Exploration & Production
EnerJex Initiates Oil Production at Adena Field Wells; Talks Rig Plans
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EnerJex Resources, Inc. has reported an update on its operating activities in Morgan County, Colorado, where the Company owns a 100% working interest in approximately 19,000 acres covering the vast majority of Adena Field.
EnerJex has successfully initiated oil production from the three previously announced wells, including two wells that were reactivated in the J-Sand formation and one well that was recompleted in the D-Sand formation at depths of approximately 5,500 feet. Initial results from these wells have met or exceeded management's expectations and the Company plans to announce production rates once they have stabilized.
Following these positive initial results, EnerJex added a second rig to accelerate development of the project and is currently in the process of reactivating one…
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