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Magnolia Petroleum expects strong production growth

Fri, 07th Feb 2014 10:10

Magnolia Petroleum expects to see a rise in production after receiving a "large number" of proposals from operators to drill infill wells across its US onshore portfolio.Operators, such as Devon Energy, Newfield Exploration, Chesapeake Energy and Kodiak Exploration, have put forward proposals for onshore formations, including the Bakken, North Dakota, and Mississippi Lime, Oklahoma.Magnolia is participating in nine increased density wells on leases held by production since January 1st and another 12 have been filed by the relevant operators since then."With production already established on the relevant leases, increased density wells are very much the low hanging fruit by which US onshore operators can rapidly increase production, maximise recovery rates on individual spacing units, and upgrade reserves to the proven developed producing (`PDP') category," said Chief Operating Officer, Rita Whittington.The group' participation in increased density wells is a key part of its strategy to maximise the recovery of and prove up the reserves on its leases covering more than 13,500 net mineral acres in proven US onshore formations.Shares rose 4.65% to 2.25p at 10:37 on Friday.RD
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28 Jul 2015 11:20

Magnolia Petroleum tanks after plugging Oklahoma well

(ShareCast News) - Shares in Magnolia Petroleum took a dive on Tuesday morning as the oil explorer plugged a well in Oklahoma due to high levels of salt water. The AIM-listed company said the Shimanek #2 vertical well encountered hydrocarbons but decided to plug well due to high costs of disposing o

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28 Jul 2015 11:19

LONDON MARKET MIDDAY: US Stocks Seen Up Ahead Of Earnings, PMI Data

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28 Jul 2015 09:55

Magnolia Plugs Shimanek-2 Well Due To High Salt Water Saturation

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17 Jul 2015 11:16

Magnolia Petroleum says drilling has started at Shimanek 2 well

(ShareCast News) - Oil and gas exploration and production company Magnolia Petroleum has begun drilling operations at the Shimanek 2 vertical well in Oklahoma. The well, which is 94% owned and operated by Magnolia, will be drilled to a total depth of 5,300 feet targeting multiple conventional payzon

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17 Jul 2015 06:51

Magnolia Petroleum Says Shimanek 2 Drilling Commences

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16 Jul 2015 08:19

Magnolia Petroleum To Drill Shimanek 2 In Oklahoma "Imminently"

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13 Jul 2015 09:26

Magnolia Petroleum Expects Drilling At Shimanek By July-End

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25 Jun 2015 09:04

Magnolia Petroleum CEO Snead Says Company Is On Course Ahead Of AGM

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25 Jun 2015 07:33

LONDON BRIEFING: Tesco And DS Smith In Focus As Market Awaits Greece

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25 Jun 2015 05:15

AGM, EGM Calendar - Week Ahead

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24 Jun 2015 15:05

AGM, EGM Calendar - Week Ahead

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24 Jun 2015 05:21

AGM, EGM Calendar - Week Ahead

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23 Jun 2015 15:23

AGM, EGM Calendar - Week Ahead

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23 Jun 2015 05:12

AGM, EGM Calendar - Week Ahead

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22 Jun 2015 15:06

AGM, EGM Calendar - Week Ahead

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