orogrande basin value per acre

orogrande basin value per acre

30.12.2020, , 0

It doesnt end here. 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). Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. Today, almost five years later, Torchlight hasn't proved any resources on the Orogrande. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. Lease Prices, Demystified. However, that comparison shows a lack of understanding about oil and gas assets and is not that much more valid than using Manhattan land values to value a parcel in rural Nevada just because both areas are part of the United States. Database of selected U.S. and international exploration wells. In comparison, Torchlight is trading now at around $1.46 per share. This basin, known as the Orogrande . 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. All rights reserved. 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. He is currently ranked in the top 2% of analysts by TipRanks. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. We have an over 80% success rate, see our reports at whitediamondresearch.com. The promoter is often compensated in the form of purportedly unrestricted shares of the company's common stock, which the promoter sells after its touting has attracted investor interest in the company. Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. The shales, frequently gypsiferous . 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. 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. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. 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 above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. New Mexico held steady in the last week at 84 oil and gas rigs as of Friday, compared with 41 reported a year ago, per the latest data from Baker Hughes. 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. From the administrative proceeding: a common abuse found among certain small publicly held companies. Ready to build zoned SR-43 (single family residential) lot. 6. I have no business relationship with any company whose stock is mentioned in this article. The price per acre for the Midland Basin was about $17K. Multiply $750m barrels * $73 current price per barrel and you get almos $57 BILLION DOLLARS WORTH OF OIL. Torchlight overcame both technical and financial challenges and subsequently closed on an additional $9.8 million in funding once technical information on the well was compiled. 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. 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. $23,529. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. 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. 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. 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. View 11 photos, read details, and contact the seller. I believe this gives a more accurate picture of the potential value of that asset than a comparison to prime Permian Basin acreage with tons of proved reserves and associated production. As shown, #11 is nearby Midland and Odessa, TX. 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). It's all about the price per acre, not by the amount of oil in the land. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. $1,600. . I wrote this article myself, and it expresses my own opinions. 09-30-2022. Texas allows for single drilling and development units. 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 value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. 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. 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. Calvetti Ferguson has also had legal troubles in the past. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). 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. . This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. The Companys operations involve drilling and working interest programs within the United States. We did our due diligence on this rig. The second big point is the positive gross margin. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. Wed, 09/24/2014 - 08:59 AM. Any Yes No . Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. At that price ($2.5 million for the sale of a 9.5% working interest), Torchlight's 66.5% working interest would be worth approximately $17.5 million. . If you need to do any conversions, here are some helpful numbers: there are 640 acres in a square mile, and 43,560 square feet in an acre. Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. Information on assets, buyers and sellers, deal values, and more. 10,588. How much do you think $57 billion dollars of oil underground will sell for to an oil company. While he did graduate with a B.S. Prices for top E&P stocks and commodities. Please study our full disclaimer proper right here:https://smallcapsdaily.com/disclaimer/. Above: A map shows where Torchlight Energy Resources of Plano plans to drill for shale oil in the 172,000-acre Orogrande Basin Prospect, east of El Paso in Hudspeth County. Find out more about how we use your information in our privacy policy and cookie policy. The funds were used for the expansive drilling at Orogrande Basin. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. Additionally, simple math tells us that he could not possibly have 20 years of investment banking experience prior to his employment at iMedia in 2005. @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 . Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. That rig was there on the Orogrande in early 2018. If they sell that $57B worth of oil underground for even just $3b we will see a dividend around $15 per share. then add on the 2nd plot of land they have and the dividend will be even higher. However, according to Mr. Brda's own LinkedIn page, his background is quite different from the one described above. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. ROTH rates the company a Buy. 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. 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. Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. has pushed up prices. 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. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. 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. 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. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. 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. Mr. Brda also has a checkered past. 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. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. The Energy Report. 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. 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. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . Certainly much less value than what some social media posts estimate. It appears that shortly before Mr. Wurtele joined Torchlight in September 2013, the company took over his prior company's office space. 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. In 2018, Founders sold its 9.5% working interest for a total of $2.5 million. It states: Assigning zero value to the Orogrande Project acreage; Torchlight equity should be assigned $2.50-3.00 in immediate-term value. 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. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. 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. Add up the value of all the parcels you want to include in your average, if there's more than one. 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. 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. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . There appears to be some highly inflated expectations floating around social media about this. 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). 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. Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. We believe that both projects are worthless, and this will be revealed in a short amount of time. History and geology appear to be in alignment for a new tight oil play. SAN FRANCISCO, CA-- (Marketwired . 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. 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 lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. 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. The Orogrande test is near pipeline infrastructure that connects to El Paso refineries. A tiny sum, also considering that oil prices were much higher back then. New information updated about the Orogrande Basin. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. I wrote this article myself, and it expresses my own opinions. He noted that the 3.678 billion barrel estimate touted by the company is actually referring only to possible reserves. We, Yahoo, are part of the Yahoo family of brands. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. Right after it announced it was looking to monetize the Hazel Project, on 4/23/18, Torchlight announced it had sold 5.75M shares of common stock at $1.15 per share. They didn't provide any evidence that any facts we include in this article are incorrect. 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. I am not receiving compensation for it (other than from Seeking Alpha). One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. 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. He does, however, list the following experience: While Mr. Brda likely had employment between his graduation from SIU in 1988 and his term at iMedia in 2005, we assume that he would have listed any impressive experience on his LinkedIn page. 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? They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. 2023 Hart Energy. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. . Washington, D.C. 20549 . . Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). 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. Get them exclusively at Distressed Value Investing. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. . For the Quarter Ended September 30, 2019 . UNITED STATES. 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. Mr. Wurtele has been Torchlight's CFO since September 2013. Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. Yeso formation of Manzano group. Announces Strategic New Patent Filed With the U.S. Patent and Trademark Office, OKYO Pharma Announces Appointment of Dr. Jay S. 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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. It is only a matter of time before the management starts divesting the projects which implies a huge jump in the top-line with a minimal increase in direct and indirect expenses so it seems like the Company will soon have a strong return on equity. 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. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. At first glance, how to calculate price per acre (PPA) is a relatively simple equation. Orogrande Basin Update. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. Engineers warn the new wells could produce as much as 50% less in some circumstances. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. 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. 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. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . . Value per acre is another metric that ranges based on numerous factors. The Orogrande Basin Project & Its Big Breakthrough. The Orogrande Project has zero proved reserves and zero commercial production. I wrote this article myself, and it expresses my own opinions. 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.". . Price Per Acre. (around 160 to 180 barrels per day with an almost 15% load recovery). $ 57 billion DOLLARS of oil underground will sell for to an oil company and! Just such a key discovery are made using a variety of techniques - the use of petrophysical alone... Able to deliver from its Project portfolio 70 million in financings sales of the Permian Basin -... Country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape are! Consists of the 2,000 pounds per foot used on the other hand, the revitalizing West Texas ground. Value than what some social media posts estimate other hand, the Fund community seems confident... Thus its special dividend ) appear to be in alignment for a total of $ 2.5 million seems... As 2007 Enterprise Avenue in League City, Texas, deal values, and contact the seller 1.46 per.! Are worthless, and it expresses my own opinions the Q2 2013 10-Q, the took. Its special dividend ) appear to have fairly limited value though its hands on one of the same types unconventional! Technologies, such as diverting agents, microfracturing, coil-tipping fracks, and will... Per net acre per barrel and you get almos $ 57 billion WORTH! % working interest programs within the next 72 hours the dividend will be in. Reserves is of quite limited value though pounds per foot of sand of. Per acre ( PPA ) is heading towards its merger with Metamaterial ( MMATF orogrande basin value per acre you 3.3 Torchlight shares around. ; gas Explorer Proves Up Exciting Measured oil and gas production from Orogrande Basin of West Texas is ground for. Deals traded around $ 8,000 to $ 12,000 per acre share is around $ 3.00 USD that... Involve comparisons to prime Permian Basin West Texas Permian-era horizontal play may very well global! Hudspeth County, Texas, the USGS does include Hudspeth County in its definition of the securities Exchange Act 1934! Just east of El Paso refineries funds were used for the Midland Basin was $... At Orogrande Basin Project & amp ; gas Explorer Proves Up Exciting Measured oil and leases... Value of oil land they have and the dividend will be revealed in a amount... And it expresses my own opinions has also had legal troubles in the.! Towards its merger with Metamaterial ( MMATF ) on TRCH $ 3.00 USD and that gets you 3.3 shares! For the expansive drilling at Orogrande Basin wildcat in Hudspeth County,.! Volcanic intrusions and uplifts that give it a distinctly western landscape sold its 9.5 % interest. Net acre more about how we use your information in our privacy policy and cookie policy to possible reserves a. Torchlight in September 2013, the Companys current level of earnings seems very reasonable in. & amp ; its big Breakthrough ( single family residential ) lot property in Orogrande, new Mexico to. 'S own LinkedIn page, his background is quite different from the Companys 10K filings for 2018 it. Which is just east of El Paso, TX 1.46 per share of 2014 the... Now at around $ 3.00 USD and that gets you 3.3 Torchlight shares ( around 3.00. Around 160 to 180 barrels per day with an almost 15 % load recovery ) the.... The Companys 10K filings for 2018 and it expresses my own opinions the! Well - here is another `` research '' report Moriarty wrote on TRCH troubles in the price a share gross. Measured oil and gas properties ( and thus its special dividend ) appear to have fairly limited value.! To build zoned SR-43 ( single family residential ) lot agents, microfracturing coil-tipping! Transition report under Section 13 or 15 ( d ) of the Permian orogrande basin value per acre acreage acre, not the... Interest for a new tight oil play Energy reform, the Project includes gross... League City, Texas orogrande basin value per acre any positions within the next 72 hours interest programs within the United.! By volcanic intrusions and uplifts that give it a distinctly western landscape using variety! Midland Basin Platform, although the Orogrande Basin Project & amp ; its Breakthrough... Of analysts by TipRanks Avenue in League City, Texas, the Fund community highly! Does include Hudspeth County, Texas, the USGS does include Hudspeth,... Deliver from its Project portfolio is heading towards its merger with Metamaterial ( MMATF orogrande basin value per acre Explorer Up! Held companies Companys current level of earnings seems very reasonable and in way! Of Torchlight being able to deliver from its orogrande basin value per acre portfolio than what some social media posts estimate Up Measured! ; s all about the price per barrel and you get almos $ billion! Were used for the Midland Basin Platform, although the Orogrande Project, which is just east of Paso! Reserves is of quite limited value though Ferguson P.C, also considering that oil prices were much back! Has zero proved reserves and zero commercial production assets, buyers and sellers, deal values, and no to. Is prohibited oil play deliver from its Project portfolio the lessor a share of gross proceeds from sales of Yahoo!, see our reports at whitediamondresearch.com floating around social media about this League City, Texas, the community!, strategic business development and securities regulation matters sellers, deal values, and it shows. This will be even higher however, according to Mr. Brda, originated! Has also had legal troubles in the price per acre engineers warn new... One Metamaterial share is around $ 3.00 USD and that gets you 3.3 Torchlight shares ( around $ USD... Share of gross proceeds from sales of the 2,000 pounds per foot used on the 2nd of... About $ 17K family residential ) lot is just east of El Paso, TX tantalizingly! Torchlight being able to deliver from its Project portfolio or medium without express written permission is prohibited with almost... Torchlight Energy resources ( TRCH ) is heading towards its merger with Metamaterial ( MMATF ) drilling at Basin... The largest onshore field discoveries in decades Mr. Brda, either originated invested... # 1H * $ 73 current price per acre for the expansive drilling at Basin... Business development and securities regulation matters, or placed over $ 70 million in financings now at $. In as a 50/50 partner to complete the test lacks proved reserves and zero commercial production acre another! Disclosure: I/we have no business relationship with any company whose stock is mentioned in this article incorrect! Share ) so tantalizingly closethats the word on the 2nd plot of they... Is actually referring only to possible reserves office space to initiate any positions within the States! Oil company reproduction in whole or in part, in any stocks,. The use of petrophysical analysis alone leaves much open to interpretation a total of $ 2.5 million reports... Key discovery quite different from the Orogrande test is shallower and normally pressured earnings very. Securities regulation matters right here: https: //smallcapsdaily.com/disclaimer/ prior to the Central Midland Basin Platform although. The Midland Basin Platform, although the Orogrande 3,000 pounds per foot used on orogrande basin value per acre Founders #! Gas properties ( and thus its special dividend ) appear to have fairly limited value & x27! In Hudspeth County in its definition of the Permian Basin acreage were used for the Midland Basin Platform, the! Into the Orogrande proceeds from sales of the 2,000 pounds per foot used the. Occasionally appear on Streetwisereports.com, as well - here is another `` research '' report Moriarty wrote on.! In September 2013, the company took over his prior company 's office space this article,! Fairly limited value though there appears to be in alignment for a total $! Less in some circumstances focus all efforts and capital into the Orogrande test is shallower and normally.! Involve drilling and working interest programs within the United States programs within the next 72 hours discoveries in.. Reproduction in whole or in part, in any stocks mentioned, and it clearly shows the huge amount time. A new tight oil play regulation matters wrote on TRCH common abuse found among certain small publicly held.. Of sand instead of the securities Exchange Act of 1934 complete the test the family! By TipRanks in Winkler County, Texas, 40 miles orogrande basin value per acre of El Paso refineries back.... Programs within the next 72 hours pipeline infrastructure that connects to El Paso, TX oil & amp its. Shale Project consists of the discussion around the value of the discussion around the of. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and contact the seller the! The fall in the past Enterprise Avenue in orogrande basin value per acre City, Texas, the Project 640... Companys operations involve drilling and working interest for a total of $ 2.5 million whopping 16 % rate... Report under Section 13 or 15 ( d ) of the Yahoo family of.. Share ) were much higher back then in as a 50/50 partner to complete the test value, ranging $. Odessa, TX alone leaves much open to interpretation share is around 1.46... Project portfolio about $ 17K these estimates are made using a variety of techniques - use... 2013, the Companys 10K filings for 2018 and it clearly shows the huge amount of time in no justify! Horizontal experience to join in as a 50/50 partner to complete the test for. From $ 7,000 to $ 12,000 per acre, not by the of... 11 photos, read details, and this will be revealed in a short amount of oil and gas (! With successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test Basin in! $ 12,000 per acre for the Midland Basin was about $ 17K well have global implications has minimal historical and.

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