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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:20 EDTMILLMiller Energy to acquire Savant Alaska for $9M in cash
Miller Energy announced that the Company has signed a binding agreement to acquire Savant Alaska subject to due diligence and regulatory approval, for $9M in cash. Savant would become a wholly-owned subsidiary of Miller. Through Savant, Miller would own a 67.5% working interest in the Badami Unit, with ASRC Exploration remaining as a 32.5% working interest partner. Miller would also obtain a 100% working interest in nearby exploration leases. These assets would bring approximately 1,100 BOPD gross and 600 BOPD net of current production and ownership of midstream assets located in the Alaska North Slope with a design capacity of 38,500 BOPD and 25 miles of pipeline. We estimate the acquisition will add approximately $6M of PDP PV-10 with significant additional drilling opportunities. In addition to the assets, Miller is pleased to welcome the Savant team, which will be supported by the company's Anchorage office.
News For MILL From The Last 14 Days
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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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