Exploration & Production
EnerJex Resources Announces New Oil Production Milestone
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EnerJex Resources, Inc. (OTCMarkets: ENRJ) ("EnerJex" or the "Company"), a domestic onshore oil company, announced today that it has drilled 19 new oil wells and 14 new secondary recovery water injection wells in its Rantoul Project located in Eastern Kansas. Year-to-date, the Company has drilled 47 new oil wells and 63 new injection wells in this project with a 100% success rate.
Production from the Rantoul Project has increased by 100% since the end of 2011 to approximately 200 barrels of oil per day, and management expects further increases as additional oil wells are completed. In addition, management expects significant production increases from existing oil wells in this project resulting from secondary recovery water injection.
Management Comments
EnerJex's CEO, Robert Watson…
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