Resource Energy Can-Am LLC (“Resource”) has successfully closed on the American Eagle Energy Corp. (“AEEC”) Assets in Divide County, ND (the “Assets”) with an effective date of November 1, 2015 through the chapter 11 section 363 bankruptcy process. Resource is a private equity backed company with a focus on domestic production. The management team of Resource has decades of combined experience in the successful development in over 15 resource basins in the United States and internationally with high degree of integrity. Resource intends to operate the assets in a safe and reliable manner consistent with our past operations.
The Assets, as all oil and gas properties, are in a continuous state of decline. Oil and gas prices over the past year have contributed to uncertainty and declining value over the past year. These factors work to influence the declining nature of royalty checks over time.
Royalty owners will be receiving your first production checks from Resource in late January for November production. Subsequently, AEEC is responsible for check distributions in the months of November and December for September and October production, respectively. Any inquiries for royalties expected through the end of 2015 should be directed to AEEC at http://www.americaneagleenergy.com/
For any post effective date inquiries, please email Land@Resource-Energy-US.com