The company, Orion Diversified Holding Co Inc. (OTCMKTS:OODH) focuses on its main strategy of investing in operated majority working interest, non-operated working interest, and mineral interests in oil & gas properties. It also places a great deal of importance on the premier basins within the United States.

Market Stats

On Thursday, OODH stock moved up 6% to $0.0341 with 126K shares, compared to its average volume of 146K shares. The stock moved within a range of $0.0270 – 0.0341 after opening trading at $0.0296.

Orion Diversified Announces an Acquisition in the Permian Basin

On July 29, 2022, Orion announced the closing on two separate acquisitions totaling 480 acres. It has a royalty interest in 21,041 acres across all producing US oil and gas regions. The company owns a mineral interest in more than 21,041 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, Anadarko Basin, & Eagle Ford Shale. More than 3200 acres are currently being operated by Orion at a 70 %+ NRI in the Eagle Ford and Permian Basin.

It is anticipated that revenue is well on target to reach $100,000, in Q3 of 2022. There are several income streams coming in from 3 horizontal Bakken North Dakota wells at a 24% Non-Operated Working Interest. More income is being driven by its 2+% royalties in 4 wells in Oklahoma and operated 3 well properties in the Eagle Ford Shale. Orion recently purchased a 5% non-operated working interest in 10 wells that are in the pipeline to generate additional revenues.

Tom Lull, CEO of Orion, stated that their Oklahoma royalties & North Dakota Bakken horizontal wells are starting to pay out. He has received more than $11,000 in the month of July without having operations, thanks to royalties and non-operated working interests. The company is in the process of negotiating to acquire more operated properties in the Permian Basin.

Presently, they have a 1% royalty on 9,280 acres in the Pecos County Wolf Camp Shale field and this recent 6,360-acre 0.03% royalty acquisition puts them in the Sprayberry field. The Wolf Camp Shale and Sprayberry fields are the biggest onshore oil and gas fields by daily oil and gas production volume in the United States. This 6,360-acre property already has cash flow on a small amount of oil and gas production, and with new Sprayberry wells permitted for drilling, a dramatic increase is expected in revenue streams on this property.

Orion Reaches Acreage Milestones at 21,041 Royalty Acres

Orion Diversified Holding Co Inc. announced On July 8, 2022, about closing on an acquisition of a royalty interest in Garza and Lynn County Texas of the Permian Basin. The property consists of a royalty interest in 6,360 acres producing 35 bold & 10mcfgpd.

As of now, the company has mineral ownership of 15,640 Acres in the Permian Basin Wolfcamp Shale & Sprayberry fields. Orion owns a mineral interest in more than 27,721 acres in the Bakken Shale, Permian Basin, Woodford Shale, Haynesville Shale, Niobrara Shale, Powder River Basin, & Eagle Ford Shale.

Traders Corner

OODH stock is trading above the 50-Day and 200-Day Moving averages of $0.0315 and $0.0302 respectively. Moreover, the stock is trading above the 20-Day moving average of $0.0315.