![]() The TakeawayĪs you can see, Torchlight Energy is on the right track in eliminating its debt burden – something you can’t necessarily say about every other oil company. And, it comes on the heels of an earlier announcement in which Torchlight Energy had eliminated $1,120,000 worth of subordinated debt. It’s a huge burden to be lifted off of the stakeholders’ shoulders. So now, Torchlight Energy doesn’t have to use those two assets to secure the company’s debt anymore. Moreover, “The blanket liens on the Orogrande Project and the Hazel Project that were securing the debt will be released in full.” How is this good news? As the company’s statement explains, “This leaves Torchlight with no term debt remaining on its books.” Fortunately, Torchlight Energy does not appear to fall into that category.Īs reported by InvestorPlace contributor William White, Torchlight Energy’s remaining secured noteholder recently converted all $1.5 million of the company’s remaining debt into shares of TRCH stock. Let’s not kid ourselves: oil drillers are sometimes known for carrying heavy debt loads. Winkler Project: 1,080 acres in the Delaware Basin contains six prospective benches or “stacked pay zones,” where as many as 20 long laterals can be drilled.ĭue to prime location of the company’s assets, Torchlight Energy could be the target of an acquisition.Īnd indeed, the company seems open to the possibility as the “Preferred target acquirer would be a larger public E&P.Project Hazel: 12,000 acres in the Midland Basin surrounded by numerous successful oil and gas wells dating back to the 1960’s.Orogrande Project – 133,000 acres in the Orogrande Basin six vertical test wells, and two horizontal wells successfully drilled to date.Here are the highlights of those projects: Impressively, Torchlight’s three projects easily span more than 100,000 net acres. Now, Torchlight Energy might be relatively small with its market capitalization of about $322 million ( according to Yahoo Finance), but don’t discount this company as a minor energy-market player. Like many American oil companies, Torchlight is headquartered in the heart of Texas’s famous Permian Basin region, which itself comprises a number of petroleum-rich basins. Hopefully, the bulls can retake the $4 level and hold it the next time around. It’s encouraging to know that the stock isn’t currently in jeopardy of being de-listed from the Nasdaq. Then, however, a pullback ensued as the stock price retreated to $2.14 on March 5. That wasn’t even the end of the story as the Torchlight Energy share price surpassed $4 on Feb. Thankfully, the bulls took control of TRCH stock and ran it up in January. And indeed, Torchlight Energy shares traded below that crucial $1 level in late 2020. If a stock’s bid price remains below $1 for too long, the Nasdaq Exchange might de-list that stock. ![]() ![]() ![]() 7 of the Top Transportation Stocks to Buy Right Now.That’s the day when TRCH stock regained compliance with Nasdaq Exchange listing requirements. 25, 2021, was an important day for Torchlight Energy. Some of you probably haven’t investigated Torchlight Energy yet, so I invite you to join me as I take a closer look at this fascinating energy-market player, along with the stock’s recent price moves. Yet, investing in companies with high-potential oil assets can magnify your gains in the broader commodities-sector uptrend. Sure, there are exchange-traded funds that you can use to ride the petroleum bull. West Texas intermediate crude oil has gone on a tear, catapulting from $35 and change per barrel in late October to more than $66 in early March.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |