December 22, 2014 10:04 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Eagle Energy Acquisitions LP

Company Overview

Eagle Energy Acquisitions LP owns and operates oil and gas properties. The company was incorporated in 2010 and is based in the United States. Eagle Energy Acquisitions LP operates as a subsidiary of Eagle Energy Trust.

333 Clay Street

Suite 3005

Houston, TX 77002

United States

Founded in 2010

Key Executives for Eagle Energy Acquisitions LP

Chief Operating Officer
Chief Executive Officer of Eagle Energy Trust and President of Eagle Energy Trust
Age: 51
Compensation as of Fiscal Year 2014.

Eagle Energy Acquisitions LP Key Developments

Eagle Energy Acquisitions LP Provides Production Guidance for the Year 2013 and Capital Budget for the Year 2014

Eagle Energy Acquisitions LP. provided production guidance for the year 2013 and capital budget for the year 2014. The company remained on track to achieve its full year 2013 average production guidance of 2,900 to 3,100 barrels of oil per day (boe/d) and capital expenditures of approximately USD 29.2 million. The company's Board of Directors has also approved a 2014 capital budget of USD 28 million; USD 3.8 million of which will be directed towards land acquisition and seismic evaluation of future opportunities in Eagle's areas of operations, with the remaining USD 24.2 million base investment (down 17% year over year) used to replace declines and grow 2014 average annual working interest production and funds flow by approximately 10% over 2013. The company anticipates average 2014 working interest production in the range of 3,250 boe/d to 3,450 boe/d (up 10% year over year), consisting of 85% oil, 9% NGLs and 6% gas. Funds flow from operations in 2014 is expected to be approximately USD 49.1 million. Average working interest production of 3,350 boe/d in 2014.

Eagle Energy Acquisitions Announces $26.3 Million Acquisition of Producing Oil Assets in Texas; Announces Increase to Credit Facility

Eagle Energy Trust announced that its operating subsidiary, Eagle Energy Acquisitions LP ("Eagle"), has entered into a binding agreement with an undisclosed party to acquire producing petroleum properties in Hardeman County, Texas (the "Assets") for a purchase price of $26,250,000 in cash, subject to closing adjustments. Eagle expects to add approximately 300 barrels of oil equivalent ("boe") per day to its existing production. The Acquisition is expected to close on or about November 25, 2013, with an effective date of October 1, 2013. The company also announced that the syndicate of lenders for Eagle's credit facility have completed their annual mid-year review and have approved a $9 million increase to the borrowing base under the credit facility to $70 million and an extension of its term to May 2015. In addition, upon the successful closing of the Acquisition, the lenders have approved a further increase in Eagle's credit facility to $90 million consisting of a $80 million revolving facility and a new one year non-revolving credit facility of $10 million.

Eagle Energy Acquisitions LP Names Wayne Wisniewski as Chief Operating Officer

Eagle Energy Trust announced the appointment of Wayne Wisniewski as Chief Operating Officer of its U.S. subsidiary, Eagle Energy Acquisitions LP. Mr. Wisniewski has held the position of Vice President, Operations at Eagle since September 2012. Prior to that, Wayne was a senior engineering and operations manager at a major international oil company.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 13, 2014
Petroleum Properties in the Permian Basin, Located near Midland, Texas
 

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