Aztec Oil & Gas Completes Funding of Newest Drilling Partnership

Aztec Oil & Gas has closed and completed funding of its newest drilling limited partnership VIII B, with approximately $2 million dollars. The multi-well partnership, which will focus on oil well drilling in Texas, is expected to commence drilling immediately.

Aztec Oil & Gas, Inc., through its wholly-owned subsidiary, Aztec Energy, LLC, will retain 30% (thirty percent) ownership and will act as the Managing General Partner. Another wholly-owned subsidiary, Aztec Drilling & Operating, LLC, will serve as the Partnership's drilling company and operator.

"Our recent VIII A partnership accomplished four very nice Frio formation wells and achieved a 100% drilling success rate. The new VIII B partnership will focus on drilling shallow oil wells in Texas. We anticipate considerably more wells being drilled in this VIII B partnership, and estimate a high success rate in this program as well. We believe the timing could not be better for our investors," stated Waylan R. Johnson, President, Aztec Oil & Gas, Inc.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Director Downhole Tool Engineering
Expertise: Electrical Engineering|Engineering Manager|MWD / LWD
Location: Houston, TX
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours