Orion Announces an Acquisition in the Las Animas Gas fields of Colorado

Rhea-AI Summary

Orion Diversified Holding Co (OTC PINK:OODH) announced the acquisition of a 2.5% royalty interest in the Las Animas Gas fields of Colorado, covering 200 acres. This acquisition expands Orion's mineral ownership to 29,361 acres across major US oil and gas regions. Las Animas County is among Colorado's top natural gas-producing areas. This marks Orion's second acquisition in Colorado within four months, with a total of 2,927 acres ready for drilling, including properties in Eagle Ford, Texas.

Positive

• Acquisition of a 2.5% royalty interest in Las Animas Gas fields enhances revenue potential.
• Total mineral ownership now stands at 29,361 acres, providing extensive market presence.
• Las Animas County ranks among the top 5 counties in Colorado for natural gas production.

Negative

• None.

CARSON CITY, NV / ACCESSWIRE / September 21, 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 Las Animas Gas fields of Colorado. The property consists of a 2.5% royalty in 200 acres. Orion now has mineral ownership in 29,361 acres in all major US onshore oil and gas regions.

MANAGEMENT COMMENTS

"Las Animas County Colorado is ranked in the top 5 counties in Colorado for natural gas production. The orange dots on the map identify recent leases ready to be drilled. Oil and Gas companies typically only have three years to drill on these leases before the primary term expires. This means a very significant amount of capital has already been deployed at these locations before the drilling begins," commented Tom Lull, CEO of Orion. "This is the 2nd acquisition we have made in Colorado in the past 4 months, and Orion is the operator owner on 1,127 acres in San Miguel County Colorado. When you add in our Eagle Ford Texas 1800 acre 3 well property, we have 2,927 acres ready for drilling."

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/716819/Orion-Announces-an-Acquisition-in-the-Las-Animas-Gas-fields-of-Colorado

FAQ

What is the significance of Orion's acquisition in the Las Animas Gas fields?

The acquisition represents a strategic investment in a top natural gas-producing area, potentially increasing revenue through royalties.

How much land does Orion Diversified now own after the acquisition?

Orion Diversified now holds mineral ownership in a total of 29,361 acres across major US oil and gas regions.

What impact does the Las Animas Gas fields acquisition have on OODH?

The acquisition positions OODH for potential revenue growth from royalties and enhances its operational footprint in key gas-producing regions.

What previous acquisitions has Orion made prior to Las Animas?

This is Orion's second acquisition in Colorado within four months, focusing on expanding its drilling opportunities.

What are the future prospects for Orion Diversified after this acquisition?

With increased mineral ownership and drilling potential, Orion is well-positioned for growth in revenue and operational success.