Baron Energy, Inc., an independent oil and gas production, exploitation and exploration entity, recently announced that the company has increased its current working interest and assumed operatorship in properties located in Scurry County, Texas. The properties consist of 100% oil production and over 800 acres.
Headquartered in Midland, Texas with producing assets in the prolific oil producing Permian Basin of West Texas, Baron Energy owns production that is 99 percent oil with working interest ranging from 5 percent to 100 percent in oil and gas fields located in Baylor, Borden, Garza, Jones, Runnels, Scurry and Taylor Counties, Texas. According to senior management, Baron Energy’s growth strategy focuses on creating accretive property acquisitions in its core operating area. The company continues to target properties that have oil production with upside development potential.
Ronnie L. Steinocher, president and chief executive officer of Baron Energy stated, “This is a good opportunity located in our core area of operations. Not only will this acquisition significantly increase our current production, it could have more than 20 future drilling locations; many with stacked pay zones.” Mr. Steinocher continued, This project is part of two oil discoveries made several years back that have never been fully developed. In addition, this acquisition is in line with our ongoing initiative to build a substantial portfolio of future drilling locations by mid-year and then commence an in-fill drilling program in the third quarter.”