Print 
Former Breitling Energy CEO Chris Faulkner has been arrested on fraud charges relating to defrauding investors to the tune of $80 million, according to multiple reports.
This development comes nearly two years to the day after the SEC first began investigating Faulkner for misappropriation of funds. The most recent charges allege that he used investor funds to support a lavish lifestyle.
Faulkner coined himself the "Frack Master" and was known for his on-air appearances to discuss various industry-related topics.
Faulkner or his lawyer have not yet commented on the development.
More Legal / Lawsuit News
US Well Services Files Lawsuit Against Halliburton, Cimarex
U.S. Well Services, Inc. has filed a lawsuit for patent infringement against Halliburton Company and Cimarex Energy Co. The original complaint alleges infringement of multiple U.S. Well Services…
DC Court of Appeals Rules to Stay Dakota Access Shutdown
The potential shutdown of Energy Transfer LP's Dakota Access Pipeline has received another reprieve in the latest court ruling on the matter. The U.S. Court of Appeals for…
Large Swath of Oklahoma Land Falls Within Indian Reservation, US Supreme Court Rules
In a move that could complicate things for MidCon-focused operators and midstream companies, the US Supreme Court ruled that a large portion of land in Oklahoma is within…
EagleClaw Midstream Sues Energy Spectrum/CapRock
Blackstone backed-EagleClaw said it is suing its former owners of Caprock Midstream for failing to disclose tens of millions of dollars in liabilities during acquisition talks. EagleClaw in…
PE-Backed E&P Sues Continental for Failure to Close $200 Million Deal
Casillas Petroleum Resources Partners II has sued Continental Resources for breach of contract in failure to close its $200 million purchase and sale agreement that was signed between…
United States News
A Quiet Capital Pattern Is Forming in North American Upstream — and Almost No One Is Talking About It
A handful of recent transactions and capital raises point to a subtle pattern in North American upstream—one that is easy to miss because each event, on its own,…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
New E&P Scores Capital; Heading To the MidCon Region
Company Overview 406 Energy, LLC is a newly formed, Houston-based upstream oil & gas development company launched in October 2025 with an initial equity commitment from NGP Natural…
2025 Forecast : Dangerous Time Ahead
This is the time of year when we share a clear view into how we’re thinking about what to expect for drilling and completion activity in 2025. To…
Petrus Resources Ltd. First Quarter 2023 Results
Petrus Resources Ltd. announced first quarter 2023 results. Highlights Higher production – Production was up 54% from 7,379 boe/d(1) in the first quarter of 2022 to 11,385 boe/d…