Aztec Closes XI Drilling Program
Aztec O&G announced it closed, on August 30, 2011, a partnership under its Aztec XI Oil & Gas Drilling Program. The limited partnership, "Aztec XI-D Oil & Gas LP", closed with approximately $1.6 million of funding and is focused on drilling shallow wells for oil in Texas. The Aztec XI Oil & Gas Drilling Program is now totally closed. Aztec's wholly-owned subsidiary, Aztec Energy, LLC, will hold a thirty percent (30%) ownership interest in the Partnership by contribution, and will act as the Managing General Partner. Aztec Drilling & Operating, LLC, another wholly-owned Aztec subsidiary, will serve as the Partnership's drilling contractor and operator.
"Aztec has been fortunate to experience significant growth over this past year, and raised a total of $19,273,750 under its XI Program. In addition to others, the Broker Dealer community has continued to support Aztec and we look forward to continuing our business relationship with each firm," stated Waylan R. Johnson, President, Aztec Oil & Gas, Inc.