- American Eagle Energy (NYSEMKT:AMZG) has suspended its drilling operations, citing the oversupply of crude oil.
- The company likely won’t resume drilling until oil prices improve, but will complete two wells it drilled in the current quarter in Q1 2015.
- For the quarter ending Wednesday, AMZG cut its production outlook to 2,600-2,700/bbl a day, down from 2,700-3,000 barrels.