Miller Energy Resources, Inc. says that its wholly owned subsidiary, Cook Inlet Energy (CIE) has entered a contract for the Patterson owned, Rig-191 to drill the Sword #1 well. The Company will mobilize the rig from the nearby Tyonek Village area at the end of May and transport it to an existing pad near its West McArthur River (WMR) production facility. The 1500 HP rig is constructed with a 750,000 lb. rated mast and is capable of drilling a maximum depth of 24,000 feet.

"We are excited to have secured this rig and for the potential that the Sword #1 well holds for the Company," said David Hall, CEO of CIE. "We will be drilling into the adjacent fault block to the prolific West McArthur River Unit, right in the middle of proven oil fields."

Tags: Miller Energy Resources