Breitling Energy Corp

CIK:0001229089|SEC Filings

Organization and Nature of Operations (Details) (USD $)	1 Months Ended
Organization and Nature of Operations (Details) (USD $)	Dec. 09, 2013	Sep. 30, 2014	Dec. 31, 2013
Organization and Nature of Operations (Textual)
Common Stock, shares issued	461,863,084	499,083,626	498,883,626
Common stock shares issued, percentage of stock outstanding	92.50%
Common stock par value	$ 0.001	$ 0.001	$ 0.001

Consolidated and Combined Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities
Net income	$ 6,793,779	$ 942,791
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	38,993	11,113
Accretion of asset retirement obligation	10,577	2,294
Additions to ARO charged to turnkey drilling costs	15,242	(11,000)
Net (gain) loss from equity investment	(59,301)	11,000
Increase (decrease) in cash attributable to changes in operating assets and liabilities:
Other current assets	898	(8,150)
Accounts payable and accrued liabilities	(692,287)	(559,823)
Joint interest revenues payable	(151,153)	39,414
Deferred revenues	(4,609,041)	1,541,955
Net cash provided by operating activities	1,337,130	1,969,594
Cash flows from investing activities
Acquisition of other property and equipment	(33,290)	(121,725)
Investment in equity investment		(10,500)
Net cash used in investing activities	(33,290)	(132,225)
Cash flows from financing activities
Proceeds from the exercise of warrants	20,000
Net increase in cash	1,323,840	1,837,369
Cash, beginning of period	606,715	4,668,839
Cash, end of period	$ 1,930,555	$ 6,506,208

Consolidated and Combined Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets
Cash	$ 1,930,555	$ 606,715
Other		898
Total current assets	1,930,555	607,613
Other assets
Equity investment	62,862	3,561
Other property and equipment, net of depreciation	158,495	153,621
Total other assets	221,357	157,182
Total assets	2,151,912	764,795
Current liabilities
Accounts payable and accrued liabilities	2,427,440	3,119,727
Joint interest revenues payable		151,153
Deferred revenue from third party contracts		4,609,041
Current asset retirement obligations	24,770	16,495
Total current liabilities	2,452,210	7,896,416
Commitments and contingencies
Long-term liabilities
Asset retirement obligations	38,386	20,842
Stockholders' deficit
Common stock, $.001 par value; 500,000,000 shares authorized; 499,083,626 and 498,883,626 shares issued and outstanding, respectively	499,084	498,884
Additional paid in capital	19,800
Accumulated deficit	(857,568)	(7,651,347)
Total stockholders' deficit	(338,684)	(7,152,463)
Total liabilities and stockholders' deficit	$ 2,151,912	$ 764,795