Yesterday, American Eagle Energy Inc. announced that they, along with their 50 percent working interest partner, Eternal Energy Corp., have completed the mechanical workover of the Hardy 2D7-9-3D2-16-4-21 well. The location of this well is in southeastern Saskatchewan. The Company has commenced recovery of the fluids used during the workover efforts. They currently anticipate returning the well to production within the next week.
The partners have also submitted a horizontal well license application. This is for an offset location in the targeted drilling area. They hope to begin drilling a second horizontal well during the fourth quarter of 2010.
Mr. Dick Findley, American Eagle Energy Inc.’s President and CEO, stated, ” “The completion of the re-work effort on our newly acquired Hardy well is a significant milestone for our Company, as it represents our Company’s first operations effort. We are hopeful that the well can be returned to its historical production levels, which will provide early cash flow and serve as a springboard for future drilling efforts in the area.”
The Company also announced the hiring of Tom Lantz as their Vice President of Operations, effective June 7, 2010. Mr. Lantz is a professional engineer. He has more than 30 years of experience in oil and gas reservoir and operations engineering. Mr. Lantz served in a similar capacity for Rover Resources Inc., prior to joining American Eagle Energy. Rover Resources Inc. is a wholly owned subsidiary of Ryland Oil Corporation.
Mr. Lantz, from 1998 through 2006, worked as an Asset Manager for Halliburton Energy Services. During his time there, he led the efforts for numerous highly successful development programs for Halliburton’s clients. This included the initial development of the Elm Coulee oil field. He served as U.S. Operations Manager for Enerplus Resources after they acquired a major interest in the Elm Coulee Field from Lyco Oil Corporation.
In addition, Mr. Lantz has engaged in oil and gas exploration and development in the Rocky Mountain Region, the North Sea, and the Gulf of Mexico with Phillips Petroleum and Arco Oil and Gas. He earned his Bachelor’s of Science Degree in Chemical Engineering from the University of Southern California. Furthermore, he did graduate studies in Mechanical Engineering at Colorado State University.
Mr. Dick Findley stated, “American Eagle sees Tom Lantz as a tremendous addition to our organization. Tom brings a wealth of operational and reservoir knowledge and experience, specific to the geographic regions that we are interested in exploring and developing. Through his in-depth exposure to developing appropriate completion technologies in various unconventional oil and gas reservoirs, Tom brings an important perspective to our team that will enable American Eagle to effectively exploit the unconventional reservoirs that we are targeting. We are thrilled to have him as a member of our team.”
Headquartered in Billings, Montana, American Eagle Energy Inc. is an oil and gas company. They engage in the exploration of petroleum and natural gas. They were incorporated in Nevada on March 14, 2007 under the name Yellow Hill Energy Inc., to engage in the acquisition, exploration, and development of natural resource properties.
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