Nevada-based Orion Diversified Holding Co. Inc. has closed on a royalty acquisition in the SCOOP/STACK play in Logan County, Oklahoma. (Source: Shutterstock)
Nevada-based Orion Diversified Holding Co. Inc. has closed on a royalty acquisition in the SCOOP/STACK play in Logan County, Oklahoma—it’s second deal in May.
Orion said it purchased a 0.625% royalty on 160 acres in Logan County, Oklahoma. In December, the company closed on 6.07% non-operated working interest and 0.12% override royalty interest with assets that include 23 wells averaging 205,900 cf/d and 67 boe/d.
On May 1, Orion said it closed acquisitions of non-op and royalty interests in Colorado, Oklahoma and Arkansas. Financial details of both acquisitions weren’t disclosed. Orion now owns 53,160 mineral acres in the Bakken, Eagle Ford Shale, SCOOP/STACK and Permian, Piceance and Arkoma basins.
"We now have 3-2 ½ mile horizontal wells drilled on our royalty acreage in the SCOOP/STACK of Oklahoma,” said Orion CEO Tom Lull. “We anticipate revenue checks from 2 of these horizontal wells in Kingfisher County, Oklahoma will start to pay in late May 2025. We anticipate revenue from the 2 ½ mile horizontal well recently drilled in Grady County, Oklahoma will pay in late June 2025. Orion has more than 1,000 royalty acres in the SCOOP/STACK area surrounding Oklahoma City."
Orion's revenues exceeded $20,000 in April from royalties and non-op working interest outside of Oklahoma, Lull said.
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