Orion Diversified Holding Co Inc (OTCMKTS:OODH) is a company with a strategy of investing in non-operated working interests, operated majority working interests as well as non-operated working interests. The company also invests in oil & gas properties with a core area of focus in premier basins within the United States.

Market Action

On Thursday, OODH stock gained 97.27% to $0.0434 with 1.45 million shares, compared to its average volume of 138K shares. The stock moved within a range of $0.0234 – 0.0440 after opening trade at $0.0234.

Orion Diversified Announces an Acquisition in the Permian Basin

Orion Diversified Holding Co Inc on July 22, 2022, announced on the closing of an acquisition of royalty interest in Yoakum County Texas. The property comprises 0.00175% royalty interest applicable on 640 acres producing 93mcgpd and 416 bopd. It is operated by White Rock Oil & Gas LLC. Orion has a mineral interest in over 21,361 acres in Powder River Basin, Permian Basin, Bakken Shale, Haynesville Shale, Woodford Shale, Niobrara Shale& Eagle Ford Shale. It is estimated that about over 3200 acres are in operations by Orion at 70 %+ NRI in Eagle Ford & Colorado.

Tom Lull, CEO of Orion said that the North Dakota Bakken horizontal wells have started paying out. Lull added that the firm has received a check for over ten thousand dollars with operating expenses of about six thousand dollars. Lull further stated that Royalties and non-operated working interests enable the firm to make money without taking operations.

The company is negotiating the acquisition of more operated properties in the Permian Basin. The CEO said that the firm is also planning on perforating the Rhode property in Eagle Ford Shale for increasing revenues and existing production. Lull also said that the recent acquisition in Yoakum County Texas is making over one million in revenue per month from a small number of producing wells. As per the CEO, several wells are also being turned on and more wells are permitted for drilling.

Orion Reaches Acreage Milestones at 21,041 Royalty Acres

Orion Diversified Holding Co Inc on July 8, 2022, announced closing two separate acquisitions in the week for 480 acres. The company has a royalty interest in 21,041 acres across all producing US oil and gas places.

Orion has a mineral interest in over 21,041 acres in Permian Basin, Bakken Shale, Haynesville Shale, Woodford Shale, Niobrara Shale, Powder River Basin, Anadarko Basin, & Eagle Ford Shale. The company is operating over 3200 acres at a 70 %+ NRI in the Permian Basin and Eagle Ford.

Tom Lull, CEO of Orion said that two separate royalty acquisitions have been achieved in the week. Orion bought 1.6% royalty interest on 160 acres in the Anadarko Basin of Greeley County Kansas. The CEO also confirmed on purchase of .31% royalty interest on 320 acres in Texas County Oklahoma. Lull added that royalties are precious and enable the company to get income in each of the US’s oil and gas regions without operations. The company’s properties in Permian Basin and Eagle Ford will achieve revenues of over $40,000 in July 2022.

Traders Note

OODH stock is trading above the 20-Day and 50-Day Moving averages of $0.0300 and $0.0293 respectively. Moreover, the stock is trading in the oversold zone with RSI stands at 68.