The companies expect to close the transaction, subject to necessary governmental and regulatory approvals, in the first quarter of calendar 2014.
The sale will be effective as of closing and includes 6 natural gas wells, 15,464 acres, and production and processing equipment.
The North Fork Unit and gas field is located on the southern Kenai Peninsula, east of the community of Anchor Point.
The transaction will also include the acquisition of Anchor Point Energy, (AP Energy), the owner and operator of 9 miles of twin 4in natural gas transmission pipelines and a multi-year natural gas sales contract.
The acquisition of AP Energy will occur upon receipt of necessary regulatory approvals and is expected to occur after the closing on the North Fork Unit.
Miller Energy Resources CEO Scott Boruff said, "We have been able to appreciably add to our core area with production and reserves, as well as further well-bore diversification, adding up to $20 million in expected annual revenue in the process."
