Three Forks Archives - Oil & Gas 360

Post Tagged with: "Three Forks"

Crestwood Bolsters its Midstream Assets in the Bakken

By Tyler Losier, Energy Reporter, Oil & Gas 360 Commercial operations begin at the Bear Den II processing plant Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II processing plant in Watford City, North Dakota. The Bear Den II facility is a 120 million cubic feet per day cryogenic processing plant located adjacent to Crestwood’s 30 million cubic feet per day Bear Den I plant, which has been in service since 2018. Bear Den II, still in its start-up phase, is currently producing approximately 65 million cubic feet per day. Once it reaches full capacity, Crestwood expects the facility to be able to support 100% of the gas volumes f… Login or click here to subscribe Username or E-mail Password Remember Me Forgot Password

August 14, 2019 - 11:16 am — Closing Bell Story, Crude Oil News, Midstream, MLPs, Natural Gas News, Oil and Gas 360 Articles

Saltstone Capital Pens Scathing Letter to Abraxas Petroleum

By Tyler Losier, Energy Reporter, Oil & Gas 360 Saltstone Capital Management calls for special committee of the board to review strategic alternatives Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas Petroleum’s (stock ticker: AXAS) board of directors this week, calling for the creation of a special committee to explore strategic alternatives and help generate free cashflow for shareholders. Saltstone Capital, which owns 2,420,000 shares in Abraxas, initially laid out a four-point plan to improve the struggling petroleum producer back in July. These improvements included a call for a significant curtailment of capital expenditures by focusing solely on Permi… Login or click here to subscribe

August 9, 2019 - 1:47 pm — Closing Bell Story, Corporate Governance, Crude Oil News, Economy, Exploration and Production (E&P), Finance, Natural Gas News, Oil and Gas 360 Articles, Popular 3

QEP and Elliot Management Enter into Cooperation Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360 QEP Resources and Elliot Management will work together to appoint two new independent directors QEP Resources, Inc. (stock ticker: QEP), a Denver-based independent E&P, has entered into a cooperation agreement with affiliates of Elliot Management Corporation, which owns approximately 4.9% of QEP’s common stock. Under the terms of the agreement, QEP and Elliot will work together to collaboratively appoint two new independent directors to the QEP board. Both nominees are expected to have a strong operating background in unconventional development, and are expected to be seated no later than October of this year. An overview of QEP’s current asset portfolio (source: QEP Reso… Login or click here to subscribe

August 7, 2019 - 4:07 pm — Closing Bell Story, Corporate Governance, Crude Oil News, Exploration and Production (E&P), Natural Gas News, Oil and Gas 360 Articles, People

Caliber Midstream Makes North Dakota Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360 Caliber Midstream acquires North Dakota assets from American Midstream Partners Caliber Midstream Holdings L.P., headquartered in Denver, Colorado, has acquired crude oil gathering and transportation assets in McKenzie county, North Dakota from American Midstream Partners L.P. The acquired assets include a FERC-regulated system comprised of 47 miles worth of pipeline and related facilities, able to transport crude oil to the Tesoro High Plains pipeline and the Energy Transfer Dakota Access pipeline. With the addition of these acquisitions, Caliber now owns and operates 368 miles of pipeline across four service lines in McKenzie county, with 11 more miles on the way by year’s end… Login or click here to subscribe

August 6, 2019 - 5:29 pm — Acquisitions and Divestitures (A&D), Closing Bell Story, Crude Oil News, Midstream, Oil and Gas 360 Articles

Northern Oil and Gas Founder to Depart

By Tyler Losier, Energy Reporter, Oil & Gas 360 Michael Reger, Northern Oil and Gas president and founder, will leave the company amicably Northern Oil & Gas (stock ticker: NOG), a non-operating E&P, has announced that Michael Reger, its president, founder and chairman emeritus, will be departing the company amicably to pursue other opportunities. Reger, however, will continue to serve as Northern’s chairman emeritus. He will also be available to assist the company in an advisory role, as part of a consulting arrangement that will last through March of 2020. “Mr. Reger was the pioneering visionary of the public, non-operated business model in 2006, guided the company through periods of both rapid industry growth an… Login or click here to subscribe

August 2, 2019 - 4:27 pm — Closing Bell Story, Corporate Governance, Crude Oil News, Exploration and Production (E&P), Natural Gas News, Oil and Gas 360 Articles, People

Whiting Petroleum Names New CFO

By Tyler Losier, Energy Reporter, Oil & Gas 360 Michael J. Stevens steps down as CFO, Correne S. Loeffler selected as replacement Whiting Petroleum Corporation (stock ticker: WLL), a Denver-based independent E&P with an oil-focused asset base, has named Correne S. Loeffler as Chief Financial Officer, effective August 1. She will replace Michael J. Stevens, who is stepping down after an 18-year career with Whiting. Stevens was named CFO in 2005. Source: Callon Petroleum Loeffler, who has 14 years of financial experience in the oil and gas industry, was previously employed at Callon Petroleum as the company’s vice president, finance and treasurer. She held the position from April 2017 to July 2019. Loeffler also se… Login or click here to subscribe

July 17, 2019 - 1:00 pm — Closing Bell Story, Corporate Governance, Crude Oil News, Exploration and Production (E&P), Natural Gas News, Oil and Gas 360 Articles, People

Conference Spotlight: Williston Basin Presenters

By Tyler Losier, Energy Reporter, Oil & Gas 360 The Oil and Gas Conference’s Williston Basin presenters cumulatively produce 633,800 BOEPD From August 11-14, Oil & Gas 360’s parent company – EnerCom – will host its 24th annual The Oil and Gas Conference® at the Westin Downtown Hotel in Denver, Colorado. This event offers investment professionals the opportunity to hear oil and gas company’s executive management teams update investors on their operational and financial strategies, and listen to how energy companies are planning to navigate through the remainder of 2019 and 2020. Currently, there are six different companies presenting that hold assets in the Williston Basin: Continental Resources (stock ticker: CLR) Market Cap: $15,857,000,000 Enterprise Value: $21,693,000,000 Capital Expenditure: $2,915,000,000 TTM EBITA: $3,542,000,000 Total Production Rate: 298,200 BOEPD Reserves: 1,522,400,000 BOE Denbury Resources (stock ticker: DNR) Market Cap: $572,000,000 Enterprise Value: $3,134,000,000 Capital Expenditure: $346,000,000 TTM EBITA: $565,000,000 Total Production[Read More…]

July 17, 2019 - 7:00 am — Closing Bell Story, EnerCom Inc, Exploration and Production (E&P), Oil and Gas 360 Articles, TOGC24

Bakken Sale Nets $1.6 Billion Cash

Targa Resources Corp. Sells 45 Percent Interest in Bakken Assets for $1.6 Billion

February 19, 2019 - 6:10 am — Acquisitions and Divestitures (A&D), Closing Bell Story, Exploration and Production (E&P), Press Releases

PetroShale Doubles Production in the Bakken/Three Forks

Bakken-focused PetroShale Inc. (ticker: PSH) released financial and operating results for the year-ended December 31, 2017. Production averaged 2,121 BOEPD in the fourth quarter and 2017 production averaged 2,445 BOEPD, an increase of 50% over 2016. Financially, PetroShale reported 2017 revenues of $44.0 million (an increase of 89% over 2016) and 2017 EBITDA of $21.2 million (an increase of 123% over 2016). The operating netback in 2017 was $27.46/BOE and the company had capital expenditures of $67.1 million in 2017, which was mainly directed toward D&C and acquisitions. Increased DAPL takeaway capacity has narrowed the average differential between PetroShale’s realized crude oil price and WTI to an average of $2.46/barrel in the fourth quarter, down from $6.21/barrel in the fourth quarter of 2016 and $5.14/barrel in the third quarter of 2017. PetroShale recently completed four gross (3.7 net) operated wells, resulting in average production of approximately 5,300 BOEPD in March[Read More…]

April 23, 2018 - 2:28 pm — Acquisitions and Divestitures (A&D), Closing Bell Story, Earnings, Exploration and Production (E&P), Finance, Fracing, Oil and Gas 360 Articles

EOG Resources, Mountrail County, North Dakota.

North Dakota Produced 1.2 MMBOPD in Feb.; N.D. Gas Production Hit All Time High at 2.1 Bcf per Day

North Dakota’s State Industrial Commission has released new production numbers for 2018, covering the months of January and February. In January the state produced 36.6 MMbbls of oil, or 1.2 MMBOPD, and 64,226,435 Mcf, or 2,071,820 Mcf/day. February was another good month of production for the state, reaching an all-time high for natural gas production. The commission reported natural gas production of 58,863,453 Mcf, or 2,102,266 Mcf/day. As for oil, production decreased by around 4 MMbbls, down to 32.9 MMbbls, or 1.17 MMBOPD in February. North Dakota had approximately 14,327 producing wells in February, which is four more than January. The all-time high was a few months ago, in December 2017. The number of rigs has incrementally increased – January saw 56 rigs in action, with 57 in February and 59 in March. As of April 13, 2018, the state had 60 rigs. Commentary Crude oil take away capacity including[Read More…]

April 16, 2018 - 2:46 pm — Closing Bell Story, Exploration and Production (E&P), Fracing, Industry Insights, Oil and Gas 360 Articles

North Dakota Producing Almost 1.2 Million BOPD

North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD For November, the preliminary numbers show 35,847,594 total barrels, or 1,194,920 BOPD For reference, the all-time high was December 2014, at 1,227,483 BOPD November gas production hit a new record October saw 64,027,664 Mcf, or 2,065,409 Mcf/day November gas production hit a new all-time high, reaching 62,860,261 Mcf, or 2,095,342 Mcf/day Permitting October saw 147 drilling and two seismic permits November saw 119 drilling permits December had 86 drilling permits and 2 seismic permits, for reference, the all-time high was 370 drilling permits in October 2012 Rig count October had[Read More…]

January 17, 2018 - 5:52 pm — Closing Bell Story, Energy News, Oil and Gas 360 Articles

Whiting Petroleum Names Former Anadarko Onshore E&P Leader Brad Holly as CEO to Replace Retiring CEO James Volker

James Volker will serve as Whiting’s executive chairman through year end Beginning next Wednesday former Anadarko EVP U.S. Onshore E&P Bradley Holly will take the reins of Whiting Petroleum Corporation (NYSE: WLL), replacing outgoing Chairman, President and CEO James Volker who is retiring after a 34-year career at Whiting, having served as president and CEO since 2002 and who was instrumental in moving the company into its post as one of the largest Bakken/Three Forks oil producers. Holly will become president and CEO and a member of the board of directors, effective November 1, 2017. James Volker, aged 70, will assume the role of executive chairman of the Whiting board and will serve in that capacity until December 31, 2017. Volker will then serve as non-executive chairman until the 2018 annual meeting of stockholders, at which time Mr. Holly will be appointed chairman Whiting’s board. Retiring CEO James Volker William N. Hahne, Lead Independent[Read More…]

October 24, 2017 - 6:01 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles, People

Whiting Petroleum: Enhanced Completions Pay Off

Whiting Petroleum Corporation (ticker: WLL) is one of the largest oil producers in one of America’s leading oil producing regions—the Bakken-Three Forks play in the Williston basin. Whiting is among several large producers in the Bakken, including Continental Resources, Hess, XTO, Statoil and EOG Resources. Whiting controls 443,310 net acres in the oil productive sweet spots of the Williston basin, encompassing approximately 5,300 potential gross drilling locations. Whiting’s other significant oil producing assets are located in the eastern DJ Basin of Colorado, where it has 132,432 net acres and an estimated 5,400 potential gross drilling locations in the Niobrara A, B, C and Codell benches. Whiting’s DJ focus is on its Redtail assets in northern Colorado. Enhanced completions making a big impact Whiting is taking significant steps to increase oil production within its Williston assets through the use of new, enhanced completions methods. Whiting is a believer in gaining a thorough understanding[Read More…]

July 5, 2017 - 3:24 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles, TOGC 22

PetroShale’s First Operated Middle Bakken Well Near EOG Record-setter

PetroShale (ticker: PSH) holds multiple assets throughout the Bakken/Three Forks plays. The company is partnered with several Bakken operators and has 64,500 gross (4,136 net) acres. Across this acreage, the company holds 49 net potential drilling locations—representing approximately $450 million in drilling inventory, the company reported. PetroShale produced an average of 3,349 BOEPD during its first quarter of 2017. Its capital expenses during the first quarter were $1.945 million, all of which was spent in participating in the completion of 43 gross non-operated wells. Acquisition PetroShale announced an acquisition of land in its core South Berthold area. The acquisition was announced on June 5th, 2017, and PetroShale will pay $9.0 million for acreage that forms two separate drilling units. The company will be assuming a 92% working interest in the acreage, which currently produces approximately 90 BOEPD. Potential in PetroShale’s first operated well In PetroShale’s first operated well—the 8H well,[Read More…]

June 29, 2017 - 5:25 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles, TOGC 22

Northern Oil and Gas: Enhanced Completions Generate 13 MBOEPD

Northern anticipates more production growth in 2H 2017 Northern Oil and Gas, Inc. (ticker: NOG) reported total production of 1.2 million BOE for the first quarter, averaging 13,299 BOEPD. Northern’s business model is as a non-operator franchise in the Bakken and Three Forks plays in the Williston Basin of North Dakota and Montana. Northern operates under a capital allocation model that calls for the company to acquire non-operated positions in high quality acreage about to be drilled, that provide for high internal rates of return on capital and to partner with leading E&P operators with a successful track record in the Williston Basin. Northern’s GAAP net income for the first quarter of 2017 was $16.9 million. Adjusted net income for the quarter was a loss of $0.1 million. Adjusted EBITDA for the quarter was $29.6 million, the company reported. Interim CEO and CFO Tom Stoelk said, “Increased well productivity is being aided by the enhanced[Read More…]

May 8, 2017 - 5:55 pm — Borrowing Base, Closing Bell Story, Crude Oil News, Exploration and Production (E&P), Oil and Gas 360 Articles

North Dakota Production Falls in August, Drilling Increases

Department of Mineral Resources report shows production in North Dakota fell approximately 58.5 MBOEPD in August The slow rise in oil and gas prices has not been able to stop the continued decline of production in North Dakota, according to the Department of Mineral Resources. The department released its Director’s Cut for October, which covers production data from August, which showed both oil and natural gas production were down for the month. Crude oil production fell roughly 48.7 MBOPD in August from July, while natural gas production fell approximately 9.8 MBOEPD month-over-month, according to the report. Declining production came in spite of an increased number of producing wells and well permits, the DMR reported. Producing wells increased to 13,289 in August from 13,265, an all-time high, according to the report. Permitting in August increased to 99 drilling and 1 seismic from 86 drilling permits and 0 seismic in July. Permitting[Read More…]

October 13, 2016 - 4:50 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles

Whiting Petroleum – Day One Breakout Notes

Whiting Petroleum presents at EnerCom’s The Oil & Gas Conference® During Whiting’s breakout sessions, management was asked the following questions: For a well with high cumulative production in the first 90 days what is the average sand loading? Change in sand loading? How long does it take for changing sand loads to make their way into financial results? How much water is being used in current completions? What is spud to spud time? How does faster drilling impact the DUC’s, especially going into 2017? Would you do another JV in Niobrara similar to the one done in the Bakken? Can you speak to efforts to manage LOE’s on royalty trust properties? Do you plan to work on reservoir engineering and pressure management? Are there pressure declines from infill drilling in the Bakken? Are the Bakken differentials decreasing? Should there be asset sales expected in the rest of 2016 and 2017?[Read More…]

August 15, 2016 - 4:01 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles, TOGC21

Whiting Petroleum’s Deep Look at the Bakken-Three Forks Oil Play

“Whiting’s Wildcatters: Micro Scale, Macro Vision” – An Oil & Gas 360® Exclusive Video Report Whiting Petroleum Corporation’s (ticker: WLL) geoscience team has taken a macro-approach by taking a microscopic view of the way oil flows through the rocks in the Bakken-Three Forks oil play. The new knowledge that Whiting’s geoscientists are gaining from a large scale, high-tech project in its core lab has allowed the company to continue to improve well results. To see first-hand why Whiting Petroleum is an extraordinary company in energy, watch the Oil & Gas 360® special report “Whiting’s Wildcatters: Micro Scale, Macro Vision” – sponsored by FEI Company. In the 10-minute video report, you’ll go behind the scenes to see exactly how Whiting is using advanced imaging technology to guide the development of one of the most prolific oil plays in the United States. You can nominate a company for “Extraordinary Companies in Energy” Throughout 2016, Oil & Gas 360® will[Read More…]

February 25, 2016 - 4:28 pm — Exploration and Production (E&P), Videos

Whiting Petroleum’s Geoscientists are Helping Build a Smarter Oil Company: a Look Behind the Scenes at the Bakken-Three Forks Oil Play

“Whiting’s Wildcatters: Micro Scale, Macro Vision” – An Oil & Gas 360® Exclusive Video Report It’s a tough market for the oil companies, but Whiting Petroleum Corporation (ticker: WLL) has figured something out. While oil and gas companies across the planet are battling a commodities price environment in which a barrel of oil fetches 70% less than it did 18 months ago, Whiting has found and implemented a secret weapon that has changed the dynamic of how the largest Bakken-Three Forks producer is developing its assets. The new knowledge that Whiting’s geoscientists are gaining from a large scale, high tech project in its core lab has allowed the company to continue to lower its costs and increase its production. To see first-hand why Whiting Petroleum is an extraordinary company in energy, watch the Oil & Gas 360® special report “Whiting’s Wildcatters: Micro Scale, Macro Vision” – sponsored by FEI Company. In the[Read More…]

January 15, 2016 - 3:00 pm — Closing Bell Story, Exploration and Production (E&P), Oil and Gas 360 Articles, Videos

Northern Oil and Gas: Large Non-Operator in Bakken/Three Forks

Northern’s New Website Tells the “One Step Ahead of the Drill Bit” Story with Jumbo Graphics, Maps and Aerial Photography Northern Oil and Gas, Inc. (ticker: NOG), is an independent oil and gas producer that has one of the largest non-operated leasehold positions in the Williston Basin. Northern controls almost 185,000 net mineral acres in the heart of the Bakken and Three Forks oil plays in North Dakota and Montana. Highlights include: Acreage footprint of approximately 184,700 net mineral acres in the heart of the Bakken and Three Forks oil plays in North Dakota and Montana, as of September 30, 2014. Interests in approximately 2,500 gross Bakken/Three Forks oil wells in the Williston Basin. Producing an average of 16,450 barrels of oil per day, net during Q3’14. Proved reserves of 84.2 million barrels of oil equivalent at year-end 2013. 317% return on every $1 invested in F&D costs. Non-Operator Strategy As[Read More…]

January 12, 2015 - 3:29 pm — Exploration and Production (E&P), Oil and Gas 360 Articles

American Eagle Energy Increasing Working Interest in the Spyglass, Forecasts Year-Over-Year Production Growth of More Than 60%

American Eagle Energy Corporation (ticker: AMZG) is a Williston Basin focused E&P company engaged in the exploration and production of petroleum and natural gas in North America. American Eagle has developed 35 producing wells (16.3 net) in its Spyglass area targeting the Bakken and Three Forks formations. Seven gross wells (3.0 net) were drilled in Q1’14, as reported in AMZG’s quarterly earnings release on May 13, 2014. American Eagle posted quarterly sales of $12.5 million and adjusted EBITDA of $7.4 million – both slight decreases compared to Q4’13 as a result of the brutal winter in North Dakota. The respective totals have still increased by 64% and 52% on a year-over-year basis. Q1’14 yielded a net loss of roughly $1 million ($0.06 per share) but AMZG successfully boosted working interest in its focus area. Management said its PV-10 value of $383 million is 50% higher than its current enterprise value[Read More…]

May 16, 2014 - 4:37 pm — Earnings, Oil and Gas 360 Articles

Williston Basin Update: An Interview with Black Ridge Oil & Gas (ANFC)

Today’s Guest: Black Ridge Oil & Gas (ANFC) CEO Ken DeCubellis Ken DeCubellis joined Black Ridge Oil and Gas as Chief Executive Officer in November of 2011. Mr. DeCubellis brings over 20 years of executive experience in a broad range of energy industries including 10 years at Exxon Mobil Corp and most recently as President and CEO of Altra Inc, a venture capital backed biofuels company. Mr. DeCubellis also previously served as Chairman of KD Global Energy, Belize Ltd, a firm that provides upstream technical and geological services to petroleum lease holders in Belize. Mr. DeCubellis received an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University in 1996 and a Bachelor of Science Degree in Mechanical Engineering from Rensselaer Polytechnic Institute in 1990. [sam_ad id=”32″ codes=”true”]

December 16, 2013 - 7:00 am — Oil and Gas 360 Articles

Whiting Petroleum Ready to Accelerate in the Redtail, Reaches Record Discretionary Cash Flow in Third Quarter Earnings Release

Whiting Petroleum Corporation (ticker: WLL) is an independent oil and gas company that explores for, develops, acquires and produces crude oil, natural gas and natural gas liquids primarily in Williston Basin and Permian Basin regions of the United States. The Company’s largest projects are in the Bakken and Three Forks plays in North Dakota and its Enhanced Oil Recovery field in Texas. On October 23, 2013, Whiting Petroleum issued results for its Q3’13 earning release. Highlights of the release include: Production totals of 8.53 MMBOE, of which 87% was crude oil/natural gas liquids Discretionary cash flow at $450.5 million, a company record Promising signs from the Redtail project. Two recently completed wells are averaging a total of 944 BOEPD, and 899 potential gross drilling locations have been identified. WLL expects to add three more rigs by June 2014. Total acreage in the Redtail is 168,644 gross (119,978 net) acres. The[Read More…]

October 25, 2013 - 4:29 pm — Earnings, Mergers & Acquisitions, Offshore, Oil and Gas 360 Articles

Emerald Oil Successfully Producing From Second and Third Operated Wells

Emerald Oil, Inc. (ticker: EOX) is an oil weighted exploration and production company focused primarily on the development of its 54,000 net acre position in the Williston Basin of North Dakota and Montana. This 54,000 net acreage position comprises 23,500 net operated acres and 30,500 net non-operated acres. Recent Operational Results Since its merger with Voyager Oil & Gas back in July 2012, EOX has steadily transitioned from a non-operated model to an operated model. EOX reported its latest two Bakken wells, the Arsenal 1-17-20H and Caper 1-15-22H, recorded an average of 761 BOEPD over the first 30 days and 1,543 BOEPD over the first 11 days, respectively. These two wells make three total producing operated wells for EOX. More importantly, all three are producing above EOX’s 600 MBOE type curve. McAndrew Rudisill, Emerald’s Chief Executive Officer, said in the news release: “The results of our Arsenal well and[Read More…]

June 25, 2013 - 2:43 pm — Oil and Gas 360 Articles

QEP Resources, Inc. Provides Operational Update

QEP Resources, Inc. (ticker: QEP) is a leading independent natural gas and crude oil exploration and production company focused in two major regions: the Northern Region (primarily in the Rockies and the Williston Basin) and the Southern Region (primarily Oklahoma, Louisiana, and the Texas Panhandle) of the United States. QEP Resources also gathers, compresses, treats, processes and stores natural gas. On June 3, 2013, the company provided an update to operating results for the second quarter 2013. QEP has completed and turned to sales its first four-well pad on the recently acquired South Antelope property in the Williston Basin of North Dakota. The four wells had an average 24-hour gross initial production rate of 3,598 barrels of oil equivalent per day (Boepd) per well (3,929 Boepd post processing), including the first two QEP-operated Bakken Formation wells completed at South Antelope that had an average 24-hour initial production rate of 4,174 Boepd[Read More…]

June 4, 2013 - 1:49 am — Mergers & Acquisitions, Midstream, Oil and Gas 360 Articles

American Eagle Energy Provides Financial Results for First Quarter

American Eagle Energy Corporation (AMZG) is engaged in the exploration and production of petroleum and natural gas in North America . Currently, American Eagle is focused primarily on exploiting unconventional resource plays within the Bakken and Three Forks formations. The Company operated under the name Eternal Energy Corp. until December 2011 when it changed its name to American Eagle Energy Corporation upon its acquisition of American Eagle Energy Inc., another oil and gas company engaged in a similar business with which the Company shared certain properties and prospects. On May 21, 2013, the company provided first quarter 2013 results and an operations update. First Quarter 2013 Highlights Revenues from oil and gas sales for the period ended March 31, 2013 were $7,628,707 , an increase of 522% from the $1,225,579 reported for same period in 2012. Wells in the United States accounted for 95.2% of first quarter 2013 sales. Net income[Read More…]

May 21, 2013 - 12:39 pm — Oil and Gas 360 Articles