American Eagle Energy Corporation announced December 31, 2013 estimated proved reserves, reaffirmed first quarter 2014 production guidance and issued an operational update.
December 31, 2013 Estimated Proved Reserves
American Eagle's estimated proved reserves at December 31, 2013 were 13.6 MMBoe with an associated Pre-Tax PV-10 value of approximately $308.1 million.
This represents a 135% increase over the Company's estimated proved reserves at December 31, 2012 of 5.8 MMBoe and a 160% increase over the associated Pre-Tax PV-10 value of $118.5 million.
Reserves for the period ended December 31, 2013 were engineered by Ryder Scott and reserves for the period ended December 31, 2012 were engineered by MHA Petroleum Consultants LLC.