Tuesday, May 25, 2010

American Oil & Gas Update

Denver-based American Oil & Gas today announced flowback rates for its recently completed wells in Dunn and Williams Counties.

The company's Summerfield 15-15H well, located in T147N-R96W, Section 15, Dunn County produced 2,799 barrels of oil equivalent (2,178 barrels of oil and 3,729 Mcf of natural gas) from the Bakken formation during an early 24 hour flow back period. The 4,051 foot short lateral in the Bakken formation was fracture stimulated with 14 stages. American owns an approximate 33% working interest in this well.

American also reports that the Ron Viall 1-25H well, located in T156N-R98W Sections 24 and 25 in Williams County, that produced 2,844 barrels of oil equivalent from the Bakken formation during an early 24 hour flow back period, averaged approximately 1,748 BOE/D during its first seven production days. American owns a 95% working interest in this well.

Drilling operations continue with both of American's operated drilling rigs. Completion operations are expected to commence in late-June on the Bergstrom 15-23H well (95% WI) and in mid-July on the Johnson 15-35H well (82%WI). Both of these wells are planned for an approximate 9,600 foot lateral in the Bakken formation and fracture stimulation with a minimum of 30 stages

Source: American Oil & Gas press release

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