This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Eagle Energy Provides Spyglass Operations Update

LITTLETON, Colo., Aug. 28, 2012 /PRNewswire/ -- American Eagle Energy Corporation (OTCQX: AMZG; "American Eagle" or the "Company") is pleased to provide an operations update and further well results for its Spyglass Project in Divide County, North Dakota.  A high level of development work in the Middle Bakken and Three Forks Formations has continued with at least four operators, American Eagle, SM Energy, Samson Resources and Crescent Point, each having at least one rig active in the area. 

The recent activity has continued to expand the development to the west and south, as well as initiating infill drilling on several spacing units.  SM Energy has obtained regulatory approval to drill up to four Three Forks wells per spacing unit and has just released production information on two of their first 3 infill wells to their highly successful Torgeson 14-19HN well, bordering the Spyglass outline to the south.  These two infill wells have reported 30 day averages of 380 and 626 barrels of oil per day compared with the 505 barrels of oil per day results of the initial well in the same spacing unit.  Samson Resources has received approval to drill up to seven wells per spacing unit with four in the Three Forks and three targeting the Middle Bakken.  They have begun infill operations in their Nomad spacing unit as noted below.  American Eagle's recently announced expansion of its financing agreement (8/21/2012) will lead to its contracting a second drilling rig to begin infill drilling work on its operated Spyglass spacing units in September.    

Brad Colby, American Eagle's president stated, "We are extremely pleased with the progress of both our operated and non-operated programs in Spyglass.  The well costs and production results continue to show good improvement thus providing further encouragement for us to keep moving ahead aggressively with our development plans for the field."

Specific operational results for wells in which American Eagle owns a working interest include: 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs