Exploration & Production | Operational Updates | Industry News
EnerJex Expects 'Landmark Year' for 2013
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EnerJex Resources Inc. reported the following update on its operating activities and development plans.
Oil ProductionEnerJex produced 27,856 net barrels of oil during the fourth quarter of 2012. Adjusted for asset sales, this represents an 81% increase compared to the same period in 2011. For the full year, the Company produced 96,842 net barrels of oil. Adjusted for asset sales, this represents a year-over-year increase of 88% compared to 2011. As described below, EnerJex's drilling activity accelerated in the fourth quarter of 2012 and it is expected to further accelerate in 2013.
Through the development of identified drilling locations in its existing asset portfolio, the Company expects to achieve a stabilized production rate of 1,000 barrels of oil per day within approximately 24…
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