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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.
News For MILL From The Last 14 Days
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August 21, 2014
08:17 EDTMILLMiller Energy receives $31.2M tax credit certificate
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August 20, 2014
08:21 EDTMILLMiller Energy increases total proved reserves from $361M to $448M
Miller Energy announced a substantial increase in the estimated value of its reserves located in the Cook Inlet area of Alaska in a recently issued reserve report commissioned by the company. Total proved PV-10 increased from $360.9M at April 30 to $447.6M at July 31. Miller CEO Scott M. Boruff stated, "This increase demonstrates reserve growth in our Alaskan assets, including Redoubt, West McArthur River and North Fork. As we prove up additional fault blocks at Redoubt and begin drilling out our promising Sabre prospect, we expect further meaningful additions to our reserves, as well as strong increases in production."
August 19, 2014
15:54 EDTMILLEnerCom to hold a conference
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August 14, 2014
08:47 EDTMILLMiller Energy acquires Anchor Point Energy
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August 11, 2014
08:27 EDTMILLMiller Energy to acquire exploration license on 168K acres in Cook Inlet
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