Final Partnership Closed under Aztec X O&G Drilling Program
Aztec closed, on August 31, the final partnership under its Aztec X Oil & Gas Drilling Program. The partnership Aztec XC Oil & Gas LP closed with approximately $5,140,000 of funding and is focused on shallow drilling for oil in Texas. Aztec's wholly-owned subsidiary, Aztec Energy, LLC, will retain thirty percent (30%) ownership and will act as the Managing General Partner. Aztec Drilling & Operating, LLC, another wholly-owned subsidiary, will serve as the Partnership's drilling contractor and operator.
"Aztec is right on our projected growth targets, and with this final partnership we have raised a total of $12,730,500 under the Aztec X Program. We are highly appreciative that the Broker Dealer community has become more and more aware of Aztec's ability to create successful, low risk drilling programs with significant benefits to investors. We also project that Aztec will have very nice results for 2010 and will continue to grow and become more well known within the national Broker Dealer community whenever it may offer its Programs," stated Waylan R. Johnson, President, Aztec Oil & Gas, Inc.