American Eagle Energy Acquires Additional Working Interest in Spyglass Properties for $9.1 Million

American Eagle Energy Corporation (OTCQX:AMZG) announced that they have acquired additional working interest in several of their operated properties in the Spyglass area from SM Energy Company for $9.1 million.

As quoted in the press release:

The four spacing units affected by the transaction are located in T163N-R101W and T164N – R101W, Divide County, North Dakota and include 6 producing wells with the acquired working interests ranging from approximately 5% to over 34%.  Total gross production from these wells is approximately 1975 BOPD, with the associated working interest volumes equaling approximately 375 BOPD.

American Eagle’s President, Brad Colby, said:

These two acquisitions of producing properties in North Dakota will help bolster American Eagle’s position in the area and enable it to extend the remarkable growth we have experienced in 2012 into the upcoming year.

To view the whole press release, click here.