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Magnolia Petroleum provides operations update


Published Dec 19, 2013
Magnolia Petroleum-3

Magnolia Petroleum is pleased to provide an operations update across its portfolio of interests in proven US onshore formations including the Bakken, North Dakota and Mississippi Lime, Oklahoma. This update is in line with the Company’s strategy to rapidly build production through drilling and prove up the reserves on its leases.

Rita Whittington, COO of Magnolia, said, “Thanks to our participation in wells with larger interests such as the Parmley1-1 WH, Magnolia’s average interest in 180 wells in proven US onshore formations now stands at over 3%, having been approximately 0.6% at the time of our AIM Admission in November 2011. Our interest in the Robison well is small but following strong initial production rates for other Woodford wells in which we have participated, such as the 1,170 boepd for JoAnn 1H-18, Robison further demonstrates the potential of our other wells targeting this formation, including the Parmley.

Tags: Magnolia Petroleum




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