Baron Energy收購德克薩斯南部資產

Baron Energy Inc. (Pink Sheets:BROE), an independent crude oil and natural gas company based in San Marcos, Texas, has signed a non-binding Letter of Intent (LOI) to acquire a package of producing properties located in four South Texas counties.

Ronnie L. Steinocher, President and CEO, said:’We have recently executed a non-binding Letter of Intent to acquire a multi-well package of producing properties from a private seller. The properties are located in our Core Area of operations in South Texas. The properties will be owned by our non-op working interest partners within our South Texas Project consortium and Baron Energy Inc. will be the operator of the properties. Our offer is subject to customary due diligence, funding, completion of definitive agreements, and final partnership approvals.’

Mr. Steinocher added, ‘We have now managed the closings of five producing property acquisitions this year. This new package of producing properties will significantly augment our strategy to build a portfolio of producing properties over the next two years that has substantial value and then monetize the portfolio.’