Orion Diversified Holding Co Inc (OTCMKTS:OODH) is a firm with primary strategy of investing in non-operated working interest, operated majority working interest and mineral interests in oil & gas properties. The principal focus is in premier basins within the United States.

Trading Data     

On Friday, OODH stock moved up 5.26% to $0.0300 with more than 39K shares, compared to volume of 125K shares. The stock moved within a range of $0.0300 – 0.0325 after opening trade at $0.0325.

Orion Reaches Acreage Milestones at 27,881 Royalty Acres

Orion Diversified Holding Co Inc on August 12, 2022, announced on closing the acquisition of royalty interest in Anadarko Basin of Noble County Oklahoma. Comprising of 160 acres, the property gets 1.875% royalty interest.

The firm owns mineral interest in over 27,881 acres in Permian Basin, Bakken Shale, Haynesville Shale, Woodford Shale,Powder River Basin, Niobrara Shale,Eagle Ford Shale & Anadarko Basin. Several income streams are coming from its

Three operated wells in Eagle Ford Shale as well as thirteen non-operated wells in North Dakota,Oklahoma& New Mexico. Orion is also getting income from royalties in over 16,000 acres in Wolf Camp&Sprayberry fields of the Permian Basin.

Tom Lull, CEO of Orion said that the company is growing quickly with fresh acquisitions. Lull further said that both non-operated an operated properties are generating significant revenues. The acreage acquisition in Oklahoma puts the firm in proven oil and gas field having much upside for fresh horizontal well development.

Orion Diversified Announces an Acquisition in the Permian Basin

Orion Diversified Holding Co Inc on July 29, 2022, announced on closing acquisition of royalty interest in Garza as well as Lynn County Texas of Permian Basin. Comprising of royalty interest in 6,360 acres, the field produces 35 bopd & 10mcfgpd. Orion has mineral ownership in 15,640 Acres in both Sprayberry fields and Permian Basin Wolfcamp Shale. The company owns mineral interest in over 27,721 acres inBakken Shale,Permian Basin, Haynesville Shale, Woodford Shale,Powder River Basin,Niobrara Shale & Eagle Ford Shale.

Orion is aiming at targets of $100,000 by quarter three of 2022. Orion is getting several income streams from three horizontal Bakken North Dakota wells at 24% Non-Operated Working Interest. Orion is also starting to receive income from the 2+% royalties in 4 wells in Oklahoma. Furthermore, it is also operating three well property in Eagle Ford Shale. The company also bought 5% non-operated working interest in ten wells, which will also generate extra revenues.

Tom Lull, CEO of Orion said that the Oklahoma royalties & North Dakota Bakken horizontal wells are paying out. Lull added that the company has got checks for over $11,000 in month of July. Both the non-operated working interest and royalties enable the firm to make money with operations. He also said that the company is negotiating on acquiring extra operated properties in Permian Basin.

As per Lull, the firm has 1% royalty in 9,280 acres in Pecos County Wolf Camp Shale field. The CEO also confirmed that Wolf Camp Shale and Sprayberry fields are largest gas and oil fields by production volume in United States. The 6,360-acre property has cash flow on small production, and new Sprayberry wells should add to the revenue streams on this property.

Technical Data

OODH stock is trading below the 20-Day and 50-Day Moving averages of $0.0313 and $0.0304 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0309.