Miller Energy Resources, Inc. provided an update on its RU-5B, Sword No. 1 and RU-D1 wells. The Company's wholly owned Alaskan subsidiary, Cook Inlet Energy, successfully completed sidetracking the RU-5B well in mid-October and has brought the well online. The Sword No. 1 well reached final drilling depth on October 23 and final casing string has been successfully set. The Company has also successfully completed the RU-D1 disposal well. For the quarter ending October 31, 2013 the Company reports record oil sales with over 200,000 barrels sold, approximately double the amount from the previous quarter.

Prior to the sidetrack drilling procedure, RU-5 had reportedly produced approximately 100% water. The RU-5 sidetrack reached a final measured depth of 15,750 feet. The Company engineered and performed a completion on the well, beginning production and the clean-up process in mid-October. The new well is currently producing approximately 250 BOPD and the Company is seeing oil cuts continually improve on a daily basis. As a whole, the Osprey platform is currently producing over 2,500 BOEPD.

Tags: Miller Energy Resources