American Eagle Energy Corporation announces an operations update for the fourth quarter ending December 31, 2014, capital spending and production guidance, and estimated proved reserves for year-end 2014.
Operated Well Development
During the fourth quarter ended December 31, 2014, American Eagle added three gross (1.8 net) wells to production. As announced previously, the Donald 15-33S (Three Forks long lateral) well, the last of six wells developed under the Company's Farm-Out program, produced an average of 312 barrels of oil equivalent per day (BOEPD) during the first 30 days of production.
The Rick 13-31 (Three Forks short-lateral) well produced an average of 267 BOEPD during the first 30 days of production. The Huffman 15-34S (Three Forks long-lateral) well, in which the Company owns a 94% working interest ("WI"), was the second well stimulated by American Eagle using slickwater stimulation.
The Huffman well was brought on production in December 2014 and averaged 261 BOEPD during the first 30 days of production. The Huffman well has averaged 266 BOEPD during February 2015, which is similar to the flat, stable production behavior observed in the Eli 8-1E (Bakken long-lateral) well, which was the Company's initial slickwater completion.