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Orion Diversified Announces an Acquisition in the Powder River Basin

July 01, 2022 at 10:25 AM 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 / July 1, 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 Converse County Wyoming. The property consists of a 0.625% royalty interest on 320 acres.

Orion Diversified Holding Co Inc., Thursday, June 30, 2022, Press release picture

ACREAGE HIGHLIGHTS

Orion owns mineral interest in more than 20,561 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, & Eagle Ford Shale.

3200+ acres are currently being operated by Orion at a 70 %+ NRI in the Eagle Ford and Permian Basin.

MANAGEMENT COMMENTS

"We are starting to see new drilling permits are being filed in our lands. With this much acreage owned the drill bit is already starting to find us. " commented Tom Lull, CEO of Orion. " Our 9280 acre property located in the Permian Basin of Pecos County Texas has gas infrastructure in place with producing wells. The Wolf Camp shale is one of the most prolific oil and gas producing fields in the US and the shale is located in the southeast corner of Pecos County near our property. The Powder River Basin in Wyoming is ramping up with leasing activity and there are 5000 wells planned to be drilled in this Basin over the next five years. You can see on the map there are already producing horizontals and we are surrounded by leasing activity."

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/707305/Orion-Diversified-Announces-an-Acquisition-in-the-Powder-River-Basin