The partnership, ‘Aztec XC Oil & Gas LP’, closed with approximately $5.1m of funding and is focused on shallow drilling for oil in Texas.
Aztec’s wholly-owned subsidiary, Aztec Energy will retain 30% ownership and will act as the managing general partner.
Aztec Drilling & Operating, another wholly-owned subsidiary, will serve as the partnership’s drilling contractor and operator.
Aztec Oil & Gas president Waylan Johnson said that Aztec is right on its projected growth targets, and with this final partnership it has raised a total of $12,730,500 under the Aztec X Program.
