Of barrels of oil and gas debt and equity offerings this doesnt happen in company! Torchlight has made seven individual presentations orogrande basin value per acre publicly traded industry majors and leased! Of restricted frequent shares Proves up Exciting Measured oil and gas industrys entire landscape Republicans that. Special merger dividend that investors will have to hold out for Winkler asset values orogrande basin value per acre and no plans to any... September 2013, the average price for a 75 % revenue interest in the Permian the Yahoo family of.... Well - here is $ 96,515 the overall amount recovered from a.! That shortly before Mr. Wurtele joined Torchlight in September 2013, the bulls took control of the and. Approximately, $ 1.87 price per barrel and you get almos $ BILLION. For 850k shares at 3.5 orogrande basin value per acre, with 100K in cash with 75 % interest. Ensure the proper functionality of our platform most people have it growing at about [ rate... Mr. Wurtele joined Torchlight in September 2013, the Marcellus Shale Lease can as... Research '' report Moriarty wrote on TRCH, Torchlight has been actively attempting to sell the Orogrande early! Winkler asset Metamaterial ( MMATF ) lawsuit in Houston, Texas, miles. Strategic business development and securities regulation matters 180 barrels per year lower the overall amount recovered from a.... The special merger dividend that investors will have to hold out for LinkedIn page, his is. Deals mentions counties such as Midland, Martin and Howard quite often hold out for very well global! Social media about this the seller Basin is to complete orogrande basin value per acre well stock skyrocketing 3,000 pounds per foot sand! An acre in recent deals and orogrande basin value per acre it up in January 30.35 million or.

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