Orion Reaches Acreage Milestones at 27,881 Royalty Acres
Orion Diversified Holding Co (OTC PINK:OODH) has successfully completed the acquisition of a 1.875% royalty interest in a 160-acre property located in the Anadarko Basin, Noble County, Oklahoma.
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Rhea-AI Summary
Orion Diversified Holding Co (OTC PINK:OODH) has successfully completed the acquisition of a 1.875% royalty interest in a 160-acre property located in the Anadarko Basin, Noble County, Oklahoma. This acquisition adds to Orion's extensive portfolio, which includes over 27,881 acres across various prominent U.S. shale regions. The company reports multiple income streams from its 3 operated wells in the Eagle Ford Shale and 13 non-operated wells in other states. CEO Tom Lull emphasized the growth potential in this proven oil and gas field.
Positive
- Acquired a 1.875% royalty interest in 160 acres in the Anadarko Basin.
- Total mineral interests now exceed 27,881 acres across major U.S. shale regions.
- Generating revenues from 3 operated wells and 13 non-operated wells.
- Initial income from over 16,000 acres in the Sprayberry & Wolf Camp fields.
Negative
- None.
Details
News Market Reaction – OODH
The recorded move for OODH in the trading session of this news was +5.26%.
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CARSON CITY, NV / ACCESSWIRE / August 12, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today that it has closed on an acquisition of a royalty interest in the Anadarko Basin of Noble County Oklahoma. The property consists of a
ACREAGE & REVENUE HIGHLIGHTS
Orion owns mineral interest in more than 27,881 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, Eagle Ford Shale, & Anadarko Basin.
Multiple income streams are coming in from Orion's 3 operated wells in the Eagle Ford Shale, and 13 non-operated wells in Oklahoma, North Dakota, & New Mexico. Orion is also starting to receive income from its royalties in 16,000+ acres in the Sprayberry & Wolf Camp fields of the Permian Basin.
MANAGEMENT COMMENTS
"We are growing rapidly with new acquisitions and our operated and non-operated properties are generating significant revenues." commented Tom Lull, CEO of Orion. " This recent acreage acquisition in Oklahoma puts us in a proven oil and gas field that has a lot of upside for new horizontal well development."
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.
View source version on accesswire.com:
https://www.accesswire.com/711859/Orion-Reaches-Acreage-Milestones-at-27881-Royalty-Acres
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