Miller Energy Resources, Inc. has successfully drilled and completed the Company's first two new gas wells at its North Fork Unit and brought both onto production.
Both new wells are online and in the clean-up process and are continuing to increase in measured daily production volumes, currently at over 2,000 Mcfd combined. The first productive zone flowed in the first well, NF 24-26, is currently producing at rate of approximately 1,650 Mcfd. Once the production rate from that first zone stabilizes, the Company plans to open and sequentially flow-test two additional zones in that well. The second well, NF 42-35, is currently producing at a current rate of approximately 350 Mcfd and also continues to increase as drilling fluids diminish.
'The drilling and completion of our first new wells at North Fork Field has been accomplished quicker than originally anticipated,' said David M. Hall, Miller Energy's Chief Operating Officer. 'We were able to deliver two new wells and put them online within a few weeks' time from our original expected date to deliver just one well. Additionally, we have been able to come in under budget for both, averaging well-below the $9 million per well in expected gross cost.'