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Verde Bio Holdings, Inc. (OTC: VBHI) has acquired revenue-producing overriding royalty interests (ORRI) in Adams County, Colorado, for $150,000. This acquisition allows the company to receive cash flow from production starting March 1, 2021. The ORRI covers 1,280 acres with seven active wells and potential for additional drilling. The company expects combined revenue of over $200,000 annually from its acquisitions, benefiting from rising oil and gas prices. Verde has completed six mineral and royalty deals, enhancing its diversified portfolio across 15 counties in seven states.
Verde Bio Holdings (OTC: VBHI) has acquired revenue-producing mineral and royalty interests in Weld County, Colorado for $152,000. The acquisition includes interests in eight oil-producing wells that generate approximately $3,000 monthly, with expectations for increased revenue as oil prices rise. This marks Verde's second acquisition in the Denver Julesberg Basin. CEO Scott Cox expressed confidence in the asset's potential and the company's strategy to build a diversified revenue portfolio through strategic acquisitions.
Verde Bio Holdings, Inc. (OTC: VBHI) has completed the acquisition of revenue-producing overriding royalty interests in the DJ Basin, Colorado, for $150,000. This acquisition is expected to generate approximately $3,000 monthly in revenue, effective March 1, 2021. The acquired interests cover about 1,280 net surface acres and relate to seven existing wells, with future development potential. This marks Verde's first venture in the DJ Basin, aligning with its strategy to build a diversified portfolio of mineral and royalty assets in the oil and gas sector.
Verde Bio Holdings, Inc. (OTC: VBHI) updates on its strategic initiatives, including a Reg A+ offering to fund acquisitions of oil and gas mineral rights. The company has secured two portfolios and is working on two additional acquisitions, enhancing its revenue-generating assets in prolific areas like the Permian Basin and Haynesville Shale. CEO Scott Cox anticipates raising $3-$5 million for ongoing deals in 2021, aiming for a steady revenue stream from these assets.
Verde Bio Holdings, Inc. (OTC: VBHI) announced the acquisition of revenue-producing mineral and royalty interests for $150,000, enhancing its portfolio with properties in the Haynesville Shale and Marcellus Shale. The deal, scheduled to close by March 5, 2021, includes interests that are expected to generate approximately $2,200 per month from six wells in Haynesville and $1,500 per month from three wells in Marcellus. CEO Scott Cox emphasized the strategic importance of this acquisition in diversifying and strengthening the company’s revenue stream.