SAN MARCOS, Texas, April 21, 2015 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent crude oil and natural gas company, has provided an update on its operations and outlines its forward plans.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "In the first quarter 2015 we increased our oil production in Taylor County, Texas and our natural gas production in Frio County, Texas via field enhancement programs and upgrades. Oil production is up 50% in Taylor County; natural gas production is up 40% in Frio County."
Mr. Steinocher added, "We have our proposed drilling schedule in place for the remainder of the year, beginning in June 2015 and running through August/September 2015. Positive results from the drilling program would provide for a major ramp-up in production and revenue. The program includes up to 3 development oil wells in Central Texas and 3 horizontal completions in the Austin Chalk. We operate all of our properties and own a 75-100% working interest."
"Baron is now in position for a substantial ramp-up in production over the next six months. We have a multi-year drilling inventory with multiple pay zones and are working to complete a full evaluation of our properties, including 3P reserves, by mid-year."
Additional information about Baron can be found on the Company's website under Investor Relations.
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) is an independent crude oil and natural gas acquisition, production, and exploitation company headquartered in San Marcos, Texas, with producing assets in South and Central Texas.
Baron's growth strategy centers on making meaningful producing property acquisitions with near-term upside and long-term production.
For more information, please visit www.baronenergy.com.
Forward-Looking Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "potential," "intend," and similar expressions. Such forward-looking statements, involved known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Baron Energy, Inc. (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including risk factors discussed in the Company's periodic fillings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.