Orion Owns 30,000 Mineral Acres

Rhea-AI Summary

Orion Diversified Holding Co (OTC PINK:OODH) announced the acquisition of a royalty interest in Huerfano County, Colorado, amounting to 1.56% on 640 acres. Orion boasts mineral interests spanning over 30,321 acres across major U.S. shale regions. The company generates multiple income streams from its operations, including 3 wells in the Eagle Ford and 13 in Oklahoma, North Dakota, and New Mexico. Management emphasizes the significant gas reserves within their acreage, enhancing future drilling prospects.

Positive

• Acquisition of 1.56% royalty interest in 640 acres enhances asset portfolio.
• Mineral interests exceed 30,321 acres across major U.S. shale regions.
• Multiple income streams from 3 operated wells and 13 non-operated wells.
• Potential for significant gas reserves with ongoing drilling operations.

Negative

• None.

CARSON CITY, NV / ACCESSWIRE / October 5, 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 Huerfano County Colorado. The property consists of a 1.56% royalty interest in 640 acres.

ACREAGE & REVENUE HIGHLIGHTS

Orion owns mineral interest in more than 30,321 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, Eagle Ford Shale, Anadarko Basin, and Las Animas Gas fields.

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

"The above topographic map shows the size of the field where our 3 well Eagle Ford operated property is located. Every 300-acre tract inside the field has an estimated 7.5 BCF of gas reserves. "Commented Tom Lull, CEO of Orion." With 1680 continuous acres inside the field, we can drill horizontal lateral wells in excess of 10,000 feet across our entire acreage. We know where the zones are from the southwest to the northeast inside our acreage. The Wilcox zone runs very consistently across all 1680 acres at 7800 feet in depth. We are working diligently to start perforating the already producing 11,000 foot horizontal well in the southwest corner."

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/718974/Orion-Owns-30000-Mineral-Acres

FAQ

What recent acquisition did Orion Diversified Holding Co (OODH) announce?

Orion announced the acquisition of a 1.56% royalty interest in 640 acres in Huerfano County, Colorado.

How many acres of mineral interests does Orion Diversified Holding Co (OODH) own?

Orion owns mineral interests in over 30,321 acres across various U.S. shale regions.

What are the income sources for Orion Diversified Holding Co (OODH)?

Orion has income from 3 operated wells in the Eagle Ford and 13 non-operated wells in Oklahoma, North Dakota, and New Mexico.

What is the significance of the recent acquisition for Orion Diversified Holding Co (OODH)?

The acquisition potentially increases Orion's revenue streams and strengthens its position in the oil and gas sector.