Orion concentrates on developing reservoirs utilizing horizontal drilling and other appropriate technology to reduce exploration risk in the process of exploring rich, fertile basins, known to contain abundant hydrocarbon accumulations.
Exploration projects are identified utilizing reservoir characterization based upon the use of all available technical tools; including all subsurface data, seismic data and geomorphologic interpretation. As projects are matured to the drilling stage, portions of the projects are sold to non-operating, industry participants. As operator, Orion manages all facets of project development, from initial lease acquisition to getting the product to the purchaser.
Reservoir characterization is utilized progressively, in these multi-pay core areas, to identify additional economic oil and gas targets and to understand how to efficiently produce and develop these additional reservoirs to create value. Once primary reservoir, core area development has begun, with the completion of infrastructure, the ability to create value is greatly enhanced at reduced capital expenditures.
The Exploratory Project Model
Vertical and Horizontal drilling technologies and completion techniques have unlocked a new exploration play that encompasses most of northern Oklahoma and much of Kansas, in the exploration for hydrocarbons in the reservoirs underlying the core area. These highly heterogeneous reservoirs have historically been identified as “tight” hydrocarbon bearing targets. New, current day completion tools and technics has refined the producibility of vertical well drilling in the core area reservoirs to generate economic returns. Regional reservoir characterization can be used to fine tune targets in these heterogeneous rocks and used to identify multiple economic targets. Currently, Orion has completed a regional technical evaluation, identified 5 producing properties, in a core area, located in Oklahoma and Kansas, that has significant potential for growth of value through exploration and exploitation. Orion is actively pursuing the acquisition of three of the producing properties that have been identified in the core areas.