The Miller Family has provided leadership in the oil and gas industry for over three generations. In 1971, Miller Brothers drilled their first major discovery in what is now known as the Michigan Niagaran Trend. Miller Brothers soon became a major player in one of the best on-shore developments in the United States during the 1970′s, often forming partnerships with other companies to augment technical and financial advantages.
In 1989, Miller Energy began its aggressive exploration and exploitation of the Michigan Antrim natural gas development. Since that time, Miller Energy has participated in over 621 Antrim gas wells with a success ratio that exceeds ninety-eight percent. Taking advantage of their financial strength and creativity, Miller Energy was one of the early leaders in monetizing the Section 29 Credit through production sales.
In 1991, consistent with his aggressive leadership in the pursuit of new opportunities, C. John Miller co-founded Globex, an international oil & natural gas exploration company. Through wildcat exploration Globex was highly successful establishing substantial production and exploitation opportunities in Equatorial Guinea, West Africa, and in the Northwestern shelf of Australia. In 2002 the Globex board elected to sell the entire company to Marathon. Marathon had this to say of its acquisition:
“Marathon will strengthen its offshore Equatorial Guinea with the purchase of privately held Globex Energy Inc for $155 million. Globex’s assets include 38 million BOE of proven reserves of which 35 million are in the Alba Field offshore Equatorial Guinea and the rest are in the Stag Field offshore Australia on the Northwest Shelf.”
After the sale of Globex, Miller Energy continued its efforts in the domestic arena. In 2003 Miller Energy entered into a joint venture with Wolverine Gas and Oil, along with others, to explore the Central Utah Hingeline. The first well drilled, King Meadows Ranches 17-1, encountered 487 feet of net oil pay in the Jurassic Navajo Sandstone. This was the discovery well for the highly touted Covenant Field in the Utah Hingeline. The Covenant Field now boasts 20 wells with gross cumulative production in excess of 9 million barrels of oil through December 2009.
Hart’s Oil & Gas Investor cited the Covenant Field Discovery as the “Best Discovery of 2004,” noting that:
“The blockbuster discovery has conclusively put to rest the notion that there are no more elephants to be found onshore in the U.S.”