Orion Diversified Holding Co, Inc. Announces an Acquisition & Milestones Reached
Orion Diversified Holding Co (OTC PINK:OODH) announced the closing of an acquisition involving non-operated working interests in two wells in the Anadarko Basin, Oklahoma, with production averaging 73 mcfpd. The company also secured a producing oil and gas property in the Sprayberry field of the Permian Basin. Since September 2021, Orion has expanded its portfolio by acquiring 2,546 gross acres and achieved revenues of $60,170 in Q1 2022. All acquisitions were made without incurring bank debt or issuing new shares.
- Acquired non-operated working interests in two Anadarko Basin wells, enhancing production capacity.
- Expanded acreage by 2,546 gross acres since September 2021.
- Reported $60,170 in revenues for Q1 2022, indicating potential for growth.
- Acquisitions made without taking on bank debt or issuing new shares.
- None.
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CARSON CITY, NV / ACCESSWIRE / April 7, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today that it has closed on an acquisition of a non-operated working interest in the Anadarko Basin of Oklahoma. The property consists of a
ACREAGE & REVENUE MILESTONES
- New management has added 2,546 gross acres since taking over ORION in September 2021.
$60,170 in revenues reached in the 1st Qtr. of 2022.- Acreage with oil and gas production in the Bakken Shale, Permian Basin, Anadarko Basin, and Eagle Ford Shale.
MANAGEMENT COMMENTS
"We have begun operations on our recently acquired 6 well 320-acre property located in the Permian Basin of Ward County Texas." commented Tom Lull, CEO of Orion. "We have also begun working with engineers and stimulation contractors to perforate untapped zones in the 3 producing wells located on our 1680-acre property in the Eagle Ford Shale. All of these great assets have been acquired without taking on bank debt or the issuance of new shares."
ABOUT ORION DIVERSIFIED HOLDING CO INC.
Orion Diversified Holding Co Inc. is a company with a primary strategy of investing in operated majority working interest, non-operated working interest, and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Orion Diversified Holding Co Inc. can be found at www.orionenergyco.com.
SAFE HARBOR STATEMENT
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.
CONTACT:
Orion Diversified Holding Co Inc.
Thomas Lull, President
tom@orionenergyco.com
Phone: 760-889-3435
SOURCE: Orion Diversified Holding Co Inc.
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