Pages

Wednesday, December 31, 2014

American Eagle: We're Outta Here -- December 31, 2014; Fatburger To Cuba

Operators, including American Eagle, who operate in the Bakken are tracked here

From Yahoo!In-Play:

American Eagle Energy announces an operations update and production guidance; has suspended its 2015 operated drilling budget and does not anticipate resuming drilling operations until crude oil prices improve:
  • The Company recently monetized all of its crude oil hedge positions for December 2014 through December 2015, generating proceeds of $13 mln. The hedges represented approximately 414,000 barrels of oil at an average price of $89.59 per barrel. Proceeds will be used to improve American Eagle's liquidity position.
  • The co notes it has no outstanding indebtedness on its senior secured revolving credit facility that had an initial borrowing base of up to $60 mln as of August 27, 2014. Effective December 24, 2014, the borrowing base was reduced to zero.
  • The co notes that given current crude oil prices, American Eagle has suspended its 2015 operated drilling budget and does not anticipate resuming drilling operations until crude oil prices improve.
  •  The Company expects to conduct completion operations in the first quarter of 2015 on two gross (1.9 net) wells (Byron 4-4 and Shelley Lynn 4-4N) that were drilled during the fourth quarter ended December 31, 2014. These operations are estimated to require a capital expenditure of ~$4.5 mln in 2015.
More at The Wall Street Journal

See MarketWatch at WSJ.

Again, remember, this is not an investment site. Do not make any investment, financial, or relationship decisions based on what you read here. If this is important to you, go to the source. Data from the Bakken is always dynamic and what you are reading at the moment may be much different over the next 12 hours. But in this case, probably not. 

*********************************
Big News Of The Day: Los-Angeles Based Fatburger To Cuba

Fusion.net is reporting: 
For the past half-deacde (sic), Los Angeles-based Fatburger has aggressively expanded into locations that don’t exactly scream America-friendly: Saudi Arabia, Pakistan, and soon Libya. Their overseas push is based on a finding that, given rising global obesity rates, may not seem too surprising: People around the world love American burgers, shakes and fries. 
Memo to self: while in LA, get a photograph of Fatburger. 

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.