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
TheStreet Open House

American Eagle Energy Provides Spyglass Operations Update

Stocks in this article: AMZG

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 16,380.41 +263.17 1.63%
S&P 500 1,886.76 +24.00 1.29%
NASDAQ 4,258.4380 +41.0480 0.97%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs