Breitling Energy Corp. (OTC: BECC) detailed its second-quarter 2014 financial results, the company said Aug. 13. The quarter ended June 30, the company added.
During the quarter, there was $841,000 of net income on $16 million of revenues, higher than second-quarter 2013’s net income of $216,000 on $5.5 million of revenues, the company said. The net income increased by $625,000, the company said.
In the first half of this year, working capital improved by $5.7 million from a deficit of $7.3 million on Dec. 31, to total $237,799 at the end of the quarter, the company said. Cash flow from operations partly contributed to the improved amount, the company added.
Third parties’ “demand” for “royalty interests in lower-risk oil and gas properties” partly influenced the quarter’s financial results, the company said.
Dallas-based Breitling Energy Corp. explores and develops onshore domestic oil and natural gas properties.
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