American Eagle suspends oil drilling in Bakken for 2015

American Eagle Energy Corp., Denver, has suspended its 2015 drilling budget and does not anticipate resuming drilling operations until crude oil prices improve. American Eagle operates in the Bakken and Three Forks formations in North Dakota.

“The company continues to be focused on capital discipline and maintaining liquidity,” a Dec. 31, 2014, news release said. After drilling the Huffman 15-34S well in November 2014, American Eagle released the drilling rig.

American Eagle expects to conduct completion operations in the first quarter on two gross (1.9 net) wells (Byron 4-4 and Shelley Lynn 4-4N) were drilled during the 2014 fourth quarter. The company anticipates that its average production for the fourth quarter will be 2,600-2,700 boe/d.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...