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Atlantic Rim

The Atlantic Rim encompasses over 270,000 acres in Carbon County, Wyoming, in an area that averages about 10 miles in width and runs nearly 40 miles from north to south from Rawlins, Wyoming, to just east of Baggs, Wyoming. Double Eagle has interests in 99,500 gross (46,700 net) acres in the Atlantic Rim. During 2012, total net natural gas sales from all of our producing properties in the Atlantic Rim was 8.0 Bcfe, representing 76% of our 2012 natural gas equivalent sales volume.

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Catalina Unit

The Catalina Unit is the federal unit that Double Eagle operates and encompasses 21,725 acres.  As of December 31, 2012, we operated 83 CBM wells in the Catalina Unit which averaged approximately 15.6 MMcf/day net to our interest during 2012.  The Company's working interest is 85.5% in 71 wells and 100% in 12 wells. The gas content of the coal is high, and permeability is excellent. We have the potential to drill and operate over 180 additional wells in the Unit, resulting in approximately 101 net wells to the Company.

Spy Glass Hill Unit

The Spy Glass Hill Unit was established in 2011 and encompasses approximately 113,300 acres (9,900 net to the Company).  Although the former Doty Mountain and Sun Dog units were dissolved upon establishment of the Spy Glass Hill Unit, the existing participating area's ("PA"s) and our working interest therein remain intact.  The Spy Glass Hill Unit had total production of 2.2 Bcf of gas (net) to the Company in 2012.  Our working interest is 26.73% in 60 production wells in the Doty Mountain PA and 28.59% in 114 production wells in the Sun Dog PA   The unit is operated by Warren Resources, Inc.

Operation Highlights

  • Double Eagle has invested over $100 million since 2007 into development of its Atlantic Rim properties
  • Catalina Unit
    • Increased from 14 producing CBM wells at the end of 2006 to 83 producing CBM wells at the end of 2012
    • Have over 180 potential drilling sites remaining in the Catalina Unit.
    • Net production has nearly quadrupled to 5.7 Bcf in 2012 from 1.5 Bcf in 2007 when development began.
  • Spy Glass Hill Unit
    • Net production of 2.2 Bcf in 2012, up 17% from 2011.
    • Current working interest in Doty Mountain PA is 26.73% in 60 production wells.
    • Current working interest in Sun Dog PA is 28.59% in 114 production wells.
    • Over 350 future drilling locations.

Stock Performance

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