Miller Energy Resources, Inc. has retained PLS Inc., a third party oil and gas marketing and advisory firm in Houston, Texas, to help divest Miller's assets in the Southern Appalachian Basin in Tennessee. Miller will evaluate all reasonable bids submitted by September 24, 2014.
Miller Energy Resources operates ~44,800 gross acres in Scott, Morgan, Roane and Campbell Counties. The majority of the acreage is held by production. Geologic objectives include the Fort Payne, Monteagle, Mississippian Lime and Chattanooga Shale formations. Miller has identified more than 25 horizontal drilling targets for the Mississippian Lime, as well as the Monteagle. Additionally, Miller currently owns and operates approximately 650 wells which currently produce approximately 57 BOPD & 400 MCFD net and believes there to be tremendous value in implementing an ongoing workover and recompletion program.