Orogrande Basin
Hudspeth County, TX
- Torchlight owns 72.5% working interest in full ~134,000 net acre unit
- Targeting 1300’ of primary pay – described as WolfPenn
- Additional unconventional pay in the Barnett and Woodford
- Conventional pay identified on approx. 20,000 acres using 2D, Gravity, Magnetics and well control
- Primary Unconventional Pay zone is Pennsylvanian at 5200-6100
- Stacked conventional pay in the Strawn, Atoka, Devonian, Bliss and 3 other potentials
- Pay zone depths – 4000’ to as deep as 8000’
- Oil and high BTU gas – 80/20 mix expected
- Basin formed at the same time as Delaware and Midland basins
- Lease covers majority of the basin in Texas
- Single Drilling and Development Unit Agreement on University Lands holds entire Block
- If 100,000 acres prove prospective - project would yield 156 Sections
- Based on analogous Midland Basin EUR’s – potential EUR’s of 4 to 6 million barrels per section
- Recent horizontal well results provide scientific data confirming system is slightly over-pressured (.64 pressure gradient compared to normally pressured Midland Basin assets)
- Well known Permian Basin expert Geologist, Rich Masterson originated the Wolfbone Play and developed thesis for the Orogrande Basin (WolfPenn)