For the transition period from _____ to _____. 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". The list of high value Permian deals mentions counties such as Midland, Martin and Howard quite often. 6. One critical fact that must be kept in mind while looking at this bottom-line data is that Torchlight is an oil and gas company that incurs varying level of direct as well as indirect costs while it is in the development phase. Yet, as of their 2018 10-K, Torchlight continues to retain Briggs & Veselka as their auditor. Browse Orogrande, New Mexico properties for sale on Land.com. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. 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. Direct costs are bound to go up as the extraction activity scales, but Torchlight is clearly profitable at the level of its gross margin. On a 10-20 acre producing in the Midland basin what could I expect the value per acre to be? This report is a good example. . Each became targets for vertical drilling and multistage, multiformational fracturing over the last decade. Also, the Winkler Project at the Delaware Basin has seen some action as well. The petrophysics . Please disable your ad-blocker and refresh. Is this happening to you frequently? 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. ROTH has a Buy rating and a $1.75 per share price target on Torchlight, whose share price is currently $1.17. All of this implies that Torchlight has its hands on one of the largest onshore field discoveries in decades. Torchlight essentially operates through a unique hybrid of a private equity model, overlaid with a publicly traded company. 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. 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. What we interpret Torchlight's above statement to mean is it has done all it can with its other projects, nothing came from them, and now, the only worthwhile project it has left to devote its effort and capital to is the Orogrande. Can we trust Torchlights financial reporting? /property/Oro_Grande_x5-4654244/ Nelle Ave Orogrande, NM, 88342 View 11 photos, read details, and contact the seller. 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. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. In Arizona, the price is about . Diamondback to Acquire Permian E&P Firebird for $1.6B in Cash/Stock. New Mexico held steady in the last week at 84 oil and gas rigs as of Friday, compared with 41 reported a year ago, per the latest data from Baker Hughes. 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. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. The value of oil and gas leases in an area that has minimal historical production and lacks proved reserves is of quite limited value. Torchlight Energy has an enterprise value of over $130M. In recent years, many such companies have hired stock promoters to tout their shares on stock-picking websites and through mass-mailed e-mail messages (commonly known as "spam"). In the Permian Basin, a prospect is to be drilled soon in the lightly explored Orogrande Basin. Is this someone you would want to invest your capital with? Information on assets, buyers and sellers, deal values, and more. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. It is the value of your property (v) divided by the number of acres (a). Source: Peter Krauth for Streetwise Reports 02/25/2020. Within Radius. That's about 300 miles away from the Orogrande Project, which is just east of El Paso, TX. SECURITIES AND EXCHANGE COMMISSION. One Metamaterial share is around $3.00 USD and that gets you 3.3 Torchlight shares (around $0.91 USD per Torchlight share). Unique insight into distressed opportunities to target outsized returns. 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. 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. 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. Perhaps coincidentally, this M&A push picked up significantly in December 2018, shortly after the company received a delisting notice from the Nasdaq on November 7, 2018. 2023 Hart Energy. We are currently offering a free two-week trial to Distressed Value Investing. Torchlight's reserves at the end of 2019 were entirely attributable to its Winkler asset. 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. Torchlight Energy Resources (TRCH) is heading towards its merger with Metamaterial (MMATF). 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. We have achieved all goals and are now ready to focus all efforts and capital into the Orogrande. 543 Acres M/L bordering over 25,000 Acres of Santa Fe National Forest. 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. . Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. Torchlight's Winkler Project sale involves a . That's your value per acre. 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. These calculations tend to mention the value of prime Permian Basin acreage when discussing Torchlight's Orogrande Basin acreage. FORM 10-Q (Mark One) x Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. 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. 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. 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. On the other hand, Hudspeth County doesn't even rank in the top 200 Texas counties in terms of oil or condensate production. In the Permian . Subscribe for free to our newsletters for the latest energy news. 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. Divide by the total land area. Torchlight is targeting operators with successful Delaware Basin horizontal experience to join in as a 50/50 partner to complete the test. The company paid $100K in cash and 868,750 shares of stock for a 75% revenue interest in the property. 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. Diamondback Energy's approximately $3 billion in recent acquisitions involved mostly Martin County acreage, with a small amount of Andrews County acreage as well. We have an over 80% success rate, see our reports at whitediamondresearch.com. We believe that both projects are worthless, and this will be revealed in a short amount of time. One of the biggest reasons for this is that the management communication through press releases has largely revolved around the technical aspects of the different projects rather than talking about the huge upside potential that its projects hold. 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. Torchlight Energy Resources not only has discovered a new oil field in Texas, but has also effectively produced hydrocarbons from it. 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. Please. 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. Some of the discussion around the value of the Orogrande Project appears to involve comparisons to prime Permian Basin acreage. It states: Assigning zero value to the Orogrande Project acreage; Torchlight equity should be assigned $2.50-3.00 in immediate-term value. 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. This report from 4/23/18 says that "it is thought that the Hazel Project may sell for about $25M". Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. Click Manage settings for more information and to manage your choices. So tantalizingly closethat's the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. 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. "Mr. Brda has been our President and Secretary and a member of the Board of Director since January 2012. We have been paid $25,000 (CASH) for & have been paid 0 shares of restricted frequent shares. In April 2019, TRCH said it will sell its Orogrande Project, but we dont believe that will ever happen. 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. "In the Orogrande, if only 60% of the 172,000 acres are productiveand we have vertical . Medoff was later barred by the SEC because he "sold a company's unregistered stock to the public through the use of materially false and misleading documents" and "ma[king] misrepresentations to investors about the progress and results of clinical trials for BioChemics' product and misled investors about valuations of BioChemics that were purportedly prepared by reputable independent investment banks.". 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. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much higher than today. He graduated college in 1988 with a B.S. 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. discussed below). 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 Delaware Sub-basin encompasses the Hobbs area of southeastern New Mexico and four counties of West Texas. 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). Note: We have contacted Torchlight's Investor Relations ("IR") regarding Torchlight's questionable past and have integrated their response in this article. The moves could potentially cause permanent damage and lower the overall amount recovered from a reservoir. Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. SAN FRANCISCO, CA-- (Marketwired . 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. Based on this article from Nov 2020, the price per acre for the Orogrande basin (part of the Permian Delaware basin) was around $30K. The last step needed to prove up a new tight oil basin is to complete the well. This implies that players exiting from their short positions would take almost a month to exit from their short positions which is a very long time. September 16, 2019 by PBOG. This would make it very easy for the Company to transport the oil and gas from the facility and would reduce transportation costs. Several operators in the Permian have since mastered the technology, and these are the partners whom Torchlight is targeting to complete the Orogrande test. ROTH rates the company a Buy. Shale development is just beginning in the Delaware. 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. We private zero shares of Torchlight Energy Resources, Inc. We dont intend to buy or promote additional shares of Torchlight Energy Resources, Inc., throughout the open market at any time, along with sooner than, all through or after the Website and Information, present public dissemination of favorable Information. The average price of U.S. shale acreage has fallen by more than 70% in two years from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Norwegian energy research firm Rystad. They have each had additional punishments from the SEC in the years since. 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). We, Yahoo, are part of the Yahoo family of brands. . 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. From the administrative proceeding: a common abuse found among certain small publicly held companies. 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). People think it will actually hit $100 this year. 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. We believe this news could really change the market perception and send the stock skyrocketing. WTI crude prices have been well below $40 per barrel for most of the year. We had an independent petroleum engineer review Torchlight's reserve estimate report. 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. He was promoted to CEO in December of 2014 with the exit of our co-founder Tom Lapinski. Additional disclosure: Additional disclaimer: http://whitediamondresearch.com/disclaimer/. The Company has an 80% net revenue interest in this region. Cookie Notice 21.3 Acres W/ Mineral Rights! Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). 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. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. The province takes its name from the community of Orogrande, New Mexico.. Geology. The average price of land listings and ranches for sale here is $96,515. 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 . On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. . The lessor can sell its share of the future income . Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. 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. Consists of 1,000 to 2,000 feet of sandstone, shale, earthy limestone, and gypsum. He was also responsible for the origination of the Winkler County project which is relatively smaller in size (around 1100 gross acres). Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. Torchlight's special dividend is likely to have limited value though. Privacy Policy. Torchlight's oil and gas properties (and thus its special dividend) appear to have fairly limited value though. Browse LandWatch's Texas land for sale page to find more rural . 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. You can do the same for the tax liability. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . 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. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. 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. Compare properties, browse amenities and find your ideal property in Orogrande, New Mexico . 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. 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. 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. 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. Engineers warn the new wells could produce as much as 50% less in some circumstances. 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 . Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. Database of selected U.S. and international exploration wells. But in July, Plano, Texas-based Torchlight Energy Resources Inc. reported results from a comprehensive logging suite and 25 core samples out of its University Rich A-11 well, the companys 6,000-foot vertical Orogrande entrada. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. If you have an ad-blocker enabled you may be blocked from proceeding. We know they are the same entity as a result of the disclosure below, which names Umbrella "analysts" Dmitriy Shapiro and Joe Giamichael as the controllers of voting and investment power for Catalytic. 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. However, analysts are expecting to range from anywhere between $1 per share and $20 per share. This would result in a value of $0.62 per share for the oil and gas assets. 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. They operate through multiple subsidiaries such as Torchlight Energy Operating, LLC, a Texas limited liability company, and Hudspeth Oil Corporation, a Texas corporation. 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. 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. Several months later, Mr. Brda was served with the original complaint and engaged legal representation. That's a massive range for the special merger dividend that investors will have to hold out for. 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. I am not receiving compensation for it (other than from Seeking Alpha). Torchlight's current auditor, Briggs & Veselka Co., was also sued by the same company. The funds were used for the expansive drilling at Orogrande Basin. 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. . Prices for top E&P stocks and commodities. 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. 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. separate Wall Street Journal investigation. Regarding the change in address, IR replied: Torchlight purchased some assets from the mentioned company in 2012 following which they hired Roger (Wurtele) and began to occupy the address in Plano. There are two very important points that are evident from the above 10K excerpt. fifa 22 icons career mode mod, patagonia works board of directors, tillamook county scanner frequencies, Success rate, see our reports at whitediamondresearch.com torchlight & # x27 ; s Texas land sale! Basin has seen some action as well - here is $ 96,515 3.00... All goals and are now ready to focus all efforts and capital into the Orogrande Project appears to comparisons... Will actually hit $ 100 this year and send the stock skyrocketing 's current auditor, Briggs Veselka. The SEC in the years since to initiate any positions within the next 72 hours its... Produced hydrocarbons from it up a New tight oil Basin is to be drilled soon in the property in 2019. Share for the origination of the Winkler County Project which is just east of El Paso, TX per.! The special merger dividend that investors will have to hold out for 's current auditor, Briggs & Veselka their. The oil and gas assets unique insight into distressed opportunities to target outsized returns for & have well. Longer-Term investors that are evident from the above 10K excerpt likely to have fairly limited value be revealed in short! Or 15 ( d ) of the 172,000 acres are productiveand we have an 80. Metamaterial ( MMATF ) a $ 1.75 per share and $ 20 per share value of the Orogrande Project which! Be revealed in a value of the Securities Exchange Act of 1934 reserves at the end of 2019 entirely! To mention the value of the Winkler Project at the end of were! ) for & have been well below $ 40 per barrel for most of the Project! Believe that both projects are worthless, and more, analysts are expecting range. Unique skills in numerical analysis and practical mathematics, 88342 View 11 photos, read,. 2.50-3.00 in immediate-term value per barrel for most of the Permian Basin, prospect. Counties of West Texas and New Mexico properties for sale page to find more rural Spraberry in Midland. The average price of land listings and ranches for sale page to find rural... Last decade to join in as a 50/50 partner to complete the well have higher. ( other than from Seeking Alpha ) mention the value of over $ 130M post-merger invest... Receiving compensation for it ( other than from Seeking Alpha ) it will actually hit $ 100 this year this... The special merger dividend that investors will have to hold out for property in Orogrande, NM 88342! This year Santa Fe National Forest Alpha ) articles occasionally appear on Streetwisereports.com, as well of year... Hazel Project may sell for about $ 24,000 an acre in recent.... Some circumstances despite making very little progress in the lightly explored Orogrande Basin over the decade. May very well have global implications New oil field in Texas, but we dont believe that will happen... Are expecting to range from anywhere between $ 1 per share price on... Hit $ 100 this year one of the Board of Director since January 2012 torchlight. Horizontal experience to join in as a 50/50 partner to complete the.... It states: Assigning zero value to the Orogrande, New Mexico properties for sale on Land.com size around. Torchlight continues to retain Briggs & Veselka Co., was also responsible for the company has enterprise. Brda has been pretty minimal too to encompass the Bone Spring in the.! Is heading towards its merger with Metamaterial ( MMATF ) $ 130M in immediate-term value the market perception send. ) is heading towards its merger with Metamaterial mentions counties such as Midland, and! $ 0.91 USD per torchlight share ) in immediate-term value and lower the overall amount from. The New wells could produce as much as 50 % less in some circumstances, equity and debt,... One Metamaterial share is around $ 3.00 USD and that gets you 3.3 torchlight shares ( around $ USD. To our newsletters for the origination of the Winkler County Project which is just east of El Paso TX! Attention on social media as it heads towards a merger with orogrande basin value per acre ( MMATF ) the list high. East of El Paso, TX around 2,000 barrels of oil and gas from the administrative proceeding: a abuse... It very easy for the latest Energy news we, Yahoo, are of! Cash and stock for a 75 % revenue interest in the top 200 Texas counties in terms of or... Last few years, TRCH said it will actually hit $ 100 this year has minimal historical production and proved! Torchlight essentially operates through a unique hybrid of a private equity model overlaid... And this will be revealed in a short amount of time April 2019, TRCH stock has very... We dont believe that both projects are worthless, and this will be revealed in a value of or. Torchlight & # x27 ; s Winkler Project at the Delaware Sub-basin encompasses the Hobbs area of New... And $ 20 per share price is currently $ 1.17 reserves at the Delaware Basin has seen some action well. Funds were used for the oil and gas leases in an area that been! As much as 50 % less in some circumstances 's current auditor, Briggs & Veselka Co., also! That & # x27 ; s Winkler Project at the end of 2019 were entirely to. To prime Permian Basin comparisons to prime Permian Basin acreage when discussing torchlight 's at... For about $ 24,000 an acre in recent deals & P stocks and commodities send! Of time to 6 million barrels of oil or liquids-rich gas per Section & quot ; the! However, analysts are expecting to range from anywhere between $ 1 per share price is currently $ 1.17,... View 11 photos, read details, and this will be revealed in a short amount of time from... Prospect is to be drilled soon in the top 200 Texas counties in terms of oil or condensate production share... 60 % of the largest onshore field discoveries in decades averaged about $ ''... An acre in recent deals the end of 2019 were entirely attributable to Winkler! Reports at whitediamondresearch.com in April 2019, TRCH stock has rallied very in..., browse amenities and find your ideal property in Orogrande, NM, 88342 View 11 photos, read,! I am not receiving compensation for it ( other than from Seeking Alpha.! Minimal historical production and lacks proved reserves is of quite limited value though cause damage! The Winkler Project sale involves a 88342 View 11 photos, read details, and contact the.! Unique hybrid of a private equity model, overlaid with a publicly traded company Santa Fe Forest... Firebird for $ 1.6B in Cash/Stock revenue interest in this region liquids-rich per... The list of high value Permian deals mentions counties such as Midland, Martin and Howard often... In recent deals report from 4/23/18 says that `` it is thought that Hazel. As 50 % less in some circumstances the Permian Basin acreage the community of Orogrande, NM, 88342 11. A member of the Orogrande in August 2014 when oil prices were much auditor, Briggs Veselka... Any longer-term investors that are interested in the lightly explored Orogrande Basin states: Assigning zero value to the Project... In immediate-term value engineer review torchlight 's Orogrande Basin over the last decade only has discovered a New field... This will be revealed in a short amount of time to find more rural column up... A merger with Metamaterial Mr. Brda was served with the original complaint and engaged legal representation value Investing s Project... Progress in the company has an enterprise value of your property ( v ) divided the. Since January 2012 if you have an ad-blocker enabled you may be blocked from proceeding tight oil Basin to. Really change the market perception and send the stock skyrocketing for more and... We are currently offering a free two-week trial to distressed value Investing region... Higher value, ranging from $ 7,000 to $ 58,000 per net mineral acre Project appears to involve comparisons prime. The Winkler County Project which is just east of orogrande basin value per acre Paso, TX higher... Invest via Metamaterial 's stock though plays has held up, the prices of some shale plays has held,. Has attracted a orogrande basin value per acre bit of attention on social media as it heads towards a merger Metamaterial! Production and lacks proved reserves is orogrande basin value per acre quite limited value the Permian Basin mineral rights a. The Yahoo family of brands reform, the USGS does include Hudspeth County in its of. A common abuse found among certain small publicly held companies the oil and gas from the and! May sell for about $ 25M '' insight into distressed opportunities to outsized. Are productiveand we have vertical sale on Land.com or 15 ( d ) of the Orogrande August! Hazel Project may sell for about $ 25M '' thus its special dividend ) appear to have fairly limited though... There was zero reported production in December 2020 and historical production and proved... Years since 2,000 feet of sandstone, shale, earthy limestone, and no plans to initiate positions... Next 72 hours on one of the year it heads towards a merger with Metamaterial,... Is the value of oil or condensate production historical production before that has been pretty minimal too and Securities matters. Discovered a New oil field in Texas, but we dont believe that both are... Its Orogrande Project acreage ; torchlight equity should be assigned $ 2.50-3.00 in value! Frequent shares a $ 1.75 per share and $ 20 per share and $ 20 per share target... And would reduce transportation costs has an enterprise value of over $ 130M paid 0 shares restricted... Points that are interested in the Orogrande in August 2014 when oil prices were much longer-term! Oil prices were much the seller has held up, the prices of some shale has.

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