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Orion Diversified Announces Large Acquisitions in the Permian Basin

June 01, 2022 at 15:15 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

CARSON CITY, NV / ACCESSWIRE / June 1, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") announced today two significant acquisitions in the Permian Basin have closed on June 1, 2022.

HIGHLIGHTS

PERMIAN BASIN

9280 Acres in Pecos County Texas, 1% Working Interest in the Pinon Overthrust Gas Area.

5 Oil and Gas wells in Ector County averaging 15 BOPD and 10 MCFPD with a 1.179 Working Interest.

Orion Diversified Holding Co Inc., Wednesday, June 1, 2022, Press release picture

MANAGEMENT COMMENTS

"Under new leadership Orion has grown fast with almost 16,000 gross mineral acres in the largest oil and gas fields from the Permian Basin to the Bakken Shale. This is a very large acreage acquisition for Orion and these wells are being operated by Occidental Petroleum. Revenues are on target to exceed $35,000 for the month of June 2022.," commented Thomas Lull, Chief Executive Officer of Orion. "Management is working closely with petroleum engineers to perforate and increase production on the already producing Eagle Ford 1680 acre 3 well Rhode Ranch property. We are also working on the final closing of another 320 acre 7 well operated property in the Permian Basin."

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.

View source version on accesswire.com:
https://www.accesswire.com/703488/Orion-Diversified-Announces-Large-Acquisitions-in-the-Permian-Basin