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American Eagle Energy Corporation Message Board

richardclovis 70 posts  |  Last Activity: Dec 22, 2014 11:07 AM Member since: Mar 9, 2013
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  • richardclovis by richardclovis Dec 22, 2014 11:07 AM Flag

    Earthstone completes Oak Valley combo, prompting Buy call at Wunderlich

    Earthstone Energy (ESTE +1.7%) says stockholders last Friday approved all proposals concerning the completion of its combination with privately held Oak Valley Resources and acquisition of additional acreage and assets in the Eagle Ford play.
    Wunderlich initiates ESTE wth a Buy rating and $24 price target, citing the re-emergence of the management team and investment group from Oak Valley that previously has had such strong success with GeoResources, and a strong financial position to drive solid returns going forward.

  • Reply to

    Merger/Acquistion?

    by freshbone1 Dec 20, 2014 8:46 PM
    richardclovis richardclovis Dec 20, 2014 9:44 PM Flag

    Earthstone website...Press Releases of May 15th and October 17th..

  • richardclovis richardclovis Dec 19, 2014 6:42 PM Flag

    Looks like it was approved...13D/A filed...
    Flatonia Holdings, LLC

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
    2,957,288 shares of Common Stock

  • richardclovis by richardclovis Dec 18, 2014 9:55 AM Flag

    Baby step forward..

    VANCOUVER, BRITISH COLUMBIA / December 18, 2014 / Anfield Resources Inc. (TSX.V: ARY; OTCQB: ANLDF) (Frankfurt: 0AD) (“Anfield” or “the Company”) is very pleased to welcome Mr. Jim Rasmussen to its Board of Directors. Mr. Rasmussen is a geologist with over 40 years of experience gained while working in all stages of the mining process, ranging from exploration to mine development and operation, in both the uranium and other resource industries.

    Mr. Rasmussen’s expertise in the uranium industry began while working on both sediment-hosted and breccia pipe uranium projects with Energy Fuels Nuclear, Inc. in 1977, where he managed an exploration team that located and developed resources exceeding 20 million pounds of U3O8. Most recently, Mr. Rasmussen served as the Manager of Exploration for Uranium One Americas, where he executed and oversaw the evaluation, exploration and development of underground and surface mineable uranium deposits. In that role, he developed and executed exploration plans, prepared technical reports, and calculated resource and reserve of projects included in corporate “Life of Mine” planning. As a result of his work with both Uranium One and Energy Fuels Nuclear, he has direct, hands-on experience with the assets that are the subject of the Uranium One-Anfield transaction announced on August 18, 2014.

    Mr. Rasmussen’s exploration experience includes serving as a general manager for a well-established exploration service company, where he evaluated both base and precious metal deposits in the western U.S., and as a contract geologist for ASARCO where he evaluated sediment-hosted, detachment fault and acid-sulfate type gold deposits, and participated in the evaluation and development of a +250,000 ounce gold deposit in central Arizona. Mr. Rasmussen has also operated an underground gold mine development project in Honduras, and has worked on mining project evaluations in Panama and Peru.

    Anfield CEO Corey Dias stated: “We are extremely pleased to have Jim Rasmussen join the Board of Directors. With the anticipated acquisition of the Shootaring Mill, Jim’s appointment to the board will be a great benefit to the Company. His in-depth knowledge of uranium deposits on the Colorado Plateau, including the assets that are the subject of the Uranium One transaction, as well as his years of geologic, managerial, and operational experience in the mining industry, will be invaluable in propelling the Company towards its goal of becoming a uranium producer.”

    Anfield is also pleased to announce that Mr. Roy Fuller will be joining the Company’s management team as Vice President of Legal and Regulatory Affairs. In connection therewith, he will be relinquishing his position as a Director of the Company. Mr. Fuller is an attorney with a background in geology focusing on environmental law and issues involving permitting and compliance. He has extensive experience working with mining operations ranging from exploration-stage through production.

    Mr. Fuller earned a Bachelors of Science in Geology from Brigham Young University, a Master’s of Science in Geological Sciences from the University of Texas, and a Juris Doctorate from the University of Utah. Mr. Fuller has a broad base of experience in the natural resources sector which he gained as an intern while in law school for the U.S. Department of the Interior, Office of the Solicitor, as an attorney in private practice, and as in-house counsel for an emerging natural resources company. During his time at a large Phoenix law firm, he was involved in the representation of a diverse group of resource companies including emerging market exploration companies, alternative energy developers, and large-scale mining companies. He has provided legal counsel and overseen permitting for a variety of projects in the western United States, Chile, and Mexico. Mr. Fuller’s public company experience includes serving on Anfield’s Board of Directors and as Executive Secretary for Continental Resources Group Inc.

    Anfield CEO Corey Dias stated: “We are extremely pleased to have Roy Fuller joining Anfield’s management team. As we move forward with licensing and permitting of Anfield’s various projects, his expertise in environmental law and permitting will be instrumental in leading the charge towards production.”

  • Reply to

    Beeler # 6H

    by bcfbubba Dec 18, 2014 7:57 AM
    richardclovis richardclovis Dec 18, 2014 8:37 AM Flag

    Initially a very good well...

    Beeler #6H..Zavala..Crimson
    API #33065
    RRC #772143
    Location..6.5 miles NW of Big Wells
    Spud February 10 2014
    24 hour initial rate..1,185 BOE/D 91% Oil
    30 day rate..883 BOE/D 83% OIL
    RRC Prod..Oil/Brls...Gas/MCF
    Mar.....19,372 Oil..17,653 Gas
    Apr.....15,808 Oil..47,820 gas

    Unfortunately it's now lumped in with the Combined Beeler Lease since May ...so no way to determine it's decline rate..

    Beeler Buda Combined Production
    #2H, #3H, #4H, #5H ST, #6H, #7H & #8H
    RRC #17577
    RRC Prod..Oil/Brls....Gas/MCF
    Apr...30,523 Oil..105,969 Gas
    May...24,524 Oil..105,233 Gas
    June..17,973 Oil...84,920 Gas
    July..19,069 Oil...64,325 Gas
    Aug...14,937 Oil...81,398 Gas
    Sept...7,926 Oil...79,630 Gas
    Oct....5,492 Oil...53,980 Gas

  • richardclovis by richardclovis Dec 15, 2014 8:50 AM Flag

    Excerpt...

    U.S. Energy Corp. Announces Appointment of President and Chief Operating Officer
    Announces $8.2 Million 2015 Oil & Gas Capital Expenditure Budget
    Reduces Debt by 25%
    RIVERTON, Wyo., Dec. 15, 2014 (GLOBE NEWSWIRE) -- U.S. Energy Corp. (Nasdaq:USEG) (the "Company"), today announced the appointment of Mr. David Veltri as President and Chief Operating Officer ("COO") of the Company, effective January 1, 2015. In addition, the Company announced the approval by its Board of Directors of an $8.2 million 2015 oil & gas capital expenditures ("CAPEX") budget and announced the reduction of its debt by 25%, from $8 million to $6 million.
    Mr. David Veltri -- President and COO
    Prior to joining U.S. Energy Corp., Mr. Veltri was the Chief Operating Officer of Denver, Colorado based Emerald Oil, Inc. While at Emerald, Mr. Veltri managed all aspects of oil and gas operations and supporting activities, including oversight of a three rig drilling program and field operations from well spud to sales, evaluation of acquisition targets including both producing properties and undeveloped leases, and was integral in converting Emerald from a non-operated position into an operator in North Dakota during his tenure.

  • richardclovis by richardclovis Dec 13, 2014 7:20 PM Flag

    Sep Sweet Crude Price = $74.85/barrel
    Oct Sweet Crude Price = $68.94/barrel
    Nov Sweet Crude Price = $60.61/barrel
    Today Sweet Crude Price = $41.75/barrel

    Sep Permitting: 261 drilling and 2 seismic
    Oct Permitting: 328 drilling and 1 seismic
    Nov Permitting: 235 drilling and 1 seismic

    Sep rig count 193
    Oct rig count 191
    Nov rig count 188
    Today’s rig count is 183

    Comments:
    The drilling rig count dropped 2 from September to October, an additional 3 from
    October to November, and has since fallen 5 more from November to today. The number
    of well completions decreased from 193(final) in September to 134(preliminary) in
    October. Three significant forces are driving the slow-down: oil price, flaring reduction,
    and oil conditioning. Several operators have reported postponing completion work to
    achieve the NDIC gas capture goals. There were no major precipitation events, but there
    were 9 days with wind speeds in excess of 35 mph (too high for completion work).

    The drillers outpaced completion crews in October. At the end of October there were
    about 650 wells waiting on completion services, an increase of 40.

    Crude oil take away capacity is expected to remain adequate as long as rail deliveries to
    coastal refineries keep growing.

    Rig count in the Williston Basin is set to fall rapidly during the first quarter of 2015.
    Utilization rate for rigs capable of 20,000+ feet is currently about 90%, and for shallow
    well rigs (7,000 feet or less) about 60%.

    Drilling permit activity peaked in October as operators worked on their summer
    programs, planned locations for next winter, and adjusted capital budgets.

    US natural gas storage is now 10% below the five-year average indicating slowly increasing prices in the future. North Dakota shallow gas exploration could be economic at future gas prices.

    The price of natural gas delivered to Northern Border at Watford City is down $0.76 to $2.98/MCF. This results in a current oil to gas price ratio of 14 to 1. The percentage of gas flared dropped to 22%. The Tioga gas plant remained below 70% of full capacity due to delayed expansion of gas gathering from south of Lake Sakakawea.

    The October capture percentage was 78% with the daily volume of gas flared from Sep to Oct
    decreasing 32.8 MMCFD.

  • richardclovis by richardclovis Dec 13, 2014 7:08 PM Flag

    Production down with less downtime in Oct...still only 3 wells completed since Feb.
    Month..Wells..Oil.....Days...Per Day
    Jan......48...354881....896....396
    Feb.....52...308327...1021....302
    Mar......52...315702...1088....290
    Apr.......53...304140...1086....280
    May......53...300247...1047....286
    Jun......55...286969...1164....238
    Jul.......55...223384.....940.....237
    Aug.....55...238816......966....247
    Sep.....55...308004...1287....239
    Oct......55...270572...1293....209

  • Reply to

    Bruce Weaver #2H October

    by richardclovis Nov 26, 2014 11:58 AM
    richardclovis richardclovis Nov 28, 2014 5:13 PM Flag

    Close...

    Q2 2014 Acquisition . In May 2014, the Company acquired 33% of a private South Texas based oil and gas company's (the "Seller") interest in approximately 12,100 gross (3,384 net) acres in Dimmit County, Texas. The acreage consists of 4,020 gross (1,181 net) acres of primary leasehold acreage and 8,080 gross (2,203 net) acres of farm-in acreage, to be earned through a continuous drilling program. The farm-in acreage has an initial two well commitment and a 12.5% working interest carry for the leaseholder (the "Farmor") in the first 10 wells. After 100% payout of all costs for the first 10 wells that are drilled under the farm-in program, the Farmor will back in for its 12.5% retained working interest in the prospect. The Seller also retained a 25% working interest back-in after 115% of project payout has been received by the Company. The Company paid $3.9 million to enter into the transaction, which included leasehold and farm-in acquisition costs as well as our proportionate share of drilling costs for the initial test well in the prospect.

    Two gross (0.67 net) wells were drilled and completed on the acquired acreage during the nine months ended September 30, 2014. One additional well (0.33 net) was in progress at September 30, 2014. Our net investment in this acreage and wells through September 30, 2014 was $7.8 million.

  • richardclovis by richardclovis Nov 26, 2014 11:58 AM Flag

    Bruce Weaver #2H Well..Zavala..WCS Oil & Gas
    API #33109
    RRC #778097
    Location..10.1 miles SE of Crystal City
    Spud June 6 2014
    Initial production rate of 894 BOE on a 22/64th choke
    30 day rate 1047 BOE/D (57% Oil)
    RRC Prod..Oil/Brls...Gas/MCF
    July......6,919 Oil............0 Gas (Hooking up)(Partial Month)
    Aug...13,339 Oil..33,882 Gas
    Sept..18,214 Oil..32,388 Gas
    Oct....14,344 Oil..27,100 Gas

    Still no production report for the Bruce Weaver #1RE....although completion report is dated September 11 2014....

  • richardclovis richardclovis Nov 21, 2014 10:20 AM Flag

    miner
    Nice work with the chart...
    Fruitless to offer commentary here with all the noise....but that will go away as oil rebounds..
    Keep the faith..Rich

  • richardclovis by richardclovis Nov 15, 2014 9:51 AM Flag

    Production stable to down slightly with less downtime in September...still only 3 wells completed since Feb.
    Month..Wells..Oil.....Days...Per Day
    Jan......48...354881....896....396
    Feb.....52...308327...1021....302
    Mar......52...315702...1088....290
    Apr.......53...304140...1086....280
    May......53...300247...1047....286
    Jun......55...286969...1164....238
    Jul.......55...223384.....940.....237
    Aug.....55...238816......966....247
    Sep.....55...308004...1287....239

  • richardclovis by richardclovis Nov 14, 2014 4:46 PM Flag

    Aug Sweet Crude Price = $78.46/barrel
    Sep Sweet Crude Price = $74.50/barrel
    Oct Sweet Crude Price = $68.94/barrel
    Today Sweet Crude Price = $58.75/barrel
    WTI Trigger price is at $77.18 today. The 2014 calendar year extraction tax trigger price is $52.06. Extraction tax exemptions are triggered after 5 months below that price.

    The drilling rig count was up two from August to September, then dropped four September to October and has since fallen five more from October to today. The number of well completions decreased from 272 in August to 176 in September. The primary cause is the focus on flaring reduction. Several operators have reported postponing completion work to achieve the NDIC gas capture goals. There were no major precipitation events, but there were 5 days with wind speeds in excess of 35 mph (too high for completion work).

    The drillers and completion crews pretty much kept pace in September. At the end of September there were about 610 wells waiting on completion services, an increase of 10.
    Crude oil take away capacity is expected to remain adequate as long as rail deliveries to coastal refineries keep growing.

    Rig count in the Williston Basin is no longer increasing. Utilization rate for rigs capable of 20,000+ feet remains above 90%, and for shallow well rigs (7,000 feet or less) about 60%.

    Drilling permit activity plateaued as operators worked on their summer programs and planned locations for next winter.

    US natural gas storage is now 7% below the five-year average indicating slowly increasing prices in the future. North Dakota shallow gas exploration could be economic at future gas prices. As you are aware there is some exploration underway in Emmons County. The first well will be on confidential status until 12/23/14.

    The price of natural gas delivered to Northern Border at Watford City is up $0.29 to $3.74/MCF. This results in a current oil to gas price ratio of 16 to 1. The percentage of gas flared dropped to 24%. The Tioga gas plant remained below 65% of full capacity due to delayed expansion of gas gathering from south of Lake Sakakawea. The

    September capture percentage was 76% with the daily volume of gas flared from August to September decreasing 23.3 MMCFD. The historical high flared percent was 36% in 09/2011.

  • richardclovis by richardclovis Nov 14, 2014 2:43 PM Flag

    September completions....producing well info out from NDIC

    Rich

  • richardclovis by richardclovis Nov 14, 2014 2:38 PM Flag

    Aug Sweet Crude Price = $78.46/barrel
    Sep Sweet Crude Price = $74.50/barrel
    Oct Sweet Crude Price = $68.94/barrel
    Today Sweet Crude Price = $58.75/barrel
    WTI Trigger price is at $77.18 today. The 2014 calendar year extraction tax trigger price is $52.06. Extraction tax exemptions are triggered after 5 months below that price.

    The drilling rig count was up two from August to September, then dropped four September to October and has since fallen five more from October to today. The number of well completions decreased from 272 in August to 176 in September. The primary cause is the focus on flaring reduction. Several operators have reported postponing completion work to achieve the NDIC gas capture goals. There were no major precipitation events, but there were 5 days with wind speeds in excess of 35 mph (too high for completion work).

    The drillers and completion crews pretty much kept pace in September. At the end of September there were about 610 wells waiting on completion services, an increase of 10.
    Crude oil take away capacity is expected to remain adequate as long as rail deliveries to coastal refineries keep growing.

    Rig count in the Williston Basin is no longer increasing. Utilization rate for rigs capable of 20,000+ feet remains above 90%, and for shallow well rigs (7,000 feet or less) about 60%.

    Drilling permit activity plateaued as operators worked on their summer programs and planned locations for next winter.

    US natural gas storage is now 7% below the five-year average indicating slowly increasing prices in the future. North Dakota shallow gas exploration could be economic at future gas prices. As you are aware there is some exploration underway in Emmons County. The first well will be on confidential status until 12/23/14.

    The price of natural gas delivered to Northern Border at Watford City is up $0.29 to $3.74/MCF. This results in a current oil to gas price ratio of 16 to 1. The percentage of gas flared dropped to 24%. The Tioga gas plant remained below 65% of full capacity due to delayed expansion of gas gathering from south of Lake Sakakawea. The

    September capture percentage was 76% with the daily volume of gas flared from August to September decreasing 23.3 MMCFD. The historical high flared percent was 36% in 09/2011.

  • richardclovis by richardclovis Nov 12, 2014 12:06 PM Flag

    DENVER, CO -- (Marketwired) -- 11/12/14 -- EARTHSTONE ENERGY, INC. (ESTE) (NYSE MKT: ESTE) reported net income of $1,114,000, or $0.64 per diluted share, on revenue of $5,193,000 for the second quarter of fiscal 2015, ended September 30, 2014 ("2014"). This compares to net income of $1,224,000, or $0.72 per diluted share, on revenue of $4,672,000 for the second quarter of fiscal 2014, ended September 30, 2013 ("2013"). For the first half of fiscal year 2015, the Company reported net income of $2,111,000, or $1.22 per diluted share, on revenue of $10,431,000, compared to net income of $1,917,000, or $1.11 per diluted share, on revenue of $8,267,000 for the six months ended September 30, 2013. For the 2014 quarter, total revenue increased $521,000 or 11% and net income decreased ($110,000) or (9%), respectively, from 2013. Increases in revenue were due to higher oil and gas sales volumes which were partially offset by lower oil prices in 2014 relative to 2013. The decrease in net income was due to both higher oil and gas production expense and higher depletion expense in 2014 relative to 2013. Other factors which contributed to our quarterly results are disclosed in the Company's most recent Form 10-Q.

    "We are pleased with the results of our second quarter," commented Ray Singleton, President of Earthstone. "It was a strong quarter, despite a nine percent (-9%) decline in oil prices. Notably, BOE (barrels, oil equivalent) sales were up over 17% and our year-to-date EBITDA increased 15% over the comparable prior year period. While net income did decline relative to the comparable quarter last year, when compared to the preceding first quarter for the current fiscal year, net income was actually up nearly 12%. During the last two quarters our drilling and completion operations have been focused in Indian Hill Field with Continental Resources, resulting in a decrease in our capital expenditures. However, we have recently received a number of notices of upcoming wells from both Statoil in the Banks Field and from Conoco/Phillips in Camel Butte Field. Based on this we expect capital expenditures to increase in both of these areas. Given all this, if oil prices will hold at current levels, we anticipate a good, but maybe not great, second half of the year."

  • Reply to

    Insider buys continue

    by investrdiebroke Nov 11, 2014 1:29 PM
    richardclovis richardclovis Nov 11, 2014 5:17 PM Flag

    SEC filing Form 4..

    Common Stock 11/7/2014 A 35000 A $3.06 177382 D

  • richardclovis by richardclovis Nov 8, 2014 8:20 AM Flag

    November 6

    #29916 - EMERALD OIL, INC, DAGNY TAGGART 3-21-16H, SWSE 21-147N-103W, MCKENZIE CO., 325' FSL and 2415' FEL, DEVELOPMENT, MONDAK, 20623', 9-5/8 inch , 2182' Ground, API #33-053-06436

    #29917 - EMERALD OIL, INC, DAGNY TAGGART 4-21-16H, SWSE 21-147N-103W, MCKENZIE CO., 325' FSL and 2365' FEL, DEVELOPMENT, MONDAK, 20425', 9-5/8 inch , 2183' Ground, API #33-053-06437

    #29918 - EMERALD OIL, INC, GREG MARMALARD FEDERAL 3-28-33H, SWSE 21-147N-103W, MCKENZIE
    CO., 225' FSL and 2415' FEL, DEVELOPMENT, MONDAK, 21046', 9-5/8 inch , 2182' Ground, API #33-053-06438

  • Reply to

    Ban on Exports

    by mikeinwestsac Nov 4, 2014 10:51 PM
    richardclovis richardclovis Nov 7, 2014 11:39 AM Flag

    "soon"...only dependent on the price of oil as today indicates...and not company fundamentals..as with numerous other battered E & P issues...
    All the best
    Rich

  • Reply to

    Ban on Exports

    by mikeinwestsac Nov 4, 2014 10:51 PM
    richardclovis richardclovis Nov 5, 2014 8:28 AM Flag

    mike
    The scorn on this board has ruled....but the savvy traders that have quietly been accumulating shares as the price drops due primarily to market related pressure...will be greatly rewarded soon as that pressure bottoms and starts to reverse...
    EOX still faces challenges...but IMO had a very good quarter, and is particularly well positioned for the coming quarters....providing excellent returns for traders and the long suffering long term holders..
    Rich

AMZG
0.73+0.11(+17.76%)Dec 26 4:00 PMEST

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