Torchlight Energy Resources,
based in Plano, Texas, is a high growth oil and gas Exploration and Production
(E&P) company centrally focused on acquisition and development of highly
profitable domestic oil fields. The company holds interests in Texas, Kansas,
and Oklahoma where their targets are established plays such as the Eagle Ford,
Mississippian, and Hunton trends.
Among its five, current
projects is the Marcelina Creek Project which lies just a few miles north of
the Karnes/Wilson County line just southwest of Poth, Texas. The play involves
the upper cretaceous formations and is highly sought after for its Austin
Chalk, Buda, and Eagle Ford formations. TRCH is currently producing from three
of the pay zones on its lease.
The Cimarron Project is
located north of Oklahoma City in the Edmonds Field. The target formation is
the Paleozoic age Hunton Group that has been the leading oil producing
formation in Oklahoma. In the area, there are also numerous shallower
objectives as well. The project area is approximately 3,700 acres and
Torchlight has a minimum of a 15% working interest.
The company has entered into
a joint venture agreement with Ring Energy for exploration and exploitation in
the giant Hugoton Field area of Kansas. Under the terms of the agreement
Torchlight will match Ring’s expenditure for leases by drilling wells. Once the
drilling expenditures match the lease costs Torchlight will have earned 50% in
the entire 17,000 + acre block.
The Smokey Hills project,
involving a Mississippian aged carbonate as its target formation, has produced
in the area since the 1960’s from modest depths of less than 4,000 feet. The
field, in McPherson and Salina counties, has produced 20 million barrels of oil
to date with an estimated 250 million barrels in place.
For additional information
on the company, visit www.torchlightenergy.com
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