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.