Commencement of production on these wells will be online in the next few weeks and months:
Skunk Creek 4-8-17-13H3 producing
Skunk Creek 4-8-17-13H producing
Skunk Creek 4-8-17-14H3 producing
Skunk Creek 4-8-17-14H producing
Rothermel 2MH permitted 4/2/14 19N-3W-1M
Rothermel 1-3WH 19N-3W-1M
Rothermel 4MH 19N-3W-1M
Rothermel 5MH 19N-3W-1M
Marion 1-22HW 19N-3W-1M
Marion 1-26 HW 19N-3W-1M
Marion 1-27HW 19N-3W-1M
Jimmy 1-28H 36.179291, -97.19992 28-20N- 1E
Dunn 1-5 vertical 36.2138355, -96.2528773
Lemmons 6MH 23-19N-3W
Lemmons 5WH 36.10227, -97.37263 23-19N-3W
Cummings 31-28-12-1H 31-28N-12W producing
Cummings 31-28-12-2H 31-28N-12W
Moe Jerome 1WH
Bowen 1-30 vertical 29-7N-4E
I'm not sure if they'll release the figures for Skunk Creek as they are below the 1.5% for reporting, but if the figures are correct that Robsky posted a few days ago, then that adds around 60 boepd to the inventory.
CPR Update • Net proved and developed producing reserves (‘PDP’) estimated at 162 Mbbl of oil and condensate and 540 MMcf gas with NPV10 of US$9.143 million • Total net proved reserves (‘1P’) of 719 Mbbl of oil and condensate and 2,093 MMcf gas with NPV10 of US$31.832 million • Total net proved and probable reserves (‘2P’) of 749 Mbbl of oil and condensate and 2,307 MMcf gas with NPV10 of US$34.693 million • Total net proved, probable and possible reserves (‘3P’) of 877 Mbbl of oil and condensate and 2,554 MMcf gas with NPV10 of US$35.884 million • Report reflects reclassification of large proportion of Mississippi Lime formation reserves on undrilled leases as Contingent Resources – in line with industry-wide view of the play being comprised of wedges rather than a uniform resource (see announcement of 6 May 2014 for further details) • Multiple potentially highly productive Mississippi Lime wedges identified on Magnolia’s leases – future drilling expected to lead to reassignment from contingent resources to reserves • Report does not reflect the potential of the Woodford formation, which lies below the Mississippi Lime and is at an earlier stage of development – viewed by operators as the more prospective of the two formations in certain areas Production Update • Net production stood at 257 boepd as at 1 July 2014 compared to 150 boepd on 1 April 2014 due to a number of wells in which Magnolia holds larger than average NRIs commencing production Rita Whittington, COO of Magnolia, said, “At US$31.832m, the value of our proven reserves provides Magnolia with considerable asset backing, particularly when compared to our market valuation. From current levels, our reserves are set to grow ￼ strongly. Not only do we have interests in 79 wells at various stages of development but we continue to receive multiple drilling proposals. A growing proportion of these are targeting the Woodford, which is increasingly viewed as the more productive formation. Meanwhile, the improved understanding of the geology of the Mississippi Lime allows us to prioritise drilling activity alongside those operators who are consistently hitting highly productive ‘wedges’. “As wells in which we have larger than average interests have come on line, Magnolia’s net production has increased to 257 boepd as at 1 July 2014 from 150 boepd as at 1 April 2014. Thanks to the combination of growing revenues from production and our US$5m credit facility, we are well placed to deliver on our objective to prove up the reserves on our leases and I look forward to providing further updates on our progress in due course.”
"My companies better than yours nah nah nah nah nah", you'd think people would grow out of this. On these boards it's prevalent. Were all in this to make money, so why people need to antagonise investors on other boards is beyond me.
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