DALLAS, TX–(Marketwired – Aug 6, 2013) – Petron Energy II, Inc. (OTCBB: PEII) reports a 50% increase in Natural Gas Production from rework operations in its Petron Energy II Pipeline subsidiary 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, transporting natural gas through its pipeline subsidiary and well servicing through its servicing subsidiary, in the United States.
Floyd Smith, President and CEO of Petron Energy II, Inc., states, “We are very pleased with the 50% increase in natural gas production from our pipeline subsidiary and believe that as we put more wells online our volumes should continue to increase. Our team remains committed to our goal of enlarging our acreage footprint as we concentrate on acreage immediately around our pipeline facilities in the Oklahoma market.” Smith goes on to say, “We have always believed that since we are the only transporter of natural gas to market in our exclusive area, along with the fact that the overall production capacity for the pipeline is 10 million cubic feet of gas per day, it provides us with a very unique advantage which we intend on capitalizing.” Smith further states, “The natural gas we transport to market is high in oil liquid condensate which provides additional revenue value for Petron Energy II, Inc.”
NOTICE: This news release contains “forward-looking statements” (statements which are not historical facts) made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.