ORION DIVERSIFIED HOLDING CO INC. (NASDAQ:OODH) Orion Announces an Acquisition in the Anadarko Basin of Oklahoma
Transparency directive : regulatory news
CARSON CITY, NV / ACCESSWIRE / September 16, 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 the Anadarko Basin of Oklahoma. The property consists of a 2.04% non-operated working interest in 640 acres currently producing 50 mcfpd from 3 vertical wells. Orion now has mineral ownership in 29,161 acres in all major US onshore oil and gas regions.
MANAGEMENT COMMENTS
"Every acquisition builds more revenue, and we are receiving revenue checks from our working interest operations and royalties. We own royalties all over the United States, and this latest acquisition is operated by Merit Energy." commented Tom Lull, CEO of Orion. Royalties are very expensive, and we feel very fortunate to be able to continue growing in this overinflated market."
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.
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