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Miller Energy Resources, Inc. Message Board

  • m36lambert1980 m36lambert1980 Jan 31, 2013 11:08 AM Flag

    New Production Timeline

    Trying to remember all the projects going on in Alaska and Tennessee and the projections for each. RU7 and RU1 should be doing 450 more BOE once maintenance is done. Tennesse is around 200 BOE per horizontal well and there are 3 on the immediate horizon. What else is planned for the next couple of months that I'm missing??

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    • Rig 34 is probably going to be working on Olsen Creek and/or Otter. Days are getting longer now.

      Also, Petroleum news had an article about CIE needing a permit to expand the McArthur River pad, this is for additional equipment storage and a "lay-down" area - for pipe, I suppose. They said in the last CC that they were looking to drill in the McArthur River area. Perhaps they will use rig 34.

      There was also talk a while ago about CIE acquiring an additional National 1320. Haven't heard about that lately. It was a used rig that was to be auctioned off.

      Also, there is the Sword project, it is in the Redoubt area but they would drill from land. They just did an bought out Hilcorp's 30% interest in order to make the prospect 100% MILL. Potential for 20 million barrels of oil and 14.3 bcf of gas. That could be years away. That may be why they want another 1320.

      This year is all about the reworks off-shore, and new exploration/production onshore.

      Maybe 6 months late, but we will be getting to the 4-5000 bpd mark soon.

      In a few years I think 10,000 bpd is easy to get to.

      Don't forget the pipeline, whereby MILL gets to take advantage of much of the production that other players in the Cook Inlet begin to produce. Considering the refinery is already fronting money (Joint Venture?), I think this will be a cash cow for MILL. They plan on being open for business in 2014, which is only 11 months away.

      But we all know about plans... things have a way of taking longer.

      Sentiment: Strong Buy

    • RU-6 follows the completion of RU-7. RU-6 will be an offset from the existing oil well which has collapsed casing. The offset is projected to yield 600 to 1000 BPD.

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