orogrande basin value per acre

FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. It shows a video of an aerial view of the rig: And here is a picture of a side view of the rig with the name and number of it: These are nice pictures, but we believe they give the impression to shareholders that there is activity going on right now on the Orogrande. Value per acre is another metric that ranges based on numerous factors. According to Torchlight's 2012 10-K (and not mentioned in the other 10-Ks): Involvement in certain legal proceedings. Prices per acre can range from $10,000 to $60,000 in Texas. Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. 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. 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. Prior to the Q2 2013 10-Q, the company's address was listed as 2007 Enterprise Avenue in League City, Texas. We specialize in the technology and healthcare sectors. Torchlight's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. 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. Browse LandWatch's Texas land for sale page to find more rural . This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. I am not receiving compensation for it (other than from Seeking Alpha). We believe this news could really change the market perception and send the stock skyrocketing. Price Per Acre. For the Quarter Ended September 30, 2019 . Browse Orogrande, New Mexico properties for sale on Land.com. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). Torchlight's special dividend is likely to have limited value though. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. 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. In April, closely held DoublePoint Energy sold to Pioneer . The Company has an 80% net revenue interest in this region. He has a B.S. Mr. Brda, who also co- founded the Company, has been the Managing Member of Brda & Company, LLC since 2002, which provides consulting services to public companies - with a focus in the oil and gas sector. April 05, 2017 08:45 ET | Source: Streetwise Reports. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. Torchlight's Winkler Project sale involves a price of approximately $3,333 per net acre. It is my understanding that this is misinformation. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. Northern Oil and Gas, Inc. Alpha Energy Partners. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 Can we trust Torchlights financial reporting? A searchable database of oil and gas debt and equity offerings. 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. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. 2023 Hart Energy. 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 . 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. 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. Database of selected U.S. and international exploration wells. The second big point is the positive gross margin. WTI crude prices have been well below $40 per barrel for most of the year. 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. More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices These land listings comprise a combined 21,863 acres of land and other rural acreage for sale in the region. This change was likely made after the SEC issued a cease-and-desist order to Giamichael and Umbrella relating to the nature of their research and reports. New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. The Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico and four counties of West Texas. If you do the math on that it lands somewhere around $750m barrels total. Mr. Brda's motion to vacate was accepted by the court, contingent upon Mr. Brda's compliance with his settlement. 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. The Orogrande Basin Project & Its Big Breakthrough. Torchlight Energy has an enterprise value of over $130M. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. Today, almost five years later, Torchlight hasn't proved any resources on the Orogrande. 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. Instead of selling or monetizing the Hazel Project last year, Torchlight did an equity raise. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. Winkler County is ranked 21st in terms of oil production among Texas counties (still over 40,000 barrels of oil per day). 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. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. . Within Radius. 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. 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. He said they did lease out the drill back around February or March of 2018. $1,600. This is clearly the sign of a big investment opportunity in the stock. Adjacent leases still sale for $10/acre or less. The price per acre for the Midland Basin was about $17K. has pushed up prices. We went to the Sendero Drilling website, and you can actually locate where their rigs are. Washington, D.C. 20549 . I wrote this article myself, and it expresses my own opinions. 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. Mr. Wurtele has been Torchlight's CFO since September 2013. 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. 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 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. Find out more about how we use your information in our privacy policy and cookie policy. From the 2018 10-K, it says: In April 2018, we announced that we have commenced a process that could result in the monetization of the Hazel Project. This basin, known as the Orogrande . People think it will actually hit $100 this year. SAN FRANCISCO, CA-- (Marketwired . 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. 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. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. The Business Overview section of Torchlight's 2017 10-K, filed on 3/16/18, states: We anticipate acquiring exploration and development projects both as a non-operating working interest partner, participating in drilling activities primarily on a basis proportionate to the working interest, and acquiring properties we can operate. 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Reserves as of Torchlight 's CFO since September 2013 Securities Exchange Act of 1934 disclaimer! As 2007 Enterprise Avenue in League City, Texas Winkler County is ranked 21st in of... And digitalization can increase production in the Permian Basin Energy shares traded below that crucial $ level... Orogrande Basin Project & amp ; its big Breakthrough leases still sale $. Acre is another metric that ranges based on numerous factors oil production among counties... Proved out ( zero proved reserves as of Torchlight 's special dividend ) appear to have value... Enterprise value of over $ 130M the last decade Project & amp its... Been proved out ( zero proved reserves as of Torchlight 's oil and gas Inc.! Brda 's motion to vacate was accepted by the court, contingent upon mr. 's... 21St in terms of oil per day, directly offsetting Torchlights lease big investment opportunity in the other 10-Ks:... 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