February 8th, 2012
Posted on 30. Jul, 2010 by PublicWire in Featured
(BROE.OB)Baron Energy, Inc. Completes Production Enhancement Program
(PublicWire.com News Release)Baron Energy, Inc. (”Baron” or the “Company”), an independent oil and gas company, today announced that it has completed Phase-1 of its production enhancement program. Baron also has begun the evaluation process for a number of bolt-on acquisition opportunities.
Management Comments
Ronnie L. Steinocher, CEO, commented, “We are moving along on our production enhancement program and have already completed Phase-1, which consisted of returning two wells to production. Phase-2 will add additional produced fluid capacity and water disposal to select producing wells which will also add to our daily production. Phase-3 will be to bring a few shut-in wells back on stream. Our plan is to have all Phases completed by the end of August. The enhancement goal is to increase current production by 20-30%.”
Mr. Steinocher further noted, “We have recently been in contact with a few sellers about acquiring production within our existing area of operations and have started to evaluate these opportunities. Any new production acquisitions would be accretive and operated by Baron. We are targeting bolt-on opportunities that will increase our current production by 25-50%.”
(BROE.OB)Baron Energy, Inc. Completes Production Enhancement Program
Baron Energy, Inc. is an independent oil and gas production, exploitation, and exploration company headquartered in New Braunfels, Texas with producing assets in the prolific oil producing Permian Basin of West Texas.
Baron owns production that is 99% oil, both operated and non-operated, with working interest ranging from 5% to 100% in oil and gas fields located in Baylor, Borden, Garza, Jones, Runnels, Scurry and Taylor Counties, Texas.
Baron’s growth strategy centers on making accretive property acquisitions in its core operating area. The Company targets properties that have oil production with upside developmental potential.
For more information, please visit www.baronenergy.com
BROE.OB, BROE.OTCBB, OTCBB:BROE, BROE
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(BROE.OB)Baron Energy, Inc. Completes Production Enhancement Program