The company has produced around 500 thousand cubic feet (MCF) of natural gas per day from the wells, while it owned working interest in about 19,000 acres covering the majority of Adena field.
EnerJex plans to build a pipeline in the field, which will help in commencing natural gas production from at least one J-Sand well during the first quarter.
The firm also signed a new five-year contract to sell natural gas from Adena field at a substantial premium to the price it received in the past.
EnerJex Resources CEO Robert Watson said the natural gas prices have increased substantially in recent weeks due to unusually cold weather and prices are expected to remain strong throughout 2014.
"As a result, EnerJex has accelerated the pace of its natural gas development and I expect this to have a meaningful impact on the company’s production and cash flow in 2014," Watson added.
