Miller Energy Resources, Inc. (NYSE:MILL) announced that it has brought a new gas well, RU-4A, into production in Alaska.
As quoted in the press release:
The RU-4A work-over consisted of re-completing the well to access a behind pipe gas accumulation in the Lower Tyonek gas sands at a measured depth of approximately 9,200 feet that previously tested at 1.4 MMscf/d rate by prior operator. Based on log analysis and well test results, the average net pay is 11 feet with an aerial extent of 130 acres. Initial estimates of recoverable reserves by the company’s geologists are in excess of 1.0 billion cubic feet of gas (Bcf).
Miller’s CEO, David Hall, Scott M. Boruf, said:
The redevelopment of RU-4A is another milestone for Miller as gas shortages continue to be problematic in the area. Miller has now successfully reworked three of the previously producing wells from the Redoubt Shoals field.
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