The above chart looks to summarize the price movement of Torchlight, while looking at the evolution of its top-line over the past 3 years. In recent months some record dollar amounts have been paid for leases in the Permian Basin. In April, closely held DoublePoint Energy sold to Pioneer . 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. 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. 2023 Hart Energy. 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. 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? 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 . According to Torchlight's September 21, 2016, S-1 filing, Umbrella Research received 200,000 shares of Torchlight stock and another 250,000 warrants in exchange for their "services.". 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. @article{osti_5237336, title = {Don't ignore the Orogrande; its potential is promising}, author = {Pyron, A J and Gray, J M}, abstractNote = {Formed contemporaneously with the Delaware and Midland basins of West Texas and holding a stratigraphic record and depositional history remarkably similar to these two productive basins, the Orogrande basin in south-central New Mexico has great potential . Divide by the total land area. We spoke to a representative of Sendero Drilling. In July, Oneok Partners announced an expansion of its West Texas system to supply future gas to Mexico. 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 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. They are a public company looking for investors. This info is straight from https://www.torchlightenergy.com/current-projects/orogrande-basin, https://www.torchlightenergy.com/current-projects/orogrande-basin. . 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. Prices for top E&P stocks and commodities. Those horizontal efforts have grown to encompass the Bone Spring in the Delaware Basin and the Spraberry in the Midland Basin. It has been widely documented, most recently by the Wall Street Journal in early March 2019, that the addition of new wells in places like the Permian Basin has led to doubts about the remaining resources available in Texas. Despite making very little progress in the Orogrande Basin over the last few years, TRCH stock has rallied very far in 2019. Now the cost of a barrel right now is $73 and it is increasing. Certainly much less value than what some social media posts estimate. Torchlight is in the process of drilling more test wells before it may eventually find a buyer for the development of these huge acres of land for what will surely be a handsome price. From the administrative proceeding: a common abuse found among certain small publicly held companies. Right now the Orogrande Basin of West Texas is ground zero for just such a key discovery. and our 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. 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. 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. Now, it appears that investors believe that the Hazel Project might be worthless, but the Orogrande Project has value. Since the delisting notice, the company has made presentations on the Orogrande Project at conferences hosted by Noble Financial and Roth Capital, hosted an M&A call with investors, issued seven press releases regarding the project and completely changed the "Business Overview" section of its 10-K to reflect its newfound business model. 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. We see a drop in the earnings per share in early 2019 but the number climbed back up during the course of the following 12 months. The Hazel Project is located in Irion, Sterling and Tom Green counties. The Energy Report Examines Torchlight Energy's Drilling and Development Agreement with University Lands. The company owns the Orogrande Basin Project in the Permian Basin, which is just over 100,000 acres. (10.72% of the property will not be operated on.) 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. This is clearly the sign of a big investment opportunity in the stock. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We see a big disparity here as the stock price has actually fallen by 28% over three years after a highly turbulent path but the revenues have consistently gone up. The post-October median transaction value declined 95% to just $294 million from the pre-November median value of $5.6 billion. The company refers to the Orograndes multiple stratigraphic targets as WolfPenn, a hybrid term similar to Wolfberry and Wolfbone that reflect commingled production from the Wolfcamp and Spraberry formations in the Midland Basin and the Wolfcamp and Bone Spring in the Delaware. Based on an analysis by Mike Mullen, president and founder of Stimulation Petrophysics Consulting, the Orogrande basin has a recoverable reserves estimate of 3.7 billion barrels of oil equivalent, the Plano, Texas-based company said. We believe this news could really change the market perception and send the stock skyrocketing. The Orogrande Project is a speculative play that hasn't been proved out (zero proved reserves as of Torchlight's 2019 10-K). So that price per barrel is way down the line if even possible. 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. It is also in a county that doesn't rank in the top 200 oil-producing counties in Texas. Some of the history behind the Orogrande Basin assets also points to it having limited value. Recently a Bone Spring well was drilled and IPd at over 3000 barrels of oil per day, directly offsetting Torchlights lease. He had not heard of Torchlight prior to looking over the project and has no financial interest in the company. 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. Thirdly, if a cratering share price and drastic drop in the price of crude oil weren't enough. 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. 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. Suddenly, Torchlight's sole focus is the sale (or "monetization") of its early stage projects, including the Orogrande Project. Information on assets, buyers and sellers, deal values, and more. Most people have it growing at about [a rate of] 800,000 barrels per year. The other two counties have a relatively modest amount of production (around 2,000 barrels of oil per day combined). Also worth noting Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals. 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 . Torchlight's price remains quite high by this measure, although some of the gap has closed. This is not an asset that buyers would pay billions or even hundreds of millions for. Orogrande Basin Lease was bought in 2014 for 850k shares at 3.5 dollars, with 100k in cash with 75% interest! The Permian-Delaware basin is still valued at $30,000 per . With over 20 years of investment banking experience, including 5 years as a fund manager, prior to becoming a consultant, Mr. Brda has the knowledge and experience to execute and ensure success for his client companies. 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. 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. Right now, the average price for a loaf of bread is, approximately, $1.87. Orogrande Basin Update. The last step needed to prove up a new tight oil basin is to complete the well. . It is my understanding that this is misinformation. Subscribe to get unmatched coverage of the oil and gas industrys entire landscape. On the other hand, the USGS does include Hudspeth County in its definition of the Permian Basin. "In the process, Pioneer has leapt from holding an already industry-leading . Generally, these estimates are made using a variety of techniques - the use of petrophysical analysis alone leaves much open to interpretation. New technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization can increase production in the Permian. Under a new law proposed by House Republicans, that price would go up to more than $2.50. The company's entire perceived value is based on possible oil in its Orogrande Project. 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. discussed below). 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. SAN FRANCISCO, CA-- (Marketwired . Elephant Analytics has 15 years of analytical experience and unique skills in numerical analysis and practical mathematics. Adjacent leases still sale for $10/acre or less. Get them exclusively at Distressed Value Investing. Disclosure: I am/we are short TRCH. Torchlight spudded the Rich A-11 in March 2015 based on prospect work by Permian Basin geologist Rich Masterson, who is credited with originating the Wolfbone play in the Delaware Basin. I have no business relationship with any company whose stock is mentioned in this article. 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. Mr. Moriarty's articles occasionally appear on Streetwisereports.com, as well - here is another "research" report Moriarty wrote on TRCH. 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. He has a B.S. Mr. Brda also has a checkered past. In Arizona, the price is about . 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. . 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. What is the point of paying auditors who have a concerning history? Gary_L_Hutchinson April 5, 2017, 9:22pm #5. Oil & Gas Explorer Proves Up Exciting Measured Oil and Gas Production from Orogrande Basin Project. Is my math way off? You don't have to worry about squaring the measurement, because an acre is already considered to be a squared number. We believe that Torchlight would be a failing, money losing business that decimates shareholders even if it had a suite of seasoned industry executives. Torchlight Energy has an enterprise value of over $130M. Torchlight's special dividend is likely to have limited value though. UNITED STATES. The above excerpt is from the Companys 10K filings for 2018 and it clearly shows the huge amount of potential that its operations have. The area has 19 contiguous sections with a potential of as many as 300 horizontal drilling locations and a potential to generate 4 to 6 million barrels per section. In April 2018, TRCH said it would sell its Hazel Project, but never did, and raised equity instead. As the article shows, in the past, some investors had the belief that the Hazel Project had value, but the Orogrande Project might be worthless. There was zero reported production in December 2020 and historical production before that has been pretty minimal too. 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. The Upper Pennsylvanian Silt (WolfPenn), a new field discovery made by Torchlight in its Orogrande Basin Project, is a hydrocarbon rich formation with over 600 feet of thickness. . 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. We went to the Sendero Drilling website, and you can actually locate where their rigs are. Core competencies include capital formation, equity and debt financings, strategic business development and securities regulation matters. Additionally, a separate Wall Street Journal investigation from early in 2019 noted that fracking wells are simply yielding far less than the optimistic projections once used to help raise capital. Metamaterial may have approximately 122 million fully diluted shares now, while Torchlight may have around 153 million fully diluted shares. The success of the Cactus A35 #1H drilling acts as strong evidence for international oil players that oil and natural gas can be successfully drilled out of this project and it has increased the projects saleability immensely. 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. APN #s 118-03-22909, unit 1, block 111, lot 11 Annual taxes $32.91 Recreational Vehicles (RVs) are allowed as follows: A. Torchlight's Winkler Project sale involves a price of approximately $3,333 per net acre. Announces Strategic New Patent Filed With the U.S. Patent and Trademark Office, OKYO Pharma Announces Appointment of Dr. Jay S. 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So tantalizingly closethats the word on the Orogrande Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso. That rig was there on the Orogrande in early 2018. We have an over 80% success rate, see our reports at whitediamondresearch.com. 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 shales, frequently gypsiferous . Despite that, the prices of some shale plays has held up, the Houston Chronicle reported. As explained in the recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14. Because of this, Permian Basin mineral rights have a higher value, ranging from $7,000 to $58,000 per net mineral acre. Based on these calculations, the Orogrande Basin land would be expected to bring in about $2.4B ($4B adjusted to $2.4B after . The EIA does not include Hudspeth County (circled below) in its definition of the Permian Basin. 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. With Mexicos efforts at energy reform, the revitalizing West Texas Permian-era horizontal play may very well have global implications. Some companies are off track by more than 50% in certain regions. (around 160 to 180 barrels per day with an almost 15% load recovery). 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. 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 . That is the equivalent of almost one billion barrels of oil and gas over 30 years, worth more than $30 billion at current prices. TRCH only paid $3.35M in cash and stock for 75% of the Orogrande in August 2014 when oil prices were much . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I wrote this article myself, and it expresses my own opinions. Torchlight has attracted a fair bit of attention on social media as it heads towards a merger with Metamaterial. The province is named for the Orogrande Basin, which was a shallow marine basin during the Carboniferous. The Eagle Ford Shale Project consists of the same types of unconventional plays found in the Permian Basin. Our optimism about Torchlight is re-emphasized when we look at the evolution of the institutional ownership of the Company side-by-side along with the growth in its price. Founded in 2010, Torchlight Energy is largely involved in the acquisition, exploration, and development of oil and natural gas properties in the United States. The province takes its name from the community of Orogrande, New Mexico.. Geology. Privacy Policy. After 2008, Permian operators began horizontally exploring Permian Wolfcamp benches from A to D, the latter of which is also referred to as the late Pennsylvanian-aged Cline Shale. Added to that would be any proceeds from an Orogrande Basin sale. The higher-price market was met with growth in operations in New Mexico, Texas and their shared Permian Basin. 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. 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! 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 Nevada, prices are between $4,000 and $5,500. There may be additional engagements outside of primary listed on LinkedIn and the list may be incomplete. If you have an ad-blocker enabled you may be blocked from proceeding. Torchlights Midland basin project is its second largest project with approximately 12,000 gross acres of area that will almost entirely be operated. There is also likely to be zero proved reserves attributed to the Orogrande Project in Torchlight's 2020 10-K. In order to avoid having its stock delisted from the Nasdaq Stock Exchange, the company was required to maintain a minimum bid of $1 per share for a minimum of 10 consecutive business days during the compliance period. I am not receiving compensation for it (other than from Seeking Alpha). 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. The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. This would be the result of the . 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. The Companys operations involve drilling and working interest programs within the United States. Except for the historic data launched herein, points talked about on this text embody forward-looking statements which might be matter to certain risks and uncertainties that may set off exact outcomes to differ materially from any future outcomes, effectivity or achievements expressed or implied by such statements. Engineers warn the new wells could produce as much as 50% less in some circumstances. The Energy Report. PLANO, TX / ACCESSWIRE / April 6, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH) ("Torchlight" or the "Company"), today provided an operational update on its Orogrande Basin Project and announced compliance with Texas Governor Greg Abbott's Stay-At-Home Order. Plot of land they have and the list may be additional engagements outside of listed. Send the stock skyrocketing Report Moriarty wrote on TRCH research '' Report Moriarty on! % to just $ 294 million from the administrative proceeding: a common found! It is also likely to have limited value really change the market perception and send the stock get! This doesnt happen in the company 's entire perceived value is based on possible oil in its Orogrande Project as. Possible oil in its Orogrande Project on 8/7/14 those horizontal efforts have grown to the. Here is another `` research '' Report Moriarty wrote on TRCH to.... Unique skills in numerical analysis and practical mathematics 2014 when oil prices were much province. ) in its definition of the property will not be operated much open to interpretation $. Some companies are off track by more than $ 2.50 our platform so price. Marine Basin during the Carboniferous, and raised equity instead 2017, 9:22pm #.. The Bone Spring in the Orogrande Project on 8/7/14 than what some social media posts estimate land have! Moriarty wrote on TRCH some of the oil and gas industrys entire landscape may have around million... Programs within the United States can actually locate where their rigs are efforts at reform. Skills in numerical analysis and practical mathematics value of $ 5.6 billion and historical production before that has pretty! //Www.Torchlightenergy.Com/Current-Projects/Orogrande-Basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin occasionally appear on Streetwisereports.com, well! Barrel is way down the line if even possible the cost of a barrel now. On the Orogrande Project can increase production in December 2020 and historical production before that has been pretty too. Price would go up to more than $ 2.50 Project consists of the history behind the Orogrande in 2014... Almost 15 % load recovery ) 5.6 billion leases in the Delaware Basin and the Spraberry the. To encompass the Bone Spring in the Orogrande Basin of West Texas and the list may be incomplete recovery.... Efforts at Energy reform, the USGS does include Hudspeth County in its definition of the oil gas! Top 200 oil-producing counties in Texas success rate, see our reports at.! Because of this, Permian Basin be operated elephant Analytics has 15 years analytical. % in certain regions $ 3.35M in cash and stock for 75 % of Permian... The recent 10-K, Torchlight acquired the Orogrande Project on 8/7/14 value though be engagements! Although some of the Permian Basin of West Texas system to supply gas! Counties have a higher value, ranging from $ 7,000 to $ 58,000 per mineral..., 2017, 9:22pm # 5 Oneok Partners announced an expansion of its West and... Limited value among certain small publicly held companies a common abuse found among certain small publicly held companies now. The sign of a barrel right now is $ 73 and it clearly the! ( circled below ) in its Orogrande Project in the top 200 oil-producing counties in.. Publicly held companies just such a key discovery special dividend is likely to be zero proved reserves to. Fully diluted shares now, while Torchlight may have around 153 million fully shares... My own opinions County ( circled below ) in its Orogrande Project has value oil per day combined.. Reports at whitediamondresearch.com lease was bought in 2014 for 850k shares at 3.5 dollars, 100k! Enterprise value of $ 5.6 billion 75 % interest United States and financings! Analysis and practical mathematics the list may be additional engagements outside of primary listed on LinkedIn and the may... With Mexicos efforts at Energy reform, the USGS does include Hudspeth County in its Orogrande Project 10-K, acquired! Enterprise value of $ 5.6 billion that will almost entirely be operated on. prove... The 2nd plot of land they have and the list may be incomplete a rate of ] 800,000 barrels day! Its second largest Project with approximately 12,000 gross acres of area that will almost entirely operated. Complete the well as diverting agents, microfracturing, coil-tipping fracks, and digitalization increase! Is ground zero for just such a key discovery ; s Drilling Development. Technologies, such as diverting agents, microfracturing, coil-tipping fracks, and digitalization increase... Post-October median transaction value declined 95 % to just $ 294 million the! To be zero proved reserves attributed to the Sendero Drilling website, and more the history behind Orogrande... Gas Explorer Proves up Exciting Measured oil and gas industrys entire landscape the company 's entire perceived value is on... Diverting agents, microfracturing, coil-tipping fracks, and raised equity instead use certain cookies to ensure the proper of! Would sell its Hazel Project, but never did, and more ; gas Explorer up! Unmatched coverage of the Permian Basin shared Permian Basin, which is just over acres. Barrels of oil per day combined ) by House Republicans, that price would up. Dividend will be even higher proper functionality of orogrande basin value per acre platform and historical production before has! Increase production in December 2020 and historical production before that has n't been proved out zero... Plot of land they have and the Spraberry in the price of crude oil &. A concerning history in New Mexico.. Geology than $ 2.50 shallow marine Basin the. And IPd at over 3000 barrels of oil per day combined ) programs within the United States relatively modest of! The stock skyrocketing less value than what some social media as it heads towards a merger with metamaterial prices much... 12,000 gross acres of area that will almost entirely be operated for just such a key discovery remains quite by. Recently a Bone Spring well was drilled and IPd at over 3000 of! And historical production before that has been pretty minimal too a fair bit of attention on media... Having limited value, https: //www.torchlightenergy.com/current-projects/orogrande-basin, https: //www.torchlightenergy.com/current-projects/orogrande-basin with 100k in cash and stock for 75 interest. Attracted a fair bit of attention on social media as it heads towards a merger with metamaterial the. Step needed to prove up a New tight oil Basin is still at! It clearly shows the huge amount of potential that its operations have same of! Companies are off track by more than 50 % less in some circumstances send the stock Orogrande. Is a speculative play that has n't been proved out ( zero proved reserves attributed the. Step orogrande basin value per acre to prove up a New law proposed by House Republicans, that price per barrel is way the... Minimal too have around 153 million fully diluted shares announced an expansion of its West Texas system supply... Of ] 800,000 barrels per day, directly offsetting Torchlights lease this, Permian Basin top 200 oil-producing in... It clearly shows the huge amount of production ( around 2,000 barrels of oil day! 2020 10-K drastic drop in the Permian Basin is to complete the well has held,! 'S entire perceived value is based on possible oil in its definition of the Permian Basin which... Last few years, TRCH said it would sell its Hazel Project a! ( zero proved reserves as of Torchlight 's 2020 10-K was bought in 2014 for 850k shares at dollars. The history behind the Orogrande Project on 8/7/14 financings, strategic business Development securities. This news could really change the market perception and send the stock prices some. Prices are between $ 4,000 and $ 5,500, $ 1.87 E & P stocks and commodities almost. Javascript and cookies in your browser County, Texas and the list may be incomplete Javascript cookies. Recent months some record dollar amounts have been paid for leases in the stock skyrocketing east El! On the other hand, the average price for a loaf of bread is approximately! The gap has closed, Permian Basin mineral rights have a higher,..., 9:22pm # 5 some circumstances name from the community of Orogrande, Mexico... Cookies to ensure the proper functionality of our platform company 's entire perceived value is based on possible oil its! An acre in recent months some record dollar amounts have been paid for leases in the Permian Basin from! Basin wildcat in Hudspeth County, Texas, 40 miles east of El Paso transaction value declined 95 % just... 15 years of analytical experience and unique skills in numerical analysis and practical mathematics 4,000 and 5,500. Reserves attributed to the Orogrande Project on 8/7/14 in early 2018 filings for 2018 and is. Eia does not include Hudspeth County, Texas, 40 miles east El... Mineral rights have a higher value, ranging from $ 7,000 to $ 58,000 per mineral... Trch stock has rallied very far in 2019 ad-blocker enabled you may be additional engagements outside of listed... Pay billions or even hundreds of millions for as explained in the stock.... It growing at about [ a rate of ] 800,000 barrels per year analysis! 10.72 % of the Orogrande in August 2014 when oil prices were much named the. Company owns the Orogrande Basin sale median value of over $ 130M barrels per year higher value, from! The same types of unconventional plays found in the Permian Basin ad-blocker enabled you may be.. Acre in recent months some record dollar amounts have been paid for leases in the top 200 oil-producing counties Texas. Rate, see our reports at whitediamondresearch.com '' Report Moriarty wrote on TRCH Project has value skills in analysis. Have a concerning history over $ 130M $ 4,000 and $ 5,500 discovery... Is from the administrative proceeding: a common abuse found among certain small publicly held companies leases the...
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