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Streetwise Reports Examines a New Texas Oil Discovery by a Tiny Company

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SAN FRANCISCO, Aug. 02, 2018 (GLOBE NEWSWIRE) -- New oil and gas field discoveries in the U.S. are rare, but a tiny oil and gas exploration company, Torchlight Energy Resources Inc. (TRCH:NASDAQ), has pulled it off in the Orogrande Basin in West Texas. On July 25, the company announced that it is producing "significant hydrocarbons" from University Founders A25 #1 well.

Company mentioned: Torchlight Energy Resources Inc.

Torchlight noted that it has drilled a 1,000-foot, proof of concept lateral and "completed with a six-stage fracture stimulation in the Pennsylvania formation." The well has produced ~1.8 million cubic feet peak daily production rate based on hourly gas measurements. While the well has produced mostly gas to date, there have been limited quantities of 41 gravity oil.

Torchlight CEO John Brda stated, "The confirmation of production in the Orogrande Basin is major milestone for the company." 

Torchlight's accomplishments have caught the eye of resource investment experts.

John White, an analyst with ROTH Capital Partners, in a July 27 report, stated that the firm views "the hydrocarbon flow rates and results as very positive. Sustained gas production rates have ranged from 1.0 to 1.4 MMcf per day depending on choke size. This is confirmation of a petroleum system in the Orogrande Basin with a source rock necessary to produce hydrocarbons."

Continue reading this article: Why Four Wall Street Experts Are Recommending This Oil Stock

About Streetwise Reports

Streetwise Reports shares investment ideas in many sectors. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

DISCLOSURE:

The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Torchlight Energy Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Torchlight Energy. Please click here for more information. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torchlight Energy Resources, a company mentioned in the article.

The full disclosure is provided at the end of the published article: Why Four Wall Street Experts Are Recommending This Oil Stock

For more information, please contact Carmen Guzman, Cguzman@streetwisereports.com.

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