Published On: Wed, Sep 25th, 2013

Petron Energy II, Inc. (OTCBB: PEII) Reports a 30% Increase in Production

Petron Energy II, Inc. (OTCBB: PEII), is a Dallas-based, oil and gas exploration and production company, announced Tuesday, September 24th, a 30% increase in production from its Edwards Leases in Oklahoma.

Floyd Smith, President and CEO of Petron Energy II, Inc., stated in the company’s press release dated September 24th, “We are very pleased with the production results of the Edwards leases; we have implemented 20% of our secondary recovery plan for the Edwards leases which involves reworking and re-pressurizing wells in the Wilcox and Dutcher pay zones. We believe as we continue to rework wells in the Wilcox and Dutcher zones we should realize further production improvements.”

Petron Energy II, Inc., which is currently engaged in the acquisition and development of properties for the production of crude oil and natural gas, had also previously stated the company had a total of 18 leases to equip for secondary recovery operations.  Further, in the company’s August 22, 2013 press release the company stated that the scheduled fracture stimulation treatment for the LaNina and Covenant wells for mid-September were not met due to scheduling delays.  Persons from management stated that each new zone scheduled for stimulation in the LaNina and Covenant wells has a proven production history for producing both oil and natural gas.

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