The rework included replacing tubing and adding new perforations targeting previously untapped oil-bearing sands. Last month, Miller announced the rework of the West McArthur River unit-5 well.
Scott Boruff, CEO of Miller, said: “We have now fulfilled the initial plan set forth by the Miller board of directors to exceed 1,100boed in Alaska.
“This success is just one more example of the good news that keeps coming at Miller as we continue to demonstrate our corporate promise of delivering value to our shareholders.”
On March 15, 2010, the company reported that it has a total proforma asset value of over $492m, including oil and natural gas reserves valued at $372m. On March 24, 2010, it reported net income of $271.9m for the third quarter ending January 31, 2010 as a result of a one time $276m purchase gain.
Headquartered in Huntsville, Tennessee, Miller is an oil and natural gas exploration, production and drilling company operating in multiple exploration and production basins in North America.
