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January 10, 2014
07:04 EDTAMZGAmerican Eagle Energy provides operation update
American Eagle Energy announces an update to operations and guidance for production and operated well development in its Spyglass Project area in northwestern Divide County, North Dakota. During the quarter ended December 31, 2013, American Eagle added four operated wells to production in its Spyglass Project area consisting of two field extension wells and two infill wells. The extension wells included one Three Forks producer and one Middle Bakken producer and the two infill wells are producing from the Middle Bakken formation. Two of the wells are part of the Farm-Out Agreement in which the company's JV partner pays 100% of the company's working interest share of well development costs for up to six wells, all of which will be operated by American Eagle. The company does not have a net revenue interest in each well's production until the JV Partner has recouped 112% of development costs on a per-well basis, after which 30% of the company's initial well bore interests revert back to it, including a 30% net revenue interest. The other two wells are part of the Carry Agreement in which the JV partner pays 100% of the company's working interest share of well development costs for up to five wells, all of which will be operated by American Eagle. The company initially receives 50% of its net revenue interest in each well's production over the first two years or until the JV partner has recouped 112% of its development costs on a per-well basis, after which 100% of the company's initial well bore interests revert back to it. The two Farm-Out wells were brought onto production during November and the two Carry wells were brought onto production during October. Since American Eagle receives no net revenue interest on the Farm-Out wells and only receives half of its net revenue interest on the Carry wells, contribution from these wells to Q4 net production was minimal. However, the wells are beneficial to American Eagle's future growth by extending the proved producing area in both the Three Forks and Middle Bakken formations to the west of the company's current producing areas in Spyglass.
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September 24, 2014
07:06 EDTAMZGAmerican Eagle Energy sees Q3 production 2,100 BOEPD-2,200 BOEPD
American Eagle's goal for 2014 was to exit the year at or above 3,000 BOEPD. The company believes that goal could be achieved prior to the end of the year. Depending upon timing of well completions scheduled for the fourth quarter of 2014, the exit rate for 2014 should range between 2,700 to over 3,000 BOEPD. The new exit rate range guidance is the result of the company's decision to focus on controlling costs, to the extent possible, by increasing pad development and avoiding stimulation of wells during the coldest part of winter. The early onset of severe weather could impact the rate by limiting completions in December. USG Midstream estimates its gas line to the Tioga processing facility will be operational in October. If so, the company could achieve full gas sales from connected operated wells during Q4.
07:04 EDTAMZGAmerican Eagle Energy announces operational update
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September 22, 2014
08:36 EDTAMZGAmerican Eagle Energy price target lowered to $6 from $8 at SunTrust
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