Breitling Energy Corporation has been named as a 2014 Deal of the Year by Acquisition International for its merger with Bering Exploration Inc.
After 18 months of intense negotiations, the two companies entered into an Asset Purchase Agreement where Bering issued 461.9 million shares of stock to Breitling in exchange for all of the oil and gas working interests of the former Breitling Oil and Gas. In completion of the reverse merger, the Bering board resigned and was replaced with the Breitling board; similarly the Bering management team resigned and was replaced with the Breitling management team.
The headquarters was relocated to Dallas, Texas. The new company emerged as Breitling Energy Corporation, trading under the stock symbol BECC on the over the counter bulletin board exchange.