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.
Floyd Smith, President and CEO of Petron Energy II, Inc., states, 'On February 17, 2014 workover rigs moved on location to begin plugging work on seven wells, all plugging work should be completed on February 28. Once plugging work is completed we will immediately begin workover procedures involving downhole pump changes and repairing tubing leaks on 11 wells, all workover procedures are expected to be completed by March 15, 2014 at such time we will return our Texas production back online.' The company expects the Texas production should add and additional 8-10BO/D.