SAN MARCOS, TEXAS – (News Release – July 10, 2017) – Baron Energy, Inc. (OTCPK: BROE) reports results for the 2Q 2017 ended June 30, 2017.
Second Quarter Highlights
- Engaged CTX Capital, Austin, Texas to assist with a growth capital raise
- Completed one workover in South Texas Project
- One workover planned for 3Q
- Continuing to evaluate bolt-on producing properties for potential acquisition
- Production South Texas Project
Management Comments
“Our South Texas Project is now to the point of drilling new development wells to increase production. To help fund our growth, we have recently engaged CTX Capital, an investment banker, to assist with a growth capital raise. We expect our funding program to accelerate through the 3Q and, if successful, we plan to begin drilling later this year to ramp up production. We believe our current portfolio contains enough future drilling locations to take us through our targeted 2019 Exit.”
About Baron Energy, Inc.
Baron Energy Inc. (“Baron” or the “Company”) is a publically traded, growth-oriented, crude oil and natural gas company based in San Marcos, Texas with operations in South Texas. Baron is a production only company and does not participate in exploration activities. The Company is currently building a portfolio of producing properties with long-term upside. Additional information on Baron Energy can be found at BaronEnergy.com.