The company’s wholly owned subsidiary Cook Inlet Energy (CIE) has completed its planning and secured necessary approvals from the Alaska Department of Natural Resources to begin operations to bring the Redoubt Unit, including the Osprey platform, back into production.
A hydraulic snubbing unit is under contract and en route to Alaska and will be installed on the Osprey platform to begin workover operations on three wells in April.
Production from these wells is expected to be online soon thereafter, and additional workovers on Osprey are planned for later this year.
Miller Energy CEO Scott Boruff said that the company is initially targeting three wells, two that entail replacement of downhole electrical submersible pumps and will quickly add approximately 400 barrels of oil a day to its production.
"The third workover entails reactivation of a previously producing gas well. We can then turn our attention to the additional previously producing wells on the platform," Boruff said.
