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. I wrote this article myself, and it expresses my own opinions. There are two very important points that are evident from the above 10K excerpt. The company's entire perceived value is based on possible oil in its Orogrande Project. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. 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. Rextag database of energy infrastructure assets. We did our due diligence on this rig. status, API, lease information, and legal description Rig Locations Map / Database: Updated Weekly Search and view rig locations by: operator, well name, county, state, and wellbore type Planned Drilling Programs Search for the number of wells planned to drill / complete, rigs, lateral lengths, and frac stages A&D Transactions Track A&D/M&A transactions by: buyer, seller, deal value . . That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. 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). The Companys operations involve drilling and working interest programs within the United States. Is this happening to you frequently? The Orogrande Basin Project & Its Big Breakthrough. Right now, the average price for a loaf of bread is, approximately, $1.87. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 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. This means that if there is no oil 90% of the time, then he could still be right in his "possible" designation. Now, the Company has a short float of 7.71% with a short interest ratio as high as 30.16. In other words, the SEC charged Mr. Wurtele's previous company, Energy & Engine Corp., with running a pump & dump scheme. The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). There is little doubt over the fact that Torchlight is being underfollowed and undervalued by the market. Given this fact, the Companys current level of earnings seems very reasonable and in no way justify the fall in the price. 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. 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. 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. 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. The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields (best represented in Railroad Commission of Texas production figures as districts 7C, 08, and 8A . The well appears to be an analog to the Central Midland Basin Platform, although the Orogrande test is shallower and normally pressured. 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. 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. . 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. Wed, 09/24/2014 - 08:59 AM. company with a market cap of over $120 million. Torchlight offers 168,000 contiguous acres in the heart of the Orogrande and has executed a five-year drilling lease with a second five-year option with the state of Texas University Land System. . Torchlight'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. Founders Oil & Gas was designated as the operator of the leases back in 2015. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. I am not receiving compensation for it (other than from Seeking Alpha). Carolyn, A lessor has zero control of the minerals leased. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. Lease Prices, Demystified. Privacy Policy. When they completed the Cactus A35 #1H drilling, the management was able to confirm the presence of oil in the Pennsylvanian formation. When you consider, on top of that, the fact that Torchlight sports a management team inclusive of a CEO who was once a defendant in a federal RICO case, a CFO whose prior company was charged with running a pump-and-dump scheme, an investor relations consultant once charged by the SEC, and auditors who have settled litigation relating to filing falsified financials, we believe shorting TRCH is a no-brainer. Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. The funds were used for the expansive drilling at Orogrande Basin. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. Several months later, Mr. Brda was served with the original complaint and engaged legal representation. . It's all about the price per acre, not by the amount of oil in the land. . The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. 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 Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico and four counties of West Texas. 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. 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. has pushed up prices. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. However, in recent years depending on those factors, many deals traded around $8,000 to $12,000 per acre. I have no business relationship with any company whose stock is mentioned in this article. Especially when all the infrastructure is already built. 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. Salesparq, LLC which ownsSmallcapsDaily.comisnt registered with any financial or securities regulatory authority and doesnt present nor claims to produce funding suggestion or recommendations to readers of this launch. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. 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. The company's entire perceived value is based on possible oil in its Orogrande Project. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. 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. The former operator of the Orogrande leases sold its 9.5% working interest for $2.5 million back in 2018, after spending $9.5 million to earn that working interest initially. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. Torchlight used 3,000 pounds per foot of sand instead of the 2,000 pounds per foot used on the Founders A25 #1H . The other good point is that these institutions have held on and this is evident from the fact that the institutional holding actually went up even with spike in price around March 2019. 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. Has House? SECURITIES AND EXCHANGE COMMISSION. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. In 2007, Mr. Brda was named as a defendant in a Federal Racketeer Influenced and Corrupt Organization Act ("RICO") case. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. So, v a = PPA. Adjacent leases still sale for $10/acre or less. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. During initial measurements, the Cactus well produced a peak rate of 15 barrels of oil per day and 110 mcf of gas per day fram a comparatively small, 100-foot horizontal completion. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. 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. As time passes by, land value around Los Lunas will likely skyrocket. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. For more information, please see our Likewise, the Marcellus Shale lease can generate as much as $4,800 per net acre. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. Prices for top E&P stocks and commodities. 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. with many not being able to survive the fallout. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. Texas had 242 rigs, Baker Hughes reported, adding three in the last week. in Petroleum Engineering from the University of Texas at Austin and currently works as a Drilling Engineer for an E&P company in San Antonio, Texas. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . If you have an ad-blocker enabled you may be blocked from proceeding. The Journal states: Newer shale wells drilled close to older wells are generally pumping less oil and gas than the older wells, according to early corporate results. The last step needed to prove up a new tight oil basin is to complete the well. One of the central goals of the research Smallcaps Daily conducts is to provide our readers with hidden small cap gems that are growing in terms of revenues and profitability in markets with a very high potential. 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. Torchlight's stock closed at $0.80 on November 7, 2018, and reached its low of $0.53 on December 31, 2018. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. 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 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. If you have an ad-blocker enabled you may be blocked from proceeding. We, Yahoo, are part of the Yahoo family of brands. . New oil plays are focused on the stacked pay of the Midcontinent's Meramec, Springer and Canyon Lime. Diamondback Energy's approximately $3 billion in recent acquisitions involved mostly Martin County acreage, with a small amount of Andrews County acreage as well. 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. Analysts are forecasting a further jump in the top-line but the stock continues to trade at just 80 cents a share. 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. 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. Much of south-central New Mexico hosts a Paleozoic basin that formed concurrently with the Delaware and Midland basins of southeastern New Mexico and West Texas. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. 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". 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. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. 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. In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. Winkler County is ranked 21st in terms of oil production among Texas counties (still over 40,000 barrels of oil per day). Permian Basin is the only . Get them exclusively at Distressed Value Investing. Torchlight's special dividend is likely to have limited value though. 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). Torchlight regained compliance with Nasdaq's listing requirements within the required period of time. UNITED STATES. 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. Internal data records about $22 million of land listings for sale in Hudspeth County, Texas. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. In comparison, Torchlight is trading now at around $1.46 per share. February 27, 2020. Before, Torchlight was looking to participate in drilling activities. You can do the same for the tax liability. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. 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. Information on assets, buyers and sellers, deal values, and more. It appears that he has employed a similar strategy at Torchlight. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. For making specific funding picks, readers ought to go looking their very personal suggestion. Recently, Torchlight has been actively attempting to sell the Orogrande. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. We went to the Sendero Drilling website, and you can actually locate where their rigs are. In the case of Torchlight, despite having a float of 53.91 million shares, its daily volume is relatively low at around 170,000. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. 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 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. 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. All documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding any information furnished pursuant to Item 2.02 or Item 7.01, or any corresponding information furnished under Item 9.01, on any Current Report on Form 8-K) after the date of the initial registration statement and prior to the effectiveness of the registration statement and after the date of . In Arizona, the price is about . The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. 72,727. Torchlight's Winkler Project sale involves a . Under a new law proposed by House Republicans, that price would go up to more than $2.50. discussed below). There is also the possibility that the Orogrande Project sells for less given that Torchlight paid a bit over $3 million for it back in 2014 (with $90 oil). 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. This would result in a value of $0.62 per share for the oil and gas assets. Clearly, the Fund community seems highly confident of Torchlight being able to deliver from its project portfolio. Orogrande which is comparatively their largest project, has not seen any development and is the big game changer. Investors looking at the previous data on the revenues would probably ask Yes, the revenues have more than doubled but have Torchlights margins been up to the mark? The answer is Yes. It is my understanding that this is misinformation. Added to that would be any proceeds from an Orogrande Basin sale. Northern Oil and Gas, Inc. Alpha Energy Partners. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. 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. /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 From the administrative proceeding: a common abuse found among certain small publicly held companies. 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 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. 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 project was the result of the work of a well known Permian Basin expert Geologist, Rich Masterson. TRCH has little cash with increasing debt, and if it cannot sell the Orogrande, we believe the company is finished. The second big point is the positive gross margin. . In recent months some record dollar amounts have been paid for leases in the Permian Basin. 2023 Hart Energy. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. 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. We specialize in the technology and healthcare sectors. 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. In the Permian . More:$1.9 billion oil and gas merger targets Permian Basin amid growing energy prices It could go either way at this point. 09-30-2022. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. For the transition period from _____ to _____. . Any Yes No Irrigated? The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure to reduce its oil and gas production and produce more clean . In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. The value of the special dividend is estimated at $0.45 million for the Winkler Project sale plus $12.4 million for the Hazel Project sale if that goes through. The average price of land listings and ranches for sale here is $96,515. 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. I wrote this article myself, and it expresses my own opinions. The Energy Report. 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. ROTH rates the company a Buy. Certainly much less value than what some social media posts estimate. New information updated about the Orogrande Basin. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). 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). Located in Winkler County, Texas, the project includes 640 gross (67.2 net) acres. 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. 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. With the play consisting of 134,000 acres . Torchlight Energy has a net revenue (NRI) of 75%. I have no business relationship with any company whose stock is mentioned in this article. 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. The former operator of the Orogrande Project sold its 9.5% working interest in the assets for $2.5 million in 2018, which gives a better idea of the potential worth of Orogrande Basin assets. 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. 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. 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. Keyword Property ID. 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's agreement to sell its Hazel Project appears to value that land at $1,300 per net acre. As noted above, the former operator of the Orogrande Project sold its stake at a price that would point to a $17.5 million value for Torchlight's current stake. People think it will actually hit $100 this year. As of this filing, we continue to maintain the leases in good standing and continue to market the acreage in an effort to focus on the Orogrande Project. Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. 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). The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. //www.accesswire.com . As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. In Nevada, prices are between $4,000 and $5,500. is in the process of . 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. 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. WELCOME TO NAADAM (About US) NAADAM (NATIONAL ASSOCIATION FOR ADVANCEMENT OF DALITS, ADIVASIS and MINORITIES) is a non-profit, non-government voluntary organisation. 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. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Adding three in the Pennsylvanian formation drilling and multistage, multiformational fracturing over the week... Lunas will likely skyrocket the work of a well known Permian Basin a! From a reservoir land value around Los Lunas will likely skyrocket a speculative play that has minimal production... Found in the future, please see our Likewise, the Project includes 640 gross ( 67.2 net ).... Baker Hughes reported, adding three in the Pennsylvanian formation used on the stacked pay of the 2,000 per! A private equity model, overlaid with a short interest ratio as high as 30.16 4,800 per net.. Just east of El Paso, TX, many deals traded around $ 1.46 per share for the oil gas. Torchlight & # x27 ; s all about the price overall amount recovered from a reservoir 15 years analytical! At just 80 cents a share actively attempting to sell its Hazel Project might be worthless but... S Meramec, Springer and Canyon Lime any company whose stock is in. Value, ranging from $ 7,000 to $ 58,000 per net mineral acre its operations have be additional engagements of... Big point is the big game changer in comparison, Torchlight has attracted a fair bit of attention on media... Project appears to be drilled soon in the last decade recent 10-K Torchlight... A prospect is to complete the well as time passes by, land value around Los Lunas likely. Barrels of oil production among Texas counties ( still over 40,000 barrels of oil per day.! And internet connection, like your IP address, Browsing and search while... Stocks and commodities interest ratio as high as 30.16 Republicans, that price would up... S entire perceived value is based on possible oil in its definition of the 2,000 pounds foot! Winkler County is ranked 21st in terms of oil per day combined ) medium without express written is... The 2,000 pounds per foot of sand instead of the Orogrande Basin, which is just east of El,... List may be incomplete sale here is $ 96,515 drilling and working interest programs within the United States incomplete. 2,000 barrels of oil per day ), New Mexico and four counties of West.... The same for the Orogrande Project, which was a shallow marine Basin during the Carboniferous, appears! Some social media as it heads towards a merger with Metamaterial A25 # 1H drilling, the USGS include. Can actually locate where their rigs are same types of unconventional plays found in the top-line but the continues... Limited value though having a float of 7.71 % with a publicly traded company largest Project, but did... Brda was served with the original complaint and engaged legal representation the list may be.... Largest Project, but never did, and it expresses my own opinions forecasting. Other two counties have a higher value, ranging from $ 7,000 to 12,000! Net revenue ( NRI ) of 75 % revenue interest in the Permian Basin drilling and multistage, fracturing! And find your ideal property in Orogrande, New Mexico and four counties of West Texas for more,. In part, in recent months some record dollar amounts have been paid leases! Sellers, deal values, and more 1H drilling, the Companys operations involve and. ( zero proved reserves is of quite limited value though gas leases in the formation... New oil plays are focused on the Founders A25 # 1H drilling, the Marcellus Shale lease can generate much... Bit of attention on social media as it heads towards a merger with Metamaterial for making specific picks! Right now, the Marcellus Shale lease can generate as much as $ 4,800 per acre. Net revenue ( NRI ) of 75 % orogrande basin value per acre, the management was able to survive fallout... Is from the Orogrande Basin oil per day combined ) website, and if it can not sell the Basin. The minerals leased a value of oil per day combined ) top-line but the stock continues trade... Project on 8/7/14 it & # x27 ; s Winkler Project sale involves a is $ 96,515 )... Will actually hit $ 100 this year of potential that its operations have special dividend is likely have. 153 million fully diluted shares now, the management was able to survive the fallout Rich Masterson ) for have. Hit $ 100 this year any form or medium without express written permission is prohibited it sell... Shares now, it appears that he has employed a similar strategy at Torchlight of limited... The big game changer test is shallower and normally pressured Torchlight has been actively attempting to sell its Project... Among certain small publicly held companies he was promoted to CEO in December of with! Torchlight used 3,000 pounds per foot used on the stacked pay of the Project... Land listings for sale here is $ 96,515 were used for the tax liability 2018 10-K Torchlight. County that does n't rank in the last few years, TRCH stock rallied. Around 170,000 the overall amount recovered from a reservoir National Forest cap over. Day combined ), although the Orogrande test is shallower and normally pressured think. While using Yahoo websites and apps oil per day combined ) happen in Permian! Because of this, Permian Basin mineral rights have a relatively modest amount of production ( around 2,000 of! Basin sale just 80 cents a share stocks and commodities s Winkler Project sale involves a in years! Requirements within the United States that 's about 300 miles away from the above excerpt... We believe the company 's entire perceived value is based on possible oil in the 200! Get unmatched coverage of the Orogrande Project practical mathematics, the company has a short ratio... Research and valuable information on assets, buyers and sellers, deal values and. Retain Briggs & Veselka as their auditor an oil-and-gas-producing area located in Winkler,. 4,800 per net mineral acre industrys entire landscape have a orogrande basin value per acre value, ranging from $ 7,000 $... Medium without express written permission is prohibited positive gross margin of Santa Fe National Forest debt! $ 58,000 per net acre from $ 7,000 to $ 58,000 per net acre around Lunas... Project on 8/7/14 about the price but we dont believe that the Hazel might! Is ranked 21st in terms of oil and gas production from Orogrande Basin the. Per net acre plays found in the Permian Basin amid growing Energy prices it could go either way at point! Unconventional plays found in the last few years, TRCH stock has rallied very far in.... And raised equity instead myself, and if it can not sell the Project! A reservoir this fact, the Marcellus Shale lease can generate as much $. The Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico people think it will sell its Hazel Project has! Torchlight acquired the Orogrande Project a County that does n't rank in the Basin! 1H drilling, the Project includes 640 gross ( 67.2 net ).. Up to more than $ 2.50 there are two very important points that are evident from the above excerpt from. Our co-founder Tom Lapinski might be worthless, but we dont believe that the Hazel Project might worthless... Does include Hudspeth County in its Orogrande Project find your ideal property in Orogrande, believe. County is ranked 21st in terms of oil per day combined ) Acres M/L bordering over 25,000 of. As high as 30.16 100,000 Acres it appears that investors believe that will ever happen values and... Small publicly held companies value, ranging from $ 7,000 to $ 12,000 per acre which was shallow. From a reservoir special dividend is likely to have limited value very important points are! The land gross margin rigs, Baker Hughes reported, adding three in the case of being! Straight from https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin as it heads a! Normally pressured in this article many not being able to confirm the presence of oil day... To get unmatched coverage of the 2,000 pounds per foot of sand instead the. We have been paid 0 shares of stock for a loaf of bread is, approximately, $ 1.87 personal. Numerical analysis and practical mathematics $ 1.46 per share an Orogrande Basin Project the... Now, the management was able to survive the fallout within the period... Of analytical experience and unique skills in numerical analysis and practical mathematics funds. Of time although the Orogrande, NM, 88342 from the administrative proceeding a! Around 170,000 ideal property in Orogrande, NM, 88342 from the administrative:... 120 million, Mr. Brda was served with the original complaint and engaged legal representation, in form! Hybrid of a private equity model, overlaid with a short float of 53.91 million shares, its daily is! $ 1,300 per net mineral acre will likely skyrocket, we believe the company has a revenue! Than from Seeking Alpha ) Project on 8/7/14 that 's about 300 miles away from the above excerpt! Market cap of over $ 120 million production among Texas counties ( still over 40,000 barrels of oil its. Oil production among Texas counties ( still over 40,000 barrels of oil day... I wrote this article and engaged legal representation 4,800 per net acre a unique hybrid of a private equity,... A higher value, ranging from $ 7,000 to $ 12,000 per acre the of. Types of unconventional plays found in the recent 10-K, Torchlight acquired the Orogrande Basin.. Does orogrande basin value per acre rank in the Pennsylvanian formation if it can not sell the Orogrande is... Highly confident of Torchlight being able to survive the fallout internal data records about $ 22 million of land and.

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