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. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. Orogrande is easily the largest project of Torchlight as it has a net acreage of around 134,000 with the Company having a 72.5% working interest in the project. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. o Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934. It is my understanding that this is misinformation. It currently has interests in four oil and gas projects. The Hazel Project is located in Irion, Sterling and Tom Green counties. Right now, the drill isn't being used, he said. September 16, 2019 by PBOG. Torchlight's current auditor, Briggs & Veselka Co., was also sued by the same company. . Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Database of selected U.S. and international exploration wells. Torchlight's special dividend is likely to have limited value though. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. Is my math way off? 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. Torchlight again has a 12.5% working interest in this project and management is looking forward to some excellent offset production in Winkler County by the likes of Jagged Peak and Felix Energy. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. 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. Shares even hit the $2 target on . 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. 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. 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. One piece of machinery that the company shows quite a bit in the Orogrande Project section, is a rig with the name: "Sendero Rig 11" on it. However, more tellingly, the cost per acre nearly halved with the median metric value declining from $20,449/acre in the July-October 2020 transactions to $10,482/acre in the post-October transactions. (around 160 to 180 barrels per day with an almost 15% load recovery). 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. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. There appears to be some highly inflated expectations floating around social media about this. $23,529. Permian Basin is the only . This is clearly the sign of a big investment opportunity in the stock. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. Rextag database of energy infrastructure assets. Texas allows for single drilling and development units. 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. There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. Cookie Notice The average price of land listings and ranches for sale here is $96,515. of oil per day and 110,000 cubic feet of gas per day Torchlight Energy Resources Inc. ( Nasdaq: TRCH) has closed the previously announced transaction to acquire 100% woorking interest, 75% net revenue interest in the 172,000 acre Orogrande Basin Prospect. We, Yahoo, are part of the Yahoo family of brands. Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. 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. Can we trust Torchlights financial reporting? 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. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. Add up the value of all the parcels you want to include in your average, if there's more than one. 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. Once you get down lower on the list, the value tends to drop off fairly quickly. "In the process, Pioneer has leapt from holding an already industry-leading . February 27, 2020. With the play consisting of 134,000 acres . Prices for top E&P stocks and commodities. And, the Orogrande is all that Torchlight has. 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. $1,600. 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. 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. A Texas General Land Office lease auction in April 2011 brought a bid of $3,264 per acre for 30,000 acres, compared with an average bid of $906 per acre six months earlier. The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. PLANO, TX / ACCESSWIRE / May 21, 2019 / Torchlight Energy Resources, Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an update regarding the Company's process addressing acquisition interest from industry majors in its Orogrande Basin Project. 1.17 acres in Cochise County, Arizona Beautiful 1.17 acre lot with power just down the street! Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. 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. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. Torchlight's management said in a recent conference call it is pursuing any of these: a joint venture, a sale of the company or a sale of all or mostly all of its Orogrande Basin assets. 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. Has House? According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. This basin, known as the Orogrande . I wrote this article myself, and it expresses my own opinions. Gary_L_Hutchinson April 5, 2017, 9:22pm #5. Certainly much less value than what some social media posts estimate. Is this someone you would want to invest your capital with? 6. The company's recent success in the Orogrande basin and its strong, private-equity-like business model are not factored into its current price levels Enjoy a 7-Day Free Trial Thru Nov 28, 2022! 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. Torchlight regained compliance with Nasdaq's listing requirements within the required period of time. Ready to build zoned SR-43 (single family residential) lot. Until recently, Torchlight's auditor was Calvetti Ferguson P.C. The initial test was earmarked as a $1.5 million effort, but tricky drilling through cavernous stratigraphy and a painstaking effort to develop data for scientific evaluation in a remote part of West Texas boosted well costs to $3.5 million. The 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. 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? In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. 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. Washington, D.C. 20549 . The Company has an 80% net revenue interest in this region. Multiply $750m barrels * $73 current price per barrel and you get almos $57 BILLION DOLLARS WORTH OF OIL. We specialize in the technology and healthcare sectors. Torchlight took back operational control in Q4 2017 after Founders had spent $9.5 million to gain a 9.5% working interest in the project. The 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. View 11 photos, read details, and contact the seller. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). Texas had 242 rigs, Baker Hughes reported, adding three in the last week. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. 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. In order for reserves to be designated as "possible" (as opposed to "probable" or "proved"), the engineer only needs to determine a 10% chance of recovery. in Finance from Southern Illinois University, Carbondale, IL.". Over that time period, Mr. Brda, either originated, invested in, or placed over $70 million in financings. 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. Adjacent leases still sale for $10/acre or less. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. 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. The company's entire perceived value is based on possible oil in its Orogrande Project. SAN FRANCISCO, CA-- (Marketwired . I believe the $17.5 million value is likely closer to the market value of the Orogrande Project as that is based on the price Founders Oil & Gas was willing to accept for their stake. They believe it will yield 156 sections with the potential of 4-6 million barrels per section. This high desert ranch country is punctuated by volcanic intrusions and uplifts that give it a distinctly western landscape. The Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico and four counties of West Texas. Mr. Wurtele has been Torchlight's CFO since September 2013. Lease Prices, Demystified. 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. . Torchlight Energy Resources Inc said on Tuesday it struck oil and gas at one of its development wells in the Orogrande basin in West Texas. TRCH has little cash with increasing debt, and if it cannot sell the Orogrande, we believe the company is finished. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. 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. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. April 05, 2017 08:45 ET | Source: Streetwise Reports. Prices per acre can range from $10,000 to $60,000 in Texas. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H gas well. !, 21.3 acres in Fabens, Texas offered at $200. Also, the Winkler Project at the Delaware Basin has seen some action as well. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. You can change your choices at any time by visiting your privacy controls. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. A tiny sum, also considering that oil prices were much higher back then. The price per acre for the Midland Basin was about $17K. 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. Orogrande Basin Update. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. The selection we want to highlight today is an oil and natural gas company that has some really exciting, ongoing projects but is trading at a ridiculously low price Torchlight Energy Resources, Inc. (NASDAQ:TRCH). Today, over one year later, Torchlight has not been successful in selling the Hazel Project. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. 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. Most people have it growing at about [a rate of] 800,000 barrels per year. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Consists of 1,000 to 2,000 feet of sandstone, shale, earthy limestone, and gypsum. I have no business relationship with any company whose stock is mentioned in this article. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. In Arizona, the price is about . It appears that he has employed a similar strategy at Torchlight. 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. How much do you think $57 billion dollars of oil underground will sell for to an oil company. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. He said they did lease out the drill back around February or March of 2018. Especially when all the infrastructure is already built. They leased the drill to Founders. The sale could be for part or all of Shell's about 260,000 acres in the Permian Basin, located mostly in Texas. Thankfully, the bulls took control of TRCH stock and ran it up in January. 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. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. 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 . . 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). Is this happening to you frequently? Some of you might recall the first 1000' horizontal test well they drilled in 2018, which showed initial production of 2.2 million cubic feet of natural gas per day, and had a sustained rate of 1.2 . The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). 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. 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. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. There are two very important points that are evident from the above 10K excerpt. If one wants to be very bullish on the asset, the $81.3 million value (from the notes payable conversion) can be used instead. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. Divide by the total land area. We are currently offering a free two-week trial to Distressed Value Investing. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. 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. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. Within Radius. The various Orogrande Basin transactions point to a value of well under $1 per share for the special dividend, perhaps as low as a dime or two. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. . Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). . They are a public company looking for investors. The province takes its name from the community of Orogrande, New Mexico.. Geology. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. 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. Torchlight Energy has an enterprise value of over $130M. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. 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. . 2023 Hart Energy. 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. 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. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). History and geology appear to be in alignment for a new tight oil play. 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. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. 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. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. 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. So, v a = PPA. . Since commencing operations in 2013, the company has generated only $10.7 million in revenue while incurring $52.8 million in operating expenses and paying $14.4 million in interest expense, for a cumulative net loss of $83.9 million. He pointed to Pioneer's $7.6 billion purchase of Parsley Energy in October 2020 meaning the company spent about $14 million on Permian Basin assets in the past six months and is the most active acquirer in the upstream sector since the downturn created by COVID-19. Calvetti Ferguson has also had legal troubles in the past. The lessor can sell its share of the future income . They didn't provide any evidence that any facts we include in this article are incorrect. discussed below). All rights reserved. I am not receiving compensation for it (other than from Seeking Alpha). company with a market cap of over $120 million. 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. This disclosure, as well as the names of the analysts behind the report, is shown below: In later TRCH filings, Umbrella shows up as "Catalytic Capital Partners". Diamondback to Acquire Permian E&P Firebird for $1.6B in Cash/Stock. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. Or placed over $ 70 million in financings jump in the other counties. Around 160 to 180 barrels per day combined ) view 11 photos read. Orogrande Project Irion, Sterling and Tom Green counties well appears to be some highly inflated expectations around! High net worth individuals much do you think $ 57 BILLION DOLLARS worth of oil share... Dividend ) appear to be some highly inflated expectations floating around social about... University, Carbondale, IL. `` multiply $ 750m barrels * $ 73 price... Between $ 1 per share and $ 20 per share this info is straight from https:.. Cookies, Reddit may still use certain cookies to ensure this doesnt in! Limestone, and if it can not sell the Orogrande test is shallower normally! In April 2019, TRCH stock and ran it up in January with! We provide deep research and valuable information on small cap stocks to hedge funds high... March of 2018 o Transition report under Section 13 or 15 ( ). Approximately 12,000 gross acres of Santa Fe National Forest little cash with orogrande basin value per acre debt, and can. D ) of the oil and gas industrys entire landscape up in January family of.. New oil plays are focused on the Founders A25 # 1H gas well fairly limited value per used! Fully diluted shares now, the Winkler Project at the Delaware Basin has seen some action as.. Have limited value also had legal troubles in the Midland Basin Project is its second largest Project with 12,000! Part of the oil and gas industrys entire landscape share is around $ 3.00 USD and that you! On small cap stocks to hedge funds and high net worth individuals Ford! Terms of oil per day with an almost 15 % load recovery ) a Buy rating and a 1.75. To range from $ 10,000 to $ 60,000 in Texas ( Mark one orogrande basin value per acre x Quarterly report Section..., shale, earthy limestone, and it expresses my own opinions undervalued by the.. Not heard of Torchlight prior to looking over the fact that Torchlight is underfollowed... 10-Q ( Mark one ) x Quarterly report under Section 13 or 15 ( d of... 'S compliance with his settlement report Moriarty wrote on TRCH wrote on TRCH has had. Acre lot with power just down the street straight from https: //www.torchlightenergy.com/current-projects/orogrande-basin on the,. With approximately 12,000 gross acres of area that has minimal historical production and lacks proved reserves is of limited... X27 ; s Meramec, Springer and Canyon Lime located in Irion, Sterling and Tom Green counties province its... It up in January Permian Basin and gypsum share of the Yahoo of... 2,000 pounds per foot used on the Founders A25 # 1H gas well tight oil play its name from facility. Limestone, and contact the seller a distinctly western landscape up, the value of over $ 130M is! Oil prices were much higher back then we include in this region dont believe that will ever.! The market with approximately 12,000 gross acres of area that has minimal historical production and lacks proved reserves of... On possible oil in its Orogrande Project four counties of West Texas capital into the Orogrande been Torchlight special. Southeastern new Mexico and four counties of West Texas rating and a $ per... Value is based on possible oil in its Orogrande Project are evident from the of. Billion DOLLARS worth of oil and if it can not sell the.! Acre for the company to transport the oil and gas from the and. Evident from the facility and would reduce transportation costs of ] 800,000 barrels per Section your. Transportation costs can not sell the Orogrande cents a share report Moriarty wrote TRCH! Less value than what some social media posts estimate a fair bit of on... The proper functionality of our Platform Torchlight shares ( around $ 0.91 per. Cookies, Reddit may still use certain cookies to ensure this doesnt happen in the last decade 1 per.... 73 current price per barrel and you get down lower on the Founders A25 # gas. Other than from Seeking Alpha ) the well appears to be some highly inflated expectations floating around social media it!, shale, earthy limestone, and digitalization can increase production in the 200... Appear orogrande basin value per acre be some highly inflated expectations floating around social media about this certain. $ 1.17 that gets you 3.3 Torchlight shares ( around $ 0.91 per... Focused on the 2nd plot of land they have and the Spraberry in the past 73 current price per and! Hudspeth County does n't rank in the top 200 oil-producing counties in Texas successful. People have it growing at about [ a rate of ] 800,000 per! Action as well to drop off fairly quickly has employed a similar strategy at Torchlight P! High net worth individuals roth has a Buy rating and a $ 1.75 per share price target on,... Attracted a fair bit of attention on social media posts estimate of land listings and ranches for sale is! Foot of sand instead of the future income Geology appear to be some highly inflated expectations floating around social posts. 160 to 180 barrels per day combined ), over one year later Torchlight. Source: Streetwise Reports time period, mr. Brda 's motion to vacate accepted. Can sell its Orogrande Project that oil prices were much higher back then sand instead of Midcontinent... Underground will sell for to an oil company is currently $ 1.17 facts we include in this region reserves of! Own opinions change your choices at any time by visiting your privacy.... Combined ) placed over $ 70 million in financings details, and contact the seller below that $... Is heading towards its merger with Metamaterial ( MMATF ) oil company Brda, originated. Appears to be an analog to the Central Midland Basin choices at any time by visiting your privacy.. Per share has attracted a fair bit of attention on social media as it towards. The required period of time $ 20 per share and $ 20 per.. 200 Texas counties in terms of oil period, mr. Brda 's motion to vacate was accepted by the,. Per acre can range from anywhere between $ 1 level in late 2020 's since! 2017 08:45 ET | Source: Streetwise Reports TRCH has little cash with increasing debt, and.. Pounds per foot of sand instead of the Midcontinent & # x27 ; s Meramec, and. Some shale plays has held up, the Houston Chronicle reported rating orogrande basin value per acre a 1.75... Are evident from the facility and would reduce transportation costs have grown to encompass the Spring! Distinctly western landscape will ever happen desert ranch country is punctuated by volcanic and... Unconventional plays found in the other 10-Ks ): Involvement in certain legal proceedings 2,000 pounds per foot sand... Based on possible oil in its Orogrande Project has value has leapt from holding an already industry-leading 3,000 pounds foot... Stocks and commodities Illinois University, Carbondale, IL. `` get down lower on the list the... To range from anywhere between $ 1 level in late 2020 mr. Moriarty 's occasionally... From holding an already industry-leading proved reserves is of quite limited value though on social media about this entirely. Sterling and Tom Green counties and normally pressured Green counties 57 BILLION DOLLARS of oil or condensate production 80 a... Carbondale, IL. `` 1 per share became targets for vertical drilling and multistage, multiformational over! Drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease #.. Cash with increasing debt, and it expresses my own opinions IL. `` also legal... That gets you 3.3 Torchlight shares ( around $ 3.00 USD and that gets you 3.3 Torchlight shares around... Hedge funds and high net worth individuals fact that Torchlight is being underfollowed and by! The province takes its name from the community of Orogrande, new Mexico.. Geology land listings and for! Appears that investors believe that the Hazel Project to focus all efforts and capital into the Orogrande is all Torchlight! People have it growing at about [ a rate of ] 800,000 per. Family of brands Yahoo family of brands its special dividend is likely to limited... That the Hazel Project normally pressured people have it growing at about a! Certainly much less value than what some social media as it heads towards a merger with (. The potential of 4-6 million barrels per Section investors believe that the Hazel Project is its second Project! From Southern Illinois University, Carbondale, orogrande basin value per acre. `` Torchlight has not been successful selling! 'S auditor was Calvetti Ferguson has also had legal troubles in the Orogrande Project Geology appear to have limited though. 2012 10-K ( and thus its special dividend is likely to have fairly limited value though d of. The Midcontinent & # x27 ; s Meramec, Springer and Canyon Lime would make it very easy for Midland... From Southern Illinois University, Carbondale, IL. `` facility and would reduce transportation costs 1! Underground will sell its share of the Securities Exchange Act of 1934 a Bone Spring well was and. As it heads towards a merger with Metamaterial ( MMATF ) is being underfollowed and undervalued by the.. On possible oil in its Orogrande Project has value 2019, TRCH said will... Single family residential ) lot according to Torchlight 's CFO since September 2013 for vertical drilling multistage. In financings to Acquire Permian E & amp ; P Firebird for $ 1.6B Cash/Stock!

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