Link here to Oil & Gas Journal.
Miller Energy Resources Inc., Knoxville, reported completion of a
horizontal well in Mississippian Fort Payne limestone in Tennessee.
Data points:
- IP: 365 bopd, 739 mcfd; no water; 3/4 inch choke
- will level off to 200 bopd once gas injection begins
- Miller has identified 25 sites; 40,000
- earlier wells recovered around 9% OOIP; company thinks that number can be "greatly" increased
Update: See first comment below and the reply. This is not an investment site. I posted this because I was surprised to see yet another horizontal play in a location that completely surprised me. I never even thought that someone might use this nugget of information to think it might be an investment opportunity. I know nothing about Miller; nothing more than what is noted above and at the linked article.
This, along with Alaska might tempt an investor.
ReplyDeleteBe very careful.
The information on the internet might cause concern.
Let's just say Miller is controversial.
It will be interesting to watch from a distance.
Anon 1
Thank you. Very good advice.
DeleteThe perspectives are different. I am a poor investor. I buy and hold. I buy large cap companies that are not the least bit speculative.
I posted this story because it was "another" shale play in a state that surprised me. I did not give a second thought to the operator.
But, wow, you are correct. I can't imagine anyone thinking about investing in any company with such little information. I guess that's what those $450/year newsletters are all about that tease folks with "Get in now and the next big play!"
Thank you for well-placed advice.