CARSON CITY, NV / ACCESSWIRE / March 16, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today a significant acquisition in the Permian Basin has closed on March 15, 2022.
HIGHLIGHTS
PERMIAN BASIN
320 Acres in Ward County Texas held by production, 100% Working Interest - 75+% Net Revenue Interest.
5 producing vertical oil and gas wells and 1 permitted injection well. Water injection easements are already in place.
Multiple oil and gas zones have been identified in the 5 existing oil wells.
Potential for Wolfcamp horizontal well completion and injection.
Property includes 4 oil tanks, 2 Seperators, 5 Pumpjacks, and a triplex pump for injection.
MANAGEMENT COMMENTS
"This property is located in the heart of the Wolfcamp Shale with immediate access to interstate 20. We can produce oil on this property and inject significant quantities of produced water from our neighbors." commented Thomas Lull, Chief Executive Officer of Orion. "The Wolfcamp shale is one of the largest producing onshore oil fields in the US, and we have substantial revenues with zero debt and zero share dilution for all of these assets."
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.
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https://www.accesswire.com/693269/Orion-Diversified-Holding-Co-Inc-Announces-a-Significant-Acquisition-in-the-Heart-of-the-Permian-Basin
