Miller Energy Resources' RU-7 Well Producing 250 Barrels of Oil Per Day
Thursday July 7, 2011, 8:00 am
HUNTSVILLE, Tenn., July 7, 2011 /PRNewswire/ -- Miller Energy Resources, Inc. ("Miller"), (NYSE:MILL - News) announced today that its wholly owned subsidiary, Cook Inlet Energy, led by David Hall, has successfully completed the rework of the RU-7 crude oil well from its offshore Redoubt Shoals Field. The work-over consisted of replacing an electrical submersible pump and wellbore optimization. The RU-7 well has demonstrated an initial production of 250 barrels of oil per day (BOD), which more than doubled the projected flow rate of 120 BOD. The RU-7 is the second of a successful two oil well rework program executed by a CUDD hydraulic snubbing unit now being demobilized from the Osprey Platform. In June, Miller announced that it had successfully reworked the RU-1 well and that it had contracted for the custom construction of a rig for placement later this year on the Osprey Platform to further facilitate drilling and to effectively perform routine maintenance.
"I am pleased with the successful rework of the RU-1 and RU-7 wells and the restart of the Osprey platform and Kustatan production facility. I want to thank our team in Alaska for consistently exceeding expectations," said Scott M. Boruff, Miller CEO. "This is only scratching the surface of the enormous potential that the Redoubt Shoals Field holds. Once our new rig is in place we have aggressive drilling plans for the Osprey platform, which will significantly increase oil production for Miller in Alaska."
http://finance.yahoo.com/news/Miller-Energy-Resources-RU7-prnews-336447879.html?x=0&.v=1
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