Baron president and CEO Ronnie L. Steinocher said the company has retained an option to purchase an additional 25% working interest within the next six months in the oil property in Young County producing from the Strawn formation. .
Production is expected to increase at the prospect following a 3-4 well reactivation program and production enhancement procedures within the existing wells.
"Our goal is to acquire, on average, at least one bolt-on producing property acquisition per month for the remainder of the year. We target oil properties that will add from 5-20% to our current production base," added Steinocher.
Baron owns production of 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.
