SAN MARCOS, Texas, Feb. 18, 2015 (GLOBE NEWSWIRE) -- Baron Energy, Inc. (Pink Sheets:BROE) ("Baron" or the "Company"), an independent crude oil and natural gas company, has placed its Investor Presentation on its website (www.baronenergy.com).
Management Comments
Ronnie L. Steinocher, President and CEO, said, "We finished 2014 well-situated to move into 2015 and significantly ramp-up our production by mid-year. Our year-end 2014 production was 220 BOEPD gross/155 BOEPD net (compared to year-end 2013 at 35 BOEPD gross/15 BOEPD net). We drilled our first lateral (3,000') recompletion in the Austin Chalk in December last year. We are continuing to increase our production via fieldwork and expect to be at approximately 300 BOEPD/210 BOEPD net by April 2015."
Mr. Steinocher added, "We are finalizing our 2015 work programs and preparing to begin drilling operations in April of this year. With success, we plan to operate a continuous drilling program for the remainder of the year with the main focus on horizontal Austin Chalk wells. These Austin Chalk laterals should have initial production rates of 100-250 BOPD. We operate all of our properties and in most cases own a 95-100% working interest."
"Additional information about Baron and our 2015 growth plans can be found on our 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.