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Miller Energy Resources (MILL) Reports on Alaska Oil and Gas Operations

Miller Energy Resources reported that the company has participated in a successful hydraulic fracturing operation on a well in Alaska, with the well responding with a large jump in production.

Miller Energy Resources said that Cook Inlet Energy, LLC, a subsidiary of the company, has a 30% non-operated interest in the Three Mile Creek Lease located in the Cook Inlet Basin in Alaska.

Aurora Gas, LLC, the operator of the lease, conducted a hydraulic fracturing operation on the Three Mile Creek # 2 well. The company targeted eight formation zones consisting of a total of approximately 125 feet of net oil and gas pay.

Miller Energy Resources reported that the well responded to the hydraulic fracturing with natural gas production gradually increasing to 350,000 cubic feet per day, from 60,000 to 80,000 cubic feet per day prior to the hydraulic fracturing. The company also expects an increase in proved reserves at the Three Mile Creek # 2 well due to the operation.

Miller Energy Resources also has operations in the Appalachian Basin in Tennessee, where the company has forty thousand acres of prospective inventory to explore and develop. The company is targeting the Chattanooga Shale and several other formations.
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