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August 31, 2015 4:58 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Breitling Energy Corporation

Company Overview

Breitling Energy Corporation is engaged in the acquisition, development, exploration, and production of oil and gas properties in the United States. The company holds onshore oil and gas working interests, and royalty interests in the proven basins of Permian Basin in Texas; the Bakken/Three Forks formations located in North Dakota; and the Mississippi Lime and Hunton/Woodford/Cleveland formations located in Oklahoma. As of December 31, 2013, it owned approximately 1,426 oil and gas properties consisting of approximately 6,000 oil and gas wells, 999 proved locations, 291 probable locations, and 136 possible locations in 7 states and 84 counties; and had reserves of approximately 498 thousand...

1910 Pacific Avenue

Suite 12000

Dallas, TX 75201

United States

Founded in 2000

10 Employees



Key Executives for Breitling Energy Corporation

Co-Founder, Chairman, Chief Executive Officer and President
Age: 38
Compensation as of Fiscal Year 2013.

Breitling Energy Corporation Key Developments

Breitling Energy Corporation Announces the Resignation of Jon Huberman as Board of Director

On August 11, 2015, Breitling Energy Corporation announced that Mr. Jon Huberman notified the Board of Directors of the company that, due to new work requirements resulting from several acquisitions made by his investment firm, he has resigned from the company's Board of directors, effective from August 14, 2015.

Breitling Energy Announces New 14-Well Development Program

Breitling Energy Corporation announced a new non-operated 35% participation in a 14-well developmental drilling program in West Texas, with the first spudding on August 5, 2015. Phase One has seven wells planned; six in Kent County and one in Knox County. The total acreage is approximately 8,500 non-contiguous acres between the two counties, leased throughout the past two years. The prospects, which target oil with associated gas, are located on the eastern shelf in the upper Permian Basin, in a proven area with a long history of successful production. The major payzones between the 14 wells could include the Ellenburger, Mississippian, Bend Conglomerate, Strawn Sand, Frye Sand, and the Tannehill formations. Subsurface mapping, seismic and geochemical analysis were used to pinpoint the drilling locations. The first well, Barker Trust #1, will be drilled vertically to approximately 5,000 feet in Kent County over a two-week period, with the Tannehill sand as the primary oil objective. The other six wells of Phase One should be drilled consecutively, with three to five days in-between to move the rig. Drilling will employ approximately a dozen total rig workers throughout the duration of the first seven wells, in addition to completion crews for logging and cementing. Phase Two, consisting of seven additional wells, will be initiated after the completion of Phase One. The acreage offers the ability to offset successful wells with two or three additional locations. There could be as many as 35 or 40 total wells across the acreage, should the initial phases be successful as expected.

Breitling Energy Seeks Acquisitions

Breitling Energy Corporation (OTCPK:BECC) is seeking acquisitions. Breitling's management team continues analyzing and meeting regularly with potential joint venture or acquisition candidates.

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