Breitling Energy Corporation has closed the acquisition of a 35% overriding royalty interest in 53 proved producing wells and 15 drilling sites located in Dimmitt, Zavala, Frio, and LaSalle Counties, Texas. The interest was acquired from Gaston Kearby for wellbores operated by SN Operating. Total purchase price paid was $3.2 million.
"We are very pleased with this acquisition," said Chris Faulkner, Chief Executive Officer and President of Breitling Energy Corporation. "These properties are currently producing net royalties of over $59,000 per month. We are continuously looking for opportunities to acquire interests in currently producing properties."