Torchlight Energy Resources, Inc. (stock ticker: TRCH) recently issued an update addressing acquisition interest from industry majors in its Orogrande Basin project in West Texas.

Torchlight reported that since commencing discussions in April, it has made seven individual presentations to publicly traded industry majors and private equity backed firms. Torchlight said it couldn’t name the companies, but their size range goes from an enterprise value of $400M to over $100B.

Torchlight CEO John Brda said a key focus has been the opportunities of the play as both an oil and gas project in the Wolfcamp/Penn zones, and additionally the Barnett/Woodford zones.

Source: Torchlight Energy Resources

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