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Stock Market & Financial Investment News

News Breaks
January 14, 2013
10:21 EDTMILLMiller Energy completes horizontal well in Tennessee
Miller Energy Resources announced that, on Saturday, January 12, it had tested water free oil production from the company’s CPP-H-1 well. The CPP-H-1 well is the first successful horizontal well drilled and completed in the Mississippian Age Fort Payne formation in North America. The well tested at a restricted rate of 487 BOE per day on a ¾” choke. The rate was restricted in order to conserve as much reservoir energy as possible. A breakdown of the initial production test consists of 365 BOPD, 730 MCFGPD, and 0 BWPD. The company plans to begin producing the well as soon as Miller Energy Receives EPA permission to begin reinjecting the produced gas in order to maintain reservoir pressure. Based on the initial flow tests, the company expects this will be a very strong and commercially successful well. Although this well represents an unprecedented achievement, based on what is known about the formation, the geology and the initial reservoir pressure, Miller expects that the well will produce in the range of 200 to 225 BOEPD once reinjection has started and full production has begun.
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September 15, 2014
07:08 EDTMILLMiller Energy names Carl Giesler as CEO
Miller Energy Resources makes significant changes to senior leadership as part of a corporate shift that will include the potential MLP-monetization of its substantial midstream assets, and provides an update on drilling operations and on a non-binding letter of intent to purchase substantially all the operating assets of Buccaneer Energy in Alaska. Carl F. Giesler, Jr. joins Miller as CEO and a member of the board of directors. Scott M. Boruff is now executive chairman of the company. The company also announces that Deloy Miller will retire as chairman of the board and resign as a director.
September 9, 2014
18:34 EDTMILLMiller Energy reports Q1 average net production up 144% YoY to 3,313 boe/d
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16:55 EDTMILLMiller Energy reports Q1 EPS (34c), consensus (19c)
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