Enrema acquires Miller Energy Resources

Enrema LLC, a Cookeville, Tennessee-based privately held company developing and operating oil and natural gas production fields, has acquired the Tennessee-based assets of Alaska-based Miller Energy Resources for US$3.25 million. Enrema utilises the latest technologies for optimum recovery without compromising the safety of the environment. The acquisition makes Enrema the largest oil and gas company in Tennessee and one of the top producers in the area.

"These assets are strategically crucial for our operation and growth strategies," said Marcelo Recchia, general manager of Enrema. "Miller Energy Resources offered top-quality assets and by acquiring them we find ourselves in a much stronger position to grow and serve existing markets."

Founded in 2011, with operations primarily on the Cumberland Plateau in Fentress and Morgan County and offices in Miami, Florida and Cookeville, Tennessee, Enrema's objective is to maximise the productivity and the economic efficiency of the facilities and fields they develop and operate. Independently owned, Enrema has the capability and skills to take advantage of the latest technologies, resources and experiences available today for successfully achieving optimum performance without compromising in safety and concern for the conservation of the environment. Enrema is also leading the way with enhanced oil recovery projects using natural gas as production drives. This leads to a clean and efficient way to further develop existing reservoirs.

Kurlan Barbosa, Enrema's Asset Engineer, said the company has a solid long-term plan to maximise the value of the acquisitions by integrating them with existing strategies, that includes:

• Drilling and completion of horizontal and vertical shale gas wells.
• Increasing production and reactivation of oil and conventional gas existing wells.
• Optimisation of a natural gas transportation pipeline.
• Continuing the growth and importance of our presence in the area by leasing more acreage for mineral rights exploitation.
• Conducting geological and engineering studies oriented to the evaluation of oil and gas reserves.

Backed by strong, private financial resources, Enrema takes advantage of the latest technologies to optimise resource recovery without compromising environmental standards or safety.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/20022015/enrema-acquires-miller-energy-resources/