Orion Reaches Acreage Milestones at 21,041 Royalty Acres

Rhea-AI Summary

Orion Diversified Holding Co (OTC PINK:OODH) has successfully completed two acquisitions totaling 480 acres, enhancing its royalty interests to 21,041 acres across key US oil and gas regions. The company now operates over 3,200 acres with a net revenue interest of over 70% in the Eagle Ford and Permian Basin. CEO Tom Lull noted that these royalty acquisitions will help generate significant income without direct operational costs, projecting revenues of $40,000 for July 2022.

Positive

• Completed two acquisitions totaling 480 acres, increasing total royalty interests to 21,041 acres.
• Operates over 3,200 acres with a net revenue interest above 70% in key areas.
• Projected revenue of $40,000 for July 2022 from operated properties.

Negative

• None.

CARSON CITY, NV / ACCESSWIRE / July 8, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today that it has closed on 2 separate acquisitions this week totaling 480 acres and Orion currently has royalty interest in 21,041 acres across all producing US oil and gas regions.

ACREAGE HIGHLIGHTS

Orion owns mineral interest in more than 21,041 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, Anadarko Basin, & Eagle Ford Shale.

3200+ acres are currently being operated by Orion at a 70 %+ NRI in the Eagle Ford and Permian Basin.

MANAGEMENT COMMENTS

"Two separate royalty acquisitions have closed this week. Orion purchased a 1.6% royalty interest on 160 acres in the Anadarko Basin of Greeley County Kansas. We also purchased a .31% royalty interest on 320 acres in Texas County Oklahoma." commented Tom Lull, CEO of Orion. "Royalties are very valuable and allow us to receive income in every US oil and gas region without maintaining operations. Our operated properties in the Eagle Ford and Permian Basin are on target to exceed $40,000 in revenue this July 2022."

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/708036/Orion-Reaches-Acreage-Milestones-at-21041-Royalty-Acres

FAQ

What is the significance of Orion's recent acquisitions for OODH?

Orion's recent acquisitions add 480 acres to its total royalty interests, which now stand at 21,041 acres, enhancing its revenue potential.

How much revenue does Orion expect in July 2022?

Orion projects to generate $40,000 in revenue from its operated properties in July 2022.

What regions do Orion's royalty interests cover?

Orion has royalty interests across various key US oil and gas regions, including the Bakken Shale, Permian Basin, and Eagle Ford Shale.

What percentage of the operated properties does Orion own in the Eagle Ford and Permian Basin?

Orion operates over 3,200 acres with a net revenue interest of more than 70% in the Eagle Ford and Permian Basin.

What type of company is Orion Diversified Holding Co?

Orion Diversified Holding Co focuses on investing in operated and non-operated working interests and mineral interests in oil and gas properties.