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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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December 19, 2014
14:38 EDTMILLRiver Road Asset reports 6.4% passive stake in Miller Energy
December 15, 2014
08:48 EDTMILLMiller Energy downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Miller Energy due to lower oil price forecasts and execution issues.
December 10, 2014
15:01 EDTMILLMiller Energy downgraded to Neutral from Buy at Sidoti
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13:34 EDTMILLMiller Energy price target lowered to $3 from $6 at Brean Capital
Brean Capital cut its price target on Miller after the company reported weaker than expected results. The firm says that the company lacked productive drilling outcomes in fiscal Q2. Brean added that the company's liquidity position remains "tenuous" but it expects the company's capital position to improve next year, Brean keeps a buy rating on the stock.
08:56 EDTMILLMiller Energy reports Q2 EPS ($3.71), may not compare to consensus (21c)
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