Midland Basin

Wolfcamp A&B

  • ~12,000 gross acres (9,600 net acres), 100% of which will be operated
  • 75% Net Revenue Interest
  • 19 contiguous sections with a potential of as many as 300 horizontal drilling locations targeting the Wolfcamp A and B formations
  • Two vertical test wells successfully drilled verify horizontal potential. Horizontal drilling commenced in June 2017
  • Based on analogous Midland Basin EUR’s – potential EUR’s of 4 to 6 million barrels per section
  • Prospective for the Leonard and Dean formations providing upside
  • Wolfcamp ranges from 150 feet to 350 feet, requiring multiple horizontal legs per bench to fully drain. Potential EUR's are over 100,000 per 1000 ft. of lateral
  • All field services are available within close proximity to the acreage including oil and gas pipelines.
  • Well known Permian Basin expert Geologist, Rich Masterson (originator of the Wolfbone Play) is residing geologist for Project
  • Continuous drilling clause on the lease starting in July of 2016; Torchlight is obligated to drill one well (vertical or horizontal) every six months to hold the entire ~12,000 acre block (2 wells drilled every six months after June 2018)
  • Torchlight plans to manage Capex by farming out to industry partners to cover costs (similar effort to Orogrande Basin Project)