Magnolia Petroleum Share News (MAGP)

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Magnolia Petroleum gains stake in new Oklahoma gas wells

Fri, 02nd Oct 2015 09:34

(ShareCast News) - Magnolia Petroleum has announced it is working with Continental Resources to drill 10 new gas wells in Oklahoma.The AIM listed company announced on Friday the new wells will be drilled in the Woodford formation, from which it's estimated a total of 3.2bn barrels of conventional oil have been recovered from 60 reservoirs.It will hold an average net working interest in each well of 0.525%, with the company's total cost for all 10 wells estimated at $0.59m. The total cost of each well ranges from $8.8m to $13.1m.The first well will spud in October.

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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

28 Jul 2015 11:19

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

28 Jul 2015 09:55

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

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

17 Jul 2015 06:51