Erickson Air - Crane Incorporated (NASDAQ:EAC)
Industry: Industrial Goods

Listed 6 Consecutive Market Days. On List as of 04/19/2012 Through 04/27/2012

Encore Acquisition Company is an independent energy company engaged in the acquisition, development, exploitation, exploration, and production of onshore North American oil and natural gas reserves. The Company's properties are located in four areas, the Cedar Creek Anticline (CCA) in the Williston Basin of Montana and North Dakota; the Permian Basin of West Texas and Southeastern New Mexico; the Mid-Continent area of Arkoma and Anadarko Basins of Oklahoma, the North Louisiana Salt Basin, the East Texas Basin, and the Barnett Shale of north Texas, and the Rockies, which includes non-CCA assets in the Williston and Powder River Basins of Montana and North Dakota, and the Paradox Basin of south-eastern Utah. During the year ended December 31, 2005, the Company's total estimated proved reserves were 148.4 million barrels (MMbls) of oil and 283.9 billion cubic feet (Bcf). On a barrel of oil equivalent basis, the proved reserves were 196 million barrels of oil equivalent (mmboe). On November 30, 2005, Encore Acquisition Company acquired oil and natural gas producing properties, which are located in the Levelland-Slaughter, Howard Glasscock, Nolley-McFarland, and Hutex fields in West Texas and the Oakdale, Calumet, and Rush Springs fields in western Oklahoma. On October 14, 2005, the Company acquired Crusader Energy Corporation (Crusader), which is an independent oil and natural gas company. In 2005, the Company drilled 160 gross operated productive wells and participated in drilling another 116 gross non-operated productive wells. Cedar Creek Anticline Properties The CCA is a major structural feature of the Williston Basin in southeastern Montana and northwestern North Dakota. Primary producing reservoirs are the Red River, Stony Mountain, Interlake, and Lodgepole formations at depths of between 7,000 feet and 9,000 feet. During 2005, the average daily production from CCA properties was 13,902 barrels of oil equivalent per day (boepd). As of December 31, 2005, CCA represents 60% of the total proved reserves. In 2005, this property's net production stood at 5,074 mmboe, which is 49% of the total net production. Permian Basin Properties Permian Basin properties include 17 operated fields, including East Cowden Grayburg Unit, Furhman-Mascho, Crockett County, Sand Hills, Howard Glasscock, Nolley, Deep Rock and others, and seven non-operated fields. Production from the central portion of the Permian Basin comes from multiple reservoirs including the Grayburg, San Andres, Glorietta, Clearfork, Wolfcamp, and Pennsylvanian zones. Production from the southern portion of the Permian Basin comes mainly from the Canyon and Strawn Formations with multiple pay intervals. During 2005, the Company drilled 80 gross wells primarily in the Sand Hills, Furhman-Mascho and Crockett County fields. During the same period, this property accounted for 21% of the net production, which is 2,182 mmboe. Mid-Continent Properties Encore Acquisition Company owns various interests, including operated, non-operated, royalty and mineral interests, on properties located in the Anadarko Basin of western Oklahoma and the Arkoma Basin of eastern Oklahoma, and eastern Arkansas. These properties produce primarily natural gas, and to a lesser extent oil, from various horizons. The Company also has operated interests in properties producing from the Barnett Shale in north Texas, and interests in properties in the Hugoton Basin in Kansas. The North Louisiana Salt Basin and East Texas Basin properties consist of operated working interests, non-operated working interests, and undeveloped leases of Elm Grove and Overton. Elm Grove Field is located in Bossier Parish and Louisiana. The Overton Field assets are in the same area as Elm Grove Field. The properties are producing primarily from multiple sandstone reservoirs in the Travis Peak and Lower Cotton Valley formations at depths ranging between 8,000 and 11,500 feet. During 2005, the Company drilled 72 gross wells in the Elm Grove and Overton fields. During the same period, this property accounted

Current Quote*
Last: $0.145
Change: 0.000
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As Of: 11/21 21:26 ET
*Quotes delayed by 20min.

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