EnerJex Touts Production Milestone at Rantoul Proj.
EnerJex Resources, Inc. 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 percent success rate.
Production from the Rantoul Project has increased by 100 percent 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.
EnerJex's CEO, Robert Watson, Jr., stated, "I continue to be pleased with the drilling results and operating cost efficiencies that EnerJex has achieved in its Rantoul Project. The Company remains focused on its production goal of exceeding 1,000 barrels of oil per day from its Kansas properties."
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