Breitling Royalties Announces Availability Of $20 Million B-R Jericho Oil & Gas Royalty Income Property
IRVING, Texas, June 15, 2012 /PRNewswire/ -- Breitling Royalties Corporation, an energy firm specializing in acquiring and managing royalty properties with proven production histories and significant upside potential, announced today the availability of its latest oil & gas royalty income property, the B-R Jericho.
The $20 million B-R Jericho royalty property consists of over 13,500 gross acres of Mineral Interests, Royalty Interest and Overriding Royalty Interests producing monthly cash flow in excess of $175,000 per month. The B-R Jericho property encompasses 501 oil and gas wells spread throughout 15 fields, 156 leases that span ten counties and parishes in Texas and Louisiana. The property's monthly production consists of 97% oil and 3% natural gas and includes all the behind the pipe assets, deeper formations and future expansion rights of the leases.
"There have been 16 new permits filed and 6 wells completed on the BR-Jericho in the last quarter," said Chris Faulkner, chief executive officer of Breitling. Faulkner added, "The upside potential of the BR-Jericho is tremendous and will be a great lift on the aggregate yield to any investor's portfolio."
For more information on this and other activities of the Company, see the Breitling Royalties website at http://www.breitlingroyalties.comBreitling Royalties acquires and manages oil and gas royalty properties all over the United States. About Breitling Royalties Corporation Founded in 2007, Breitling Royalties is engaged in the acquisition of high-quality, long reserve life portfolios of oil and gas royalties and packages these deeded interests for accredited investors. Breitling Royalties maintains a staff of landmen, geoscientists, geologists, and petroleum engineers to evaluate the income potential and expected reserve life of royalty prospects. Breitling Royalties is a consistent source for quality, energy-based replacement property for real estate investors seeking to complete a 1031 Exchange and for accredited investors seeking cash flow.
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