Dallas, TX (PRWEB) November 07, 2013
Petron Energy II, Inc. (“Petron II” or the “Company”) (OTCBB: PEII) Petron Energy II, Inc. Reports on Implementation of its Secondary Recovery Operations in Oklahoma.
Petron Energy II, Inc., together with its subsidiaries, engages in the acquisition and development of properties for the production of crude oil and natural gas, the transportation of natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary. The Company’s operations are based in the United States.
Petron Energy II, Inc. announced today that it will begin secondary operation on its Snyder/Simon lease in Tulsa, Oklahoma during the month of November. This lease is comprised of 13 Dutcher Sandstone existing wells, the Dutcher Sandstone has been oil and natural gas productive since the mid-1920’s. The company has 18 leases which it expects to implement its brand of secondary recovery flooding, which involves water and natural gas injection. The two reservoirs we will focus on for secondary flooding operations are the Dutcher and Wilcox, each has been extremely productive over the years for primary oil and natural gas production. Additionally the company believes the estimated daily production range for each lease is 30 – 50BOE/D.
Floyd Smith, President and CEO of Petron Energy II, Inc., states "We are very excited to begin the completion process for the Snyder/Simon lease; this is one of our better leases. Our team has felt all along that once we are able to begin implementing each lease for water and natural gas flooding procedures it should allow the company to realize potentially higher daily production rates on a consistent basis. By developing each shallow lease, we will begin to report our production rates per lease versus by individual well which we believe allows the company to report higher cumulative production totals.”
Smith goes on to say, “We are very pleased with the early production signs from the LaNina #2, Covenant #5 and Gerner #2 wells, we expect to complete our monitoring process for each well soon and report those results as soon as they are available.”
About Petron Energy II, Inc.:
Petron Energy II, Inc. is a Dallas-based, oil and gas exploration and production company. For further information about the Company, please visit our website http://www.petronenergyii.com.