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Baron Energy, Inc. provided an update on its operations and outlines its forward plans.
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.
"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."
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