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.
"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.
Orion Diversified Holding Co Inc. Thomas Lull, President firstname.lastname@example.org 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