NEW BRAUNFELS, Texas, July 26, 2011 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent oil and gas company, announced today that it has completed the first phase of field work on its most recent acquisition.
Management Comments
Ronnie L. Steinocher, President and CEO, said, "We have completed the first phase of a three-phase program to increase production on our leases in Young County, Texas. This first phase has increased production by 100%. We expect to begin the second phase in late August, which will consist of acidizing 2-3 select wells in the field. If successful, we would expect another doubling of production."
"Our goal is to find economic ways to increase production and reserves in all of our properties. We have been successful using a three-phase approach. With each phase we gather more information about the wells and the reservoir's condition. We combine this information with our field operations in order to maximize production."
About Baron Energy, Inc.
Baron Energy, Inc. (Pink Sheets:BROE) 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 and North Central Texas.
Baron owns production that is 100% oil, both operated and non-operated, with working interests ranging from 12.5% to 100% in oil fields located in Baylor, Garza, Jones, Runnels, Scurry, Taylor, and Young counties, Texas.
Baron's growth strategy centers on making accretive acquisitions, production enhancement programs, reactivation projects, and in-fill drilling, all within the Company's core area of North Central and West Texas.
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 involve 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, including the Company's Annual Report on Form 10-K filed on October 23, 2009. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.