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News Breaks
February 20, 2014
08:25 EDTMILLMiller Energy provides operational update
Miller Energy announced that it has completed its rework of the RU-7 oil well and is in the final stages of completing the WMRU-8 oil well. RU-7 was recently brought back online after a successful rework to add approximately 56 feet of new perforations in the primary productive crude oil interval, the Hemlock. The primary objective for the RU-9 well will be the Hemlock formation, the principal producing formation in the Redoubt Shoal field. The company expects to begin drilling RU-9 within the next two weeks. The well will take approximately three months to drill and complete. WMRU-8 has been drilled to a final measured depth of approximately 15,535 feet. The primary objective is the Hemlock, with a secondary target located in the pre-tertiary Jurassic oil zone. The well is intended to provide a take point for the Hemlock reservoir previously logged, but not tested, in the WMRU-7 well. Casing has been installed and cemented over the Hemlock interval and the final casing section is currently being installed over the Jurassic interval. It is expected the well will be completed and well testing will begin over the next two weeks. The company has filed an application for a comingling permit from the State of Alaska to allow production from the G zero concurrent with the Hemlock.
News For MILL From The Last 14 Days
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July 15, 2014
07:30 EDTMILLMiller Energy posted solid Q4 results, says Brean Capital
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05:20 EDTMILLMiller Energy reports Q4 EPS (38c), consensus (14c)
Reports Q4 revenue $22.1M, consensus $22.13M. During FY14 and Q4, Miller reported an increase in net loss. This was primarily associated with non-cash charges including the loss on debt extinguishment from refinancing the company's previous Apollo facility with a new, more cost effective facility, and non-cash changes in the fair value of our derivatives resulting from an increase in commodity prices.
July 11, 2014
09:21 EDTMILLMiller Energy management to meet with SunTrust
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