Miller Energy Completes RU-1 Well Workover

By Staff,

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Miller Energy Resources ( MILL ) has successfully completed a work-over on the RU-1 crude oil well with newly commissioned Rig 35 on the Osprey platform in Alaska's Cook Inlet.

The RU-1 well has demonstrated an initial production of 482 barrels of oil per day, which exceeds the previous average flow rate under its previous operator from September 2007 through July 2009 of 125 BOD. This was the first project for Miller's new Rig 35, which received state approval to operate in August.

MILL shares closed at $4.22 Friday.

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This article appears in: Investing Commodities
Referenced Stocks: MILL

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