Texas-based ConocoPhillips bought Shell’s Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.
Correspondingly, How much is the Orogrande basin worth? Torchlight and Metamaterial’s current share prices suggest an implied value of $1,000 per net acre for the Orogrande Basin assets.
Who owns the most land in the Permian Basin? Occidental Petroleum is the largest land holder in the top U.S. shale field, followed by Chevron.
Furthermore, How much oil is left in the Permian?
The Permian Basin is one of the oldest and most well-known hydrocarbon-producing areas. Since the first well drilled in the basin in July of 1920, over 30 billion barrels of crude have been recovered, with experts predicting there are at least 20 billion barrels remaining.
How many oil rigs are in the Permian Basin?
March 2022 Rig Count by Shale*
In the major plays, the Permian Basin rig count is at 319 rigs, up 10 rigs in the last month.
What are torchlight assets worth? As of April 2022 Torchlight Energy Resources has a market cap of $0.78 Billion. This makes Torchlight Energy Resources the world’s 4521th most valuable company by market cap according to our data.
Did torchlight sell their land? Torchlight Energy entered into an option agreement to sell its 9,600 acre Hazel project to a private investor group for $1,300 per acre. In a news release, Torchlight Energy Resources Inc. (TRCH:NASDAQ), announced « the signing of an option agreement to sell the Hazel project to a group of private investors. »
How much land does torchlight own? Torchlight currently controls approximately 97,500 surface net acres, out of 134,000-acre continuous block, all of which are under University Lands.
Why is the Permian Basin so popular?
Permian Basin, also called West Texas Basin, large sedimentary basin in western Texas and southeastern New Mexico, U.S., noted for its rich petroleum, natural gas, and potassium deposits. Owing to its economic importance, it is one of the most well-studied geologic regions of the world.
Who is the largest oil producer in the Permian Basin? A new analysis says Pioneer passed Occidental Petroleum as the largest producer in the Permian. That analysis also said independents are more productive than the supermajors.
Who owns the most oil in Texas?
Largest North Texas Oil Production Companies
| Rank | Business Name, Prior Rank | Average Monthly Oil Production 2016 (in barrels, BBLS) |
|---|---|---|
| 1 | XTO Energy Inc. | 2.75 million |
| 2 | Pioneer Natural Resources Co. | 6.51 million |
| 3 | EXCO Operating Co. LP | 459,410 |
| View This List |
28 mars 2018
How long will the Permian Basin last? At today’s production, costs and technical knowhow, we have enough proved reserves to last roughly 13 years for natural gas and 9 years for crude and condensate.
How many drilling rigs are working in Alberta right now?
Active Drilling Rigs
| RIG ACTIVITY TYPES | February |
|---|---|
| Unadjusted | 2022 |
| Active drilling rigs Active drilling rigs | 137 |
| Inactive drilling rigsInactive drilling rigs | 177 |
What is the Rig Count today?
US Rig Count is at a current level of 693.00, up from 689.00 last week and up from 432.00 one year ago. This is a change of 0.58% from last week and 60.42% from one year ago.
How will torchlight pay dividends? Stockholders of record on June 24, 2021, will be entitled to receive the dividend which will consist of one share of Series A Preferred Stock for each one share of common stock owned on that date (subject to adjustment for any reverse split of Torchlight’s common stock after the record date but before the dividend is …
How do I qualify for Torchlight dividend? Starting off, it’s worth noting that investors will have to be on record as holding TRCH stock starting on June 22. They will also have to continue to hold those shares through June 24 to be eligible for the dividend. Investors that are wondering how much the dividend will payout still don’t have any concrete details.
What is TRCH dividend?
(NASDAQ:TRCH), an oil and gas exploration company (‘Torchlight’), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock.
Is there oil in the Orogrande basin? 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.
Is there oil in orogrande basin?
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.
Is orogrande in the Permian Basin? (NASDAQ: TRCH) (« Torchlight » or the « Company »), today provided an update to its Orogrande Basin Project and Hazel Project which is located in the prolific Permian Basin.
How many acres is the Orogrande basin?
(TRCH:NASDAQ) has been quietly drilling into the massive Orogrande Basin, where it controls 133,000 net acres in Hudspeth County.
