Littleton, CO-based American Eagle Energy Corp. expanded its existing carry agreement to accelerate drilling. Last May the company entered into a six-well carry agreement; the amended agreement extends the terms of the financing to an additional four wells, all of which will be drilled in the Bakken or Three Forks zones of its Spyglass Project. “The expansion of our existing carry agreement…allows us to continue aggressively pursuing our development program within the Spyglass Property while minimizing our capital outlay,” said President Brad Colby. The expansion of the scope of the agreement allows American Eagle to contract a second drilling rig to begin drilling infill locations on the Spyglass property. American Eagle expects a second Nabors Drilling rig to arrive by the middle of September and anticipates drilling and completing a total of 12 gross wells (4.2 net) with the two rigs by the end of 2012, including all 10 wells covered by the amended carry agreement.
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Articles from Expanded
Louisiana Sinkhole Expands, Swallows Workboat
A sinkhole in a Louisiana bayou that caused four pipelines to be shut in this month expanded again on Thursday morning, swallowing more land as workers continue to assemble a rig to drill an exploratory well at the site.
Transco Launches Open Season for Mobile Bay South III
Williams Partners LP’s Transcontinental Gas Pipe Line (Transco) is holding an open season through Aug. 23 for capacity on an expanded interstate natural gas pipeline system in Alabama, a link that is expected to come online during the fall of 2014.
EIA: Shale Gas Unproved Reserves Numbers Unchanged From January
The U.S. Energy Information Administration (EIA) said it estimates that shale formations in the United States contain 483 Tcf of unproved technically recoverable natural gas and 33.2 billion bbl of unproved technically recoverable tight oil.
North America Energy Creating Shift Worldwide
Natural gas and oil liquids growth that’s expanded in North America is expected to expand globally, with U.S. energy imports continuing to decline. The reordering of the fossil fuel mix in North America will prompt a rethinking of domestic energy policy, according to the authors of a study expected later this summer.
House GOP Panel Votes to Expand Offshore Leasing Plan
Republicans on the House Natural Resources Committee last Wednesday voted out expanded offshore leasing legislation, which would nearly double the number of lease sales now proposed for the 2012-2017 period and opens up new areas — the Mid-Atlantic and Southern California — to exploration.
House GOP Panel Votes to Expand Offshore Leasing for 2012-15
Republicans on the House Natural Resources Committee Wednesday voted out expanded offshore leasing legislation, which nearly doubles the number of lease sales now proposed for the 2012-2017 period and opens up new areas — the Mid-Atlantic and Southern California — to exploration.
Colorado Operators Shut 50 Wells Facing Fire Threats
As the Pine Ridge fire in Colorado expanded Friday, up to 50 natural gas wells were shut in by three operators along the Western Slope in the Piceance Basin. In one case, wells were shut before operators were asked to do so by the federal Bureau of Land Management (BLM), according to the Colorado Oil and Gas Association (COGA).
Dozens of Piceance Wells Threatened by Colorado Wildfire
As the Pine Ridge fire in Colorado expanded Friday, up to 50 natural gas wells were shut in by three operators along the Western Slope in the Piceance Basin. In one case, wells were shut before operators were asked to do so by the federal Bureau of Land Management (BLM), according to the Colorado Oil and Gas Association (COGA).
Colorado Operators Shutter 50 Gas Wells Facing Fire Threats
As the Pine Ridge fire in Colorado expanded Friday, up to 50 natural gas wells were shut in by operators along the Western Slope in the Piceance Basin. In one case, wells were shuttered before operators were asked to do so by the Bureau of Land Management (BLM), according to the Colorado Oil and Gas Association (COGA).
