Source: Baron Energy
Independent oil and gas company Baron Energy, Inc. (OTCBB:BROE) changed the crude oil transporter on its operated properties, providing Baron with more control over the timing of its oil sales.
"The oil from our operated wells is transported by truck; we are paid for our oil sales on a calendar-month basis,” said Ronnie Steinocher, president and CEO. “We now have a crude oil transporter willing to pick up and transport a partial load of oil. This provides significant flexibility to manage our monthly sales.”
Baron will now be able to minimize the time between production and sales and have more control over its monthly cash flow.
“We are continuing to find or create new ways to make our operations more efficient,” Steinocher added. “Small operational changes like this will add up over time. Oil that may have been stored in field tanks for months can now be sold immediately."
Baron holds producing assets in the prolific oil producing Permian Basin of West Texas. Baron owns production that is 99% oil, both operated and non-operated, with working interest ranging from 5% to 100% in oil and gas fields located in Baylor, Borden, Garza, Jones, Runnels, Scurry and Taylor Counties, Texas.
Baron's growth strategy centers on making accretive property acquisitions in its core operating area. The Company targets properties that have oil production with upside developmental potential.