Breitling Energy forms strategic alliance with Patriot Energy

Breitling Energy Corp. (OTCBB: BECC) has formed a new strategic relationship with Patriot Energy Inc. to expand Breitling Energy's Asset Management division. 

As part of its business model, Breitling Energy's Oil and Gas Management sub-division has existing industry partners that syndicate or de-risk royalty or working interests to a network of third-party industry partners or institutional investors. This sub-division generates ongoing revenue and increases reserve value through management fees, carried interests in the properties acquired and/or prospect fees.

Under an administrative services agreement, Breitling Energy will provide administrative services and access to certain of Breitling's oil and gas prospects for acquisitions of working interests and/or royalty interests. In exchange for these services, Patriot will pay Breitling Energy $300,000 per month for administrative services, $250,000 per prospect fee, and up to a 25% carried interest in each prospect acquired by Patriot.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...