Torchlight Energy Resources Inc., based in Plano, Texas, is a high-growth oil and gas exploration and production company with a primary focus on the acquisition and development of highly profitable domestic oil fields. The company holds interests in Texas, Oklahoma and Kansas, where its targets are established plays such as the Eagle Ford and Hunton trends. Focused on proven, established plays with multiple pay zones, the company has a solid management team with over 175 years of combined experience.
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"The chairman of the company actually was the former head of midcontinent E&P for Amoco Corp. He has gone into areas that he has known and developed to source Torchlight's core projects. The company looked for players with good engineering and drilling capabilities and a history of success in those specific regions. As an example, in Kansas, it is partnered with Ring Energy, and Ring's management team has had two previous successful public exits, the most recent being Arena Resources Inc., which it sold to SandRidge Energy for $1.7B. Ring's team has a tremendous track record for drilling and producing these less sexy but very economic infill wells, and does so pretty rapidly. So Torchlight has a pretty good pilot program, and we expect the company could knock out as many as 20 or 30 wells this year, in which Torchlight is a 50/50 partner."
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Torchlight Energy Resources Inc. Content
The Street Interview with CEO Tom Lapinski (3/20/14)
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