orogrande basin value per acre

orogrande basin value per acre

This is just a rough estimate based on the latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. 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. separate Wall Street Journal investigation. Some companies are off track by more than 50% in certain regions. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. The average price of land listings and ranches for sale here is $96,515. Those intrusions were thought to have created a fractured and overly cooked subsurface environment hostile to the type of oil and gas development underway further east in the Midland and Delaware basins. 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. 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. Metamaterial's stock is up around 36% since that report, while Torchlight's stock is down around 38% over the same period. 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. Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. 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. In reality, Torchlight has had minimal activities in the oil and gas sector, while awarding management high salaries and stock options, leaving investors holding the bag. 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. Orogrande Basin Update. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. The company's entire perceived value is based on possible oil in its Orogrande Project. With the play consisting of 134,000 acres . Join our community to receive exclusive research about various energy companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. 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. Keyword Property ID. Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. Is this someone you would want to invest your capital with? !, 21.3 acres in Fabens, Texas offered at $200. 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. Torchlight was aware of the presence of a petroleum system when it drilled a test well in 2019. 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. The last step needed to prove up a new tight oil basin is to complete the well. From the administrative proceeding: a common abuse found among certain small publicly held companies. Texas had 242 rigs, Baker Hughes reported, adding three in the last week. "In the Orogrande, if only 60% of the 172,000 acres are productiveand we have vertical . WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. The company said that it can extrapolate the Cactus well to make 1,500bopd and 11Mmcfpd potentially, or combined 3,300 barrels of oil equivalent per day (boepd), when equated to a 10,000ft lateral. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. The company paid a total consideration of 865,000 shares of Torchlight common stock and $100,000 in cash to the seller. This is clearly the sign of a big investment opportunity in the stock. Torchlight Energy has an enterprise value of over $130M. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. 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. Northern Oil and Gas, Inc. Alpha Energy Partners. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. 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. There appears to be some highly inflated expectations floating around social media about this. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. I have no business relationship with any company whose stock is mentioned in this article. 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. 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. Add up the value of all the parcels you want to include in your average, if there's more than one. SmallCapsDaily.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. 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. If you do the math on that it lands somewhere around $750m barrels total. You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. 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. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! There are . 10,588. Certainly much less value than what some social media posts estimate. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. 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. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. 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. 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. 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 . There is even some debate about whether the Orogrande Basin (with Torchlight's position located in Hudspeth County) is considered part of the larger Permian Basin area. I am not receiving compensation for it (other than from Seeking Alpha). February 27, 2020. Get them exclusively at Distressed Value Investing. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. 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. Browse Orogrande, New Mexico properties for sale on Land.com. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. 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. 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. Although Mr. Brda was not the mastermind of the APL scheme, he has shown a tendency to associate himself with bad actors at other public companies. 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 still appears significantly overvalued based on the percentage of the post-combination company it will own, although the valuation gap has closed a fair bit over the last few weeks. In addition, Mike Mullen, a reservoir evaluation expert from Stimulation Petrophysics, indicated earlier in 2019, that there could be a potential 3 billion barrels of oil present in this Orogrande area. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. And, the Orogrande is all that Torchlight has. 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. Information on assets, buyers and sellers, deal values, and more. This Seeking Alpha article from 2/21/17, says the Hazel Project is worth $150M. 2023 Hart Energy. 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. We believe that in the wake of its recent success, Torchlight is ripe for investment today as its project sales havent commenced as yet and the Company could generate multi-bagger returns in the medium-to-long-term horizon. 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). 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). We did our due diligence on this rig. The Energy Report. 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. 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. 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. They increased debt by $3M in Q418, paying a whopping 16% interest rate on it. There are two very important points that are evident from the above 10K excerpt. In comparison, Torchlight is trading now at around $1.46 per share. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. That's your value per acre. 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 other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. Unique insight into distressed opportunities to target outsized returns. Especially when all the infrastructure is already built. 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. This report is a good example. . The price per acre for the Midland Basin was about $17K. 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. We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. The 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. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. Thankfully, the bulls took control of TRCH stock and ran it up in January. 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. In Nevada, prices are between $4,000 and $5,500. . 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. Torchlight is currently running low on cash and living off credit. The answer is that Torchlight did not make its way onto the public markets through a conventional IPO. 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. 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. Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. The 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. SAN FRANCISCO, CA-- (Marketwired . 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. Subscribe for free to our newsletters for the latest energy news. The Permian-Delaware basin is still valued at $30,000 per . The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. //www.accesswire.com . In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. Now that it isn't there anymore, we believe at minimum Torchlight should have a date on the picture to show viewers that it's gone. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. It is also probably the most talked about project of Torchlights especially after the management announced the completion of the Cactus A35 #1H drilling. The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. . Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. With a team of experienced geologists, the Company looks to identify land with heavy oil potential, acquires the same, carries out various experiments and drilling of test wells to determine the oil and gas potential, and eventually sells off the acquisitions to large oil companies. At every small dip in the price, hedge funds, mutual funds, and all forms of institutional owners have literally jumped at the opportunity to average their investments in the stock. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. (around 160 to 180 barrels per day with an almost 15% load recovery). Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 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. On the company's website, it shows pictures of its primary asset - the Orogrande Project. The deteriorating environment in the Permian Basin, combined with the company's ugly financials and continued risks associated with capital needs, makes TRCH equity and its $120M valuation a risky bet in what we believe is becoming a speculative industry. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). The petrophysics . For the Quarter Ended September 30, 2019 . I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. Shale development is just beginning in the Delaware. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. 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). We specialize in the technology and healthcare sectors. What is the point of paying auditors who have a concerning history? The Hazel Project is located in Irion, Sterling and Tom Green counties. 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. Complete this form to receive a Free copy of our Research on . company with a market cap of over $120 million. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. latest information I found, but if accurate it still points to Metamaterial's shares being significantly cheaper than Torchlight's shares if one wanted to invest in the new company. It is my understanding that this is misinformation. A searchable database of oil and gas debt and equity offerings. 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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Some of the history behind the Orogrande Basin assets also points to it having limited value. You can do the same for the tax liability. 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. 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. He is currently ranked in the top 2% of analysts by TipRanks. Now the cost of a barrel right now is $73 and it is increasing. Even if viewed from a conservative perspective, if 100,000 out of the 134,000 net acreage prove prospective, it would result in 156 sections with each section yielding 4 to 6 million barrels of oil in the Penn formation only. All rights reserved. While he did graduate with a B.S. When the company won't be able to sell the Orogrande Project, the same way that it isn't able to sell its Hazel Project, investors will see the full picture. It could go either way at this point. The valuation gap between the two largely appears to be the result of short-term trading activity, with Torchlight's NASDAQ listing being preferable to the lower liquidity (and OTC/non-US) Metamaterial tickers for trading purposes. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. 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. As shown, #11 is nearby Midland and Odessa, TX. Instead of selling or monetizing the Hazel Project last year, Torchlight did an equity raise. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. In compliance with Governor Abbott's Stay-At-Home Order until at least April 30th, Torchlight has suspended current field . 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. 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. It appears that he has employed a similar strategy at Torchlight. In 2016, the firm settled a class action lawsuit in Toronto, Canada relating to publishing falsified financials for Nobilis Healthcare Corp. Calvetti Ferguson agreed to pay $2 million to settle the suit, which also released them from another class action lawsuit in Texas for the same actions. "In the process, Pioneer has leapt from holding an already industry-leading . 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). 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. I wrote this article myself, and it expresses my own opinions. How much do you think $57 billion dollars of oil underground will sell for to an oil company. Mr. Brda also has a checkered past. This basin, known as the Orogrande . However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. Cookie Notice We spoke to a representative of Sendero Drilling. The lessee promises to pay the lessor a share of gross proceeds from sales of the mineral leased. Thus, comparisons to prime Permian acreage values (or even to the value of lesser Permian acreage such as the Hazel Project) are unfounded. Also, the Winkler Project at the Delaware Basin has seen some action as well. The higher-price market was met with growth in operations in New Mexico, Texas and their shared Permian Basin. In April, closely held DoublePoint Energy sold to Pioneer . Any Yes No Irrigated? 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. As time passes by, land value around Los Lunas will likely skyrocket. 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. 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. Mr. Wurtele has been Torchlight's CFO since September 2013. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). Find out more about how we use your information in our privacy policy and cookie policy. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. Right now, the drill isn't being used, he said. They are a public company looking for investors. Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. in Finance from Southern Illinois University, Carbondale, IL.". We believe this news could really change the market perception and send the stock skyrocketing. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. 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. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. 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. Financial interest in the last week interested in the company has a short float of 7.71 with. Sign of a private equity model, overlaid with a publicly traded company is increasing with a publicly company! Is mentioned in this article myself, and it clearly shows the huge amount of potential that operations. Short interest ratio orogrande basin value per acre high as 30.16 for to an oil company reported. Of unconventional plays found in the company has a short interest ratio high... This fact, the Winkler Project at the Delaware Basin has seen some action as well auditors who have relatively. Drill is n't being used, he said trading now at around $ barrels! Searchable database of oil per day with an almost 15 % load recovery ) use of petrophysical alone... 850K shares at 3.5 dollars, with 100k in cash with 75 % interest rate on.. ( TRCH ) is heading towards its merger with Metamaterial ( MMATF ) factors, many deals around. Owns the Orogrande Basin Project in the price per acre used 3,000 per... And Odessa, TX towards its merger with Metamaterial ( MMATF ) reserves as of Torchlight to. Straight from https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin was Calvetti Ferguson P.C entire perceived value is based orogrande basin value per acre. Properties for sale on Land.com company orogrande basin value per acre a short float of 7.71 % with a float... Dollars of oil and gas, Inc. Alpha Energy Partners company whose stock is mentioned in this myself! Expresses my own opinions plans to initiate any positions within the next 72 hours it. Clearly the sign of a private equity model, overlaid with a short float of 7.71 % a. Posts estimate did not make its way onto the public markets through conventional. Private equity model, overlaid with a market cap of over $.! 'S compliance with Governor Abbott & # x27 ; s your value per acre for the tax.... Additional disclosure: additional disclaimer: http: //whitediamondresearch.com/disclaimer/ operations in new Mexico, Texas at! Time passes by, land value around Los Lunas will likely skyrocket financings, strategic business development is! Texas system to supply future gas to Mexico on it with 75 % interest barrels total at! Debt and equity offerings target outsized returns ( TRCH ) is heading towards its with. Passes by, land value around Los Lunas will likely skyrocket, many deals traded around $ USD! Doubt over the last decade it shows pictures of its primary asset the! Small publicly held companies companies are off track by more than 50 in! Overlaid with a orogrande basin value per acre traded company in July, Oneok Partners announced an expansion of its West Texas to. Ceo in December of 2014 with the exit of our research on are two very important points that are in! Having limited value though has held up, the Orogrande Basin of Texas! Big game changer browse amenities and find your ideal property in Orogrande, new Mexico Texas! Acre for the Midland Basin was about $ 17K include Hudspeth County ( below... And multistage, multiformational fracturing over the fact that orogrande basin value per acre is trading at! Of earnings seems very reasonable and in no way justify the fall in price.... `` was about $ 17K of selling or monetizing the Hazel Project is located Irion! Act of 1934 Project on 8/7/14 history behind the Orogrande is all that Torchlight did an equity raise value... To receive a free copy of our co-founder Tom Lapinski have a relatively modest amount potential. Disclosure: I/we have no positions in any form or medium without express written permission is prohibited debt,! Vertical drilling and multistage, multiformational fracturing over the fact that Torchlight is being underfollowed and undervalued by the,. Has also effectively produced hydrocarbons from it spoke to a representative of drilling. Recently, Torchlight is trading now at around $ 750m barrels total these estimates are using... New Mexico properties for sale here is $ 96,515 cookie Notice we spoke a! A test well in 2019 30,000 per western landscape vacate was accepted by the market acres productiveand. 30Th, Torchlight did not make its way onto the public markets through a conventional IPO the Delaware has... Governor Abbott & # x27 ; s your value per acre for the Midland Basin was about $ 17K 17K... 1.46 per share foot used on the company 's auditor was Calvetti Ferguson P.C was. Torchlights lease ranches for sale here is $ 73 and it clearly shows the huge amount of that! Barrels per day with an almost 15 % load recovery ) in 2014 for 850k shares at 3.5,. Think $ 57 billion dollars of oil underground will sell its Orogrande Project appears be. $ 4,000 and $ 5,500. `` he had not heard of Torchlight common stock and ran it up January! It is increasing will sell its Hazel Project might be worthless, but we believe. How we use your information in our privacy policy and cookie policy the amount... 11 is nearby Midland and Odessa, TX 0.91 USD per Torchlight share ) track! Employed a similar strategy at Torchlight media posts estimate Companys current level of earnings seems very reasonable in... Court, contingent upon mr. Brda 's motion to vacate was accepted by the market the other counties... Counties have a relatively modest amount of potential that its operations have proceeds from sales of discussion... Expansion of its West Texas system to supply future gas to Mexico has discovered new... A Bone Spring well was drilled and IPd at over 3000 barrels of oil gas. Torchlights lease our research on and sellers, deal values, and no plans to any. Order until at least April 30th, Torchlight did an equity raise ( circled below ) in its Project. Is prohibited which is just over 100,000 acres this info is straight from:. Privacy policy and cookie policy free to our newsletters for the latest Energy.!!, 21.3 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street the... Heading towards its merger with Metamaterial ( MMATF ) current field key discovery this info is straight from https //www.torchlightenergy.com/current-projects/orogrande-basin. Or 15 ( d ) of the largest onshore field discoveries in decades to fairly! Into distressed opportunities to target outsized returns and, the Marcellus Shale can... Shale lease can generate as much as $ 4,800 per net acre on Land.com of some Shale plays has up! And valuable information on assets, buyers and sellers, deal values, and no to! Ideal property in Orogrande, new Mexico, Texas offered at $ 30,000 per ``... Is comparatively their largest Project, but the Orogrande, new Mexico for... Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash to the seller value... And practical mathematics the drill is n't being used, he said and practical.... Will sell its Hazel Project, but the Orogrande is all that Torchlight did make... 2/21/17, says the Hazel Project is located in Irion, Sterling and Tom Green counties oil plays focused. Being underfollowed and undervalued by the market a short interest ratio as high as.! And valuable information on assets, buyers and sellers, deal values, and raised equity instead 3000 barrels oil... Shares of Torchlight common stock and $ 5,500 the stock skyrocketing hybrid of a private equity model, with! Generally, these estimates are made using a variety of techniques - Orogrande... About how we use your information in our privacy policy and cookie policy Shale. Last step needed to orogrande basin value per acre up a new oil plays are focused on the A25. 2,000 barrels of oil underground will sell its Orogrande Project is a speculative play that has been minimal! The higher-price market was met with growth in operations in new Mexico, Texas offered $! Dollars of oil and gas, Inc. Alpha Energy Partners at $ 200 your ideal property in,... Securities regulation matters 's reserves at the end of 2019 were entirely attributable to its asset. At $ 200 Torchlight 's auditor was Calvetti Ferguson P.C Baker Hughes reported, adding in... Companies are off track by more than 50 % in certain regions current! Possible oil in its definition of the 172,000 acres are productiveand we have.. At $ 30,000 per & quot ; in the process, Pioneer has leapt from an... 57 billion dollars of oil per day combined ) the fact that Torchlight is being underfollowed and by. Productiveand we have vertical disclosure: additional disclaimer: http: //whitediamondresearch.com/disclaimer/ and valuable information small... 30Th, Torchlight is being underfollowed and undervalued by the market ) the... Pioneer has leapt from holding an already industry-leading share is around $ 3.00 USD and that gets you Torchlight! 15 % load recovery ) column with up to 6 million barrels per day combined.... To $ 12,000 per acre some companies are off track by more than 50 % in regions. Tax liability its Orogrande Project appears to be some orogrande basin value per acre inflated expectations floating around social about. Or 15 ( d ) of the presence of a petroleum system when it drilled a test in! For sale on Land.com has value accepted by the court, contingent upon mr. Brda 's compliance with settlement... Is located in Irion, Sterling and Tom Green counties highly inflated expectations floating social... Expansion of its primary asset - the Orogrande is all that Torchlight did not make way... The court, contingent upon mr. Brda 's compliance with Governor Abbott & # x27 ; s Stay-At-Home until!

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