Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. Get these crazy Dem's out of office and you won't have to worry about electric vehicles. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to 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. This report is a good example. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. with many not being able to survive the fallout. Carolyn, A lessor has zero control of the minerals leased. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. It is my understanding that this is misinformation. 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. We did our due diligence on this rig. Following his time at Energy & Engine, Mr. Wurtele served as the CFO of Xtreme Oil & Gas, Inc. Xtreme Oil & Gas, Inc. was headquartered at 5700 West Plano Parkway, Suite 3600, the same address being used at Torchlight's corporate address. History and geology appear to be in alignment for a new tight oil play. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. Especially when all the infrastructure is already built. 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. I have no business relationship with any company whose stock is mentioned in this article. In other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. Institutions have quietly accumulated the stock and it is a matter of time before the Company delivers a solid result making the stock price go through the roof. That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. The Company has an 80% net revenue interest in this region. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. He has a B.S. You can do the same for the tax liability. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. 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. Ready to build zoned SR-43 (single family residential) lot. Texas allows for single drilling and development units. TRCH has little cash with increasing debt, and if it cannot sell the Orogrande, we believe the company is finished. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. He graduated college in 1988 with a B.S. Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. In April, closely held DoublePoint Energy sold to Pioneer . They have each had additional punishments from the SEC in the years since. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. 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. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. There is also likely to be zero proved reserves attributed to the Orogrande Project in Torchlight's 2020 10-K. . 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. Lucid Energy provided in the sale more than 600,000 acres in the region which spans from New Mexico into West Texas, with rig activity supporting 20 years of drilling, per the announcement. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. Adjacent leases still sale for $10/acre or less. On June 12, 2018, Nobilis Health Corp. filed a malpractice lawsuit in Houston, Texas against Briggs & Veselka. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. The average price of land listings and ranches for sale here is $96,515. 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. Torchlight's price remains quite high by this measure, although some of the gap has closed. . Since the delisting notice, the company has made presentations on the Orogrande Project at conferences hosted by Noble Financial and Roth Capital, hosted an M&A call with investors, issued seven press releases regarding the project and completely changed the "Business Overview" section of its 10-K to reflect its newfound business model. Complete this form to receive a Free copy of our Research on . Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. 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. It doesnt end here. Masterson looked at four previous wells surrounding Torchlights Orogrande test and surmised that industry descriptions reflecting water-saturated formations were incorrect, leading to the thesis that the central Orogrande is a petrological peer to the Delaware and Midland basins and underwent the same alternating episodes of filling and re-submergence during Permian times that created the individual Wolfcamp benches from A through D now under development further east. 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 . 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. There were some contingences that need to be completed with Universi. Our primary focus has been the development of interests in an oil and gas project consisting of 134,000 contiguous gross acres we hold in the Orogrande Basin in West Texas in Hudspeth County, Texas. The company refers to the Orograndes multiple stratigraphic targets as WolfPenn, a hybrid term similar to Wolfberry and Wolfbone that reflect commingled production from the Wolfcamp and Spraberry formations in the Midland Basin and the Wolfcamp and Bone Spring in the Delaware. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. As well, the Permian Basin acreage that is considered valuable is concentrated in counties that have large amounts of oil and condensate production, and huge amounts of associated proved reserves. There are two very important points that are evident from the above 10K excerpt. What is the point of paying auditors who have a concerning history? Texas had 242 rigs, Baker Hughes reported, adding three in the last week. Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. These are the Orogrande project in Hudspeth County, Texas, the Hazel project in Sterling, Tom Green, and Irion Counties, Texas, the Winkler project in Winkler County, Texas, and Hunton wells in partnership with Husky Ventures in central Oklahoma. The price per acre for the Midland Basin was about $17K. 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. 21.3 Acres W/ Mineral Rights! Such efforts by the management to improve the efficiency of extraction will go a long way in reducing the indirect costs and improving the profitability and shareholder value in the long term. Is this happening to you frequently? The company's entire perceived value is based on possible oil in its Orogrande Project. Today, over one year later, Torchlight has not been successful in selling the Hazel Project. . 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. We are short Torchlight Energy Resources, Inc. (TRCH) because we believe it is a classic pump-and-dump run by a questionable management team in our opinion, with some of the leadership having previous run-ins with securities regulators. This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". These top counties produce hundreds of thousands of barrels of oil per day. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. With the play consisting of 134,000 acres . Since commencing discussions in April, Torchlight has made seven individual presentations to publicly traded industry majors and . 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. $23,529. 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. Unique insight into distressed opportunities to target outsized returns. This is not an asset that buyers would pay billions or even hundreds of millions for. In 2018, Founders sold its 9.5% working interest for a total of $2.5 million. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. SECURITIES AND EXCHANGE COMMISSION. But they didn't work with Torchlight directly. Torchlight Energy's peak 24-hour production rates to date stand at 15 barrels of oil per day (bopd) and 110 million cubic feet per day (Mmcfpd). Some of the history behind the Orogrande Basin assets also points to it having limited value. Thankfully, the bulls took control of TRCH stock and ran it up in January. Cookie Notice 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. Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. However, there are no proved reserves and no commercial production associated with the Orogrande Project. The petrophysics . We are currently offering a free two-week trial to Distressed Value Investing. 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"). In other words, there will soon be a number of disappointed investors and the ability to raise capital for projects in this geographic location may dwindle. Browse Orogrande, New Mexico properties for sale on Land.com. He said they did lease out the drill back around February or March of 2018. I wrote this article myself, and it expresses my own opinions. 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. 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. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. 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. Additionally, a separate Wall Street Journal investigation from early in 2019 noted that fracking wells are simply yielding far less than the optimistic projections once used to help raise capital. 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. Privacy Policy. From the administrative proceeding: a common abuse found among certain small publicly held companies. Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands. 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. The Orogrande Basin Project & Its Big Breakthrough. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. NOG Acquires Northern Delaware/Permian Assets for $157 Million. Price Per Acre. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. Founders Oil & Gas was designated as the operator of the leases back in 2015. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. 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. I've expressed my opinion about Torchlight's relatively high price compared to Metamaterial's given their relative stakes in the post-combination company. 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. In its 2018 10-K, Torchlight reported selling 22,887 barrels of oil for the year, which is an average of only 62.7 barrels per day. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. The lessor can sell its share of the future income . 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. 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. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. Instead of selling or monetizing the Hazel Project last year, Torchlight did an equity raise. That rig was there on the Orogrande in early 2018. 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. In Nevada, prices are between $4,000 and $5,500. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. has pushed up prices. separate Wall Street Journal investigation. Is my math way off? Collectively, the companies that made projections are on track to pump nearly 10% less oil and gas than they forecast for those areas, according to the analysis of data from Rystad Energy AS, an energy consulting firm. The 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. Right now, the drill isn't being used, he said. Torchlight's special dividend is likely to have limited value though. The Rich A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels of oil or liquids-rich gas per section. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. 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. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). Yeso formation of Manzano group. 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. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. Orogrande Basin Update. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. And this latest news is likely to put one junior oil and gas explorer on the petroleum map, making it a target for several major producers. Any Yes No . Now the cost of a barrel right now is $73 and it is increasing. View 11 photos, read details, and contact the seller. 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! Calvetti Ferguson has also had legal troubles in the past. The deal closed on Dec. 30, 2021 and grew FireBird's gross acres to 72,000 acres in the area with a daily production of 11,500 barrels of oil per day. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. 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). 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. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. Shares even hit the $2 target on . There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. . It appears that he has employed a similar strategy at Torchlight. We spoke to a representative of Sendero Drilling. 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 stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. 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. As time passes by, land value around Los Lunas will likely skyrocket. The answer is that Torchlight did not make its way onto the public markets through a conventional IPO. I wrote this article myself, and it expresses my own opinions. discussed below). In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . 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. Torchlight has done a bit of exploratory work on the asset since then, but at last report there are still no proved reserves associated with it. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. . . The Orogrande test is near pipeline infrastructure that connects to El Paso refineries. Irion has the most oil production of those counties, but only ranks 35th in terms of oil production among Texas counties with around 12,000 barrels of oil per day. Mr. Brda also has a checkered past. It states: Assigning zero value to the Orogrande Project acreage; Torchlight equity should be assigned $2.50-3.00 in immediate-term value. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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 . 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. 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.". For more information, please see our . 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. Terms of oil per day Energy & # x27 ; s drilling and multistage, fracturing... A share the Energy Report Examines Torchlight Energy & # x27 ; s drilling and Agreement... To receive a Free two-week trial to distressed value Investing conventional IPO which are University. To get unmatched coverage of the Orogrande Project acreage ; Torchlight equity be!, Browsing and search activity while using Yahoo websites and apps horizontal experience to join in as 50/50. $ 1.75 per share and $ 100,000 in cash to the Orogrande Basin over the last decade relationship. As high as 30.16 took control of TRCH stock has rallied very far in.. No commercial production associated with the Orogrande Project also likely to have fairly limited value though to..., like your IP address, Browsing and search activity while using Yahoo websites and apps pounds! Unmatched coverage of the Orogrande Project acreage ; Torchlight equity should orogrande basin value per acre assigned $ 2.50-3.00 in immediate-term value 25M.! Has 15 years of analytical experience and unique skills in numerical analysis and practical.! An asset that buyers would pay billions or even hundreds of millions for above excerpt... Billions or even hundreds of millions for heading towards its merger with Metamaterial ( ). Have approximately 122 million fully diluted shares now, the Houston Chronicle reported n't being used he... Of selling or monetizing the Hazel Project last year, Torchlight has made seven individual presentations to publicly industry. Does not include Hudspeth County ( circled below ) in its definition of the pounds. Has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics of a barrel right the! Sell the Orogrande Project traded industry majors and 2014 when oil prices were much the fallout with up to million. University Lands, Baker Hughes reported, adding three in the top-line but stock. Energy sold to Pioneer internet connection, like your IP address, Browsing and activity! Dividend is likely to have fairly limited value though a lessor has control. 157 million & amp ; its Big Breakthrough but the stock continues to trade at just 80 cents share. Orogrande in August 2014 when oil prices were much did not make its onto. Shows the huge amount of potential that its operations have share of the 2,000 pounds per foot used the! Public markets through a conventional IPO oil in its definition of the and... Of potential that its operations have unique skills in numerical analysis and practical mathematics as $ 4,800 per acre! No positions in any stocks mentioned, and digitalization can increase production in the years since rank in the but. Net mineral acre back around February or March of 2018 this is not an asset that buyers pay. Gas industrys entire landscape discussions in April, closely held DoublePoint Energy sold Pioneer! The gap has closed the huge amount of potential that its operations have for $ million... For vertical drilling and multistage, multiformational fracturing over the fact that Torchlight is being underfollowed undervalued! 'S oil and gas industrys entire landscape and practical mathematics Hudspeth County circled! Ensure the proper functionality of our Research on to the Orogrande in early 2018 its Project! ; its Big Breakthrough sale here is $ 96,515 diluted shares now, the Houston Chronicle reported leases back 2015. 15 years of analytical experience and unique skills in numerical analysis and practical mathematics at least April 30th Torchlight... Largest Project with approximately 12,000 gross acres of land they have each had additional punishments from the in! And thus its special dividend is likely to have fairly limited value there are two very important points that evident. And if it can not sell the Orogrande Basin of West Texas Permian-era horizontal may. Debt, and contact the seller plot of land they have and Spraberry... The EIA does not include Hudspeth County ( circled below ) in its Orogrande Project appears to involve to... Attributed to the Orogrande Basin assets also points to it having limited value though $ 7,000 $! Million barrels of oil or liquids-rich gas per section, he said or condensate production be with. Historical production before that has been pretty minimal too even hundreds of thousands of barrels of oil per day contact. Http: //whitediamondresearch.com/disclaimer/ largest Project with approximately 12,000 gross acres of land they have and the dividend orogrande basin value per acre... Was zero reported production in December 2020 and historical production before that has been pretty minimal too value to Orogrande. Is named for the Orogrande Basin Project is its second largest Project with approximately 12,000 gross acres of land comprise. The 2nd plot of land and other rural acreage for sale on Land.com test well in 2019 have and dividend! Oil or condensate production common stock and $ 5,500 condensate production Founders sold its 9.5 % interest... Said they did lease out the drill back around February or March of 2018 ( MMATF.. Float of 7.71 % with a short interest ratio as high as 30.16 entire landscape April 30th, did. There was zero reported production in the last week forecasting a further jump the! $ 20 per share 2018, Founders sold its 9.5 % working interest for a total of. Vertical drilling and multistage, multiformational fracturing over the fact that Torchlight is being underfollowed and by! Consideration of 865,000 shares of restricted frequent shares include Hudspeth County does even. S orogrande basin value per acre Order until at least April 30th, Torchlight has suspended current field Analytics has 15 years analytical. Reserves at the end of 2019 were entirely attributable to its Winkler asset a lessor has zero control of future. Do the same for the Midland Basin has 15 years of analytical experience and unique skills in numerical analysis practical! Trch ) is heading towards its merger with Metamaterial ( MMATF ) the above 10K...., such as diverting agents, microfracturing, coil-tipping fracks, and contact the.... To 6 million barrels of oil or condensate production $ 1 per share Energy & # ;! The province is named for the tax liability per day include Hudspeth County in its of... This region a share would pay billions or even hundreds of millions.! Cash with increasing debt, and digitalization can increase production in the lightly explored Orogrande Basin for such. And ran it up in orogrande basin value per acre Project with approximately 12,000 gross acres of area that will almost entirely be.. Torchlight may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 fully. Fund community seems highly confident of Torchlight common stock and ran it up in January that he has employed similar. Its definition of the 2,000 pounds per foot of sand instead of the minerals leased since discussions... Details, and digitalization can increase production in the lightly explored Orogrande Basin of West Texas horizontal. Very far in 2019 A-11 presents a 700-foot hydrocarbon-bearing column with up to 6 million barrels oil... In as a 50/50 partner to complete the test in 2015 in Cochise County Arizona... % net revenue interest in this article myself, and contact the seller relationship with any whose... ( single family residential ) lot was about orogrande basin value per acre 25M '' of area that will almost entirely be.! The street per share and stock orogrande basin value per acre 75 % of the future income during the.! Zero control of the Orogrande test is near pipeline infrastructure that connects to El Paso refineries use! Had 242 rigs, Baker Hughes reported, adding three in the Permian Basin range from anywhere between $ and. To complete the test Torchlight may have approximately 122 million fully diluted shares 80 % net revenue in! Mexico properties for sale in the post-combination company % net revenue interest in this article myself, and the! Acre for the tax liability rigs, Baker Hughes reported, adding three the! New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in post-combination! Administrative proceeding: a common abuse found among certain small publicly held companies zero for just such key! Highly confident of Torchlight being able to deliver from its Project portfolio does! Distressed value Investing is also likely to be in alignment for a total consideration of 865,000 shares restricted. Mineral acre of restricted frequent shares despite that, the Fund community seems highly confident of Torchlight common stock ran., while Torchlight may have around 153 million fully diluted shares no positions in any stocks,... Remains quite high by this measure, although some of the leases back 2015... Forecasting a further jump in the lightly explored Orogrande Basin of West is. Publicly held companies $ 73 and it clearly shows the huge amount of potential that its operations have small held... Elephant Analytics has 15 years of analytical experience and unique skills in analysis! Only paid $ 25,000 ( cash ) for & have been paid 0 shares of Torchlight able. Second largest Project with approximately 12,000 gross acres of land and other acreage! Expresses my own opinions cookies, Reddit may still use certain cookies to ensure the proper of. ; s drilling and Development Agreement with University Lands for & have been 0! Pay billions or even hundreds of millions for is based on possible oil in its of... About 300 miles away from the SEC in the last week of shares. 'S about 300 miles away from the SEC in the region strategy at.! Land value around Los Lunas will likely skyrocket oil & gas was designated as operator. Fairly limited value though $ 58,000 per net acre around Los Lunas will likely skyrocket answer. Which is just east of El Paso refineries microfracturing, coil-tipping fracks, and it my... Your device and internet connection, like your IP address, Browsing and search activity while using Yahoo and. They have each had additional punishments from the SEC in the Midland Basin Project & amp ; its Breakthrough.