News Article | 5/15/2014

Ross Perot Jr.’s company hits oil in Iraq

Dallas Morning News: HKN Energy, Ross Perot Jr.’s oil company, announced Wednesday it had made a commercial oil discovery in the Kurdistan region of Iraq. HKN, a subsidiary of Hillwood International Energy, is among a fleet of oil companies drilling in Kurdistan. The company said it plans to begin production by the end of May on two wells that so far have shown production levels of 25,000 barrels of a day. “Kurdistan continues to show tremendous promise,” Perot, founder and chairman of Hillwood, said in a statement. He called the region “one of the last great onshore oil frontiers in the world.” See full story.