Baker Energy Awarded Service Agreement

Baker Energy has been awarded a $2.4 million Master Services Agreement from PANACO, Inc. to operate all of its oil and gas production properties located inland and offshore in the Gulf of Mexico.

Under this agreement, Baker will provide more than 40 skilled personnel to operate and maintain PANACO's five producing fields in the Gulf and the Umbrella Point in the Texas inland waters. Including PANACO, Baker is now operating 310 manned and unmanned facilities in the Gulf of Mexico and 29 fields in the Gulf Coast inland waters.