Torchlight Energy Resources Inc. ,today announced that the Company will take back operational control from Founders Oil and Gas on its Orogrande Basin Project. Torchlight will be joined by Wolfbone Investments, LLC, , a company owned by Greg McCabe, Torchlight's Chairman. The two entities have entered into a Farm In Agreement with Founders and will share the remaining commitments under the prior agreement with Founders [...]
Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the Company has contracts in place to enter into an acreage position in the prolific Delaware Basin Wolfbone play in Winkler County, TX through transactions with its Chairman Greg McCabe and a private Denver Based E&P. The net effect of the transactions would provide Torchlight with 10.72% WI in a stacked 640-acre block [...]
Torchlight Energy Resources Inc. , today provided an update to the flowback process underway on its Flying B Ranch #3H well. The initial barrels of load water to be recovered measured 318,000 and while early flowback was achieved without the assistance of a pump, the Operator placed the well on artificial lift employing an electric submersible pump to decrease the load water recovery time based on initial rates. Currently [...]
PLANO, TX--(Marketwired - September 25, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that management will present at the Johnson Rice & Company 2017 Energy Conference on Wednesday, September 27, 2017 in New Orleans, LA. The Johnson Rice & Company 2017 Energy Conference Date: Wednesday, September 27, 2017 Presentation Time: 1:30 p.m. CT Conference participation is [...]
PLANO, TX--(Marketwired - September 06, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that the frac stimulation has been completed on its Flying B Ranch #3H well. All 28 stages were delivered per the Company's plan and the coiled tubing unit is now on location to prepare the well for flow back after drilling out the plugs. Torchlight expects flowback to begin [...]
PLANO, TX--(Marketwired - August 28, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"),today announced that the previously announced frac procedure on its first horizontal well in the Company's Permian (Midland) Basin Hazel Project is underway. Due to a cancellation, the frac crew originally slated for the end of September could move onto location and begin the frac stimulation of the [...]
PLANO, TX--(Marketwired - August 15, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today provided an operational update covering the Company's West Texas Orogrande Basin Project and Hazel Project located in the Midland Basin area of the Permian. Orogrande Basin Project: Preparatory work is currently underway on the drill site for Torchlight's next well in its Orogrande Basin [...]
Plans to Frac 5,000-foot Section in Wolfcamp A Formation PLANO, TX--(Marketwired - July 18, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that it has completed the drilling stage of the Flying B Ranch #3H well. The horizontal leg at Total Depth was ~8,300 feet in the Wolfcamp A Bench. Preliminary indications from mud log and gamma ray MWD readings indicated a [...]
PLANO, TX--(Marketwired - June 26, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced it was added to the U.S. Russell Microcap Index ® after the equity markets closed on June 23, 2017. "Being added to the Russell Microcap Index is a positive milestone as we look to increase Torchlight's exposure in the investment community and broaden our shareholder base," stated [...]
PLANO, TX--(Marketwired - June 07, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that it will move a rig onto location this week to commence drilling the Flying B Ranch #3H, the Company's first horizontal well to be drilled on its Permian Basin (Midland Basin) assets. The well is expected to encounter multiple (stacked) pay zones and is planned to have a lateral [...]
PLANO, TX--(Marketwired - April 24, 2017) - Torchlight Energy Resources Inc. (NASDAQ: TRCH) ("Torchlight" or the "Company"), today announced that it has successfully tested the Flying B Ranch #2 vertical well in the Lower Wolfcamp A and Upper Wolfcamp B sections. The well is still in the flowback process and improving during clean-up of the 2000 barrels of frac load remaining. The well is currently testing at ~20 barrels [...]
PLANO, TX--(Marketwired - April 17, 2017) - Torchlight Energy Resources Inc. (TRCH) ("Torchlight" or the "Company"), today announced the closing of $8 million in unsecured 12% promissory notes through a private placement. The promissory notes bear interest at the rate of 12% per annum and mature on April 10, 2020, with interest payable monthly and a lump sum payment of outstanding principal due on maturity. The notes were [...]
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