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.
Recommended Reading
Targa Expects Another Major Permian Pipeline Project This Year
2024-05-03 - Targa Resources says different projects are falling in place for gas capacity expansion
US Appeals Court Upholds FERC Approvals for Gas Pipeline Expansion
2024-05-02 - A unanimous three-judge panel of the U.S. Circuit Court of Appeals for the D.C. Circuit held that the Federal Energy Regulatory Commission was right to determine the Evangeline Pass Expansion project is functionally separate from four related gas infrastructure developments.
Enterprise Targets FID for SPOT Project by End of 2024
2024-05-01 - Enterprise Products Partners’ co-CEO disputed capex figures reported in the media regarding its Sea Port Oil Export Terminal.
US Reforms Green Law to Speed Clean Energy, Infrastructure Permits
2024-04-30 - The reforms are the second and final phase of adjustments to the National Environmental Policy Act, or NEPA, by the Biden administration.
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.