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Breitling Energy Enters Farm-out For Permian Acreage

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February 20, 2014

Breitling Energy Corp. (OTC: BECC) entered a farm-out agreement with Steller Energy & Investment Corp. to explore and develop nearly 3,680 acres in Sterling County, Texas, the company said Feb. 20. Steller Energy had previously entered into an exploration and development agreement for the same acreage, with Clayton Williams Energy Inc. (NYSE: CWEI), Breitling noted.

Under the farm-out, Breitling will follow Steller Energy’s obligations, the company added, noting that it will earn a 100% working interest in each well drilled, along with surrounding acreage. If at least eight wells are ...

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