|Headline:||Orion Diversified Announces Rapid Growth & Milestones Reached|
|Post Date:||Jun 23, 2022 10:08 AM|
|Word Count:||approx. 423 words|
CARSON CITY, NV / ACCESSWIRE / June 23, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today that it has closed on an acquisition of a producing non-operated working interest in 9 wells. The properties consists of a 0.5% to 13.5% non-operated working interest in 9 oil and gas wells averaging 225 MCFGPD & 40 BOPD on 4000 acres spread across North Dakota, Arkansas, and New Mexico.
ACREAGE & REVENUE HIGHLIGHTS
Mineral interest in more than 20,241 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, & Eagle Ford Shale.
3200+ acres are currently being operated by Orion at a 70 %+ NRI.
June 2022 Revenues are on target to exceed $43,000
"This recent acquisition places Orion in the Bakken Shale in North Dakota, and the Permian Basin located in New Mexico. One well from this recent acquisition is located in the Haynesville Shale formation in Arkansas. Preliminary estimates show this non-operated working interest is averaging $1,200 per month, and this will add to Orion's growing revenue streams." Commented Tom Lull, CEO of Orion. "We have hit a major milestone with mineral ownership in more than 20,000 acres and 18,000 mineral acres have been acquired in the 2nd Quarter of 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.
Orion Diversified Holding Co Inc.
SOURCE: Orion Diversified Holding Co Inc.
View source version on accesswire.com: