3 Sep 2014 11:52
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Magnolia Petroleum Information
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Don't have an account? Click here to register.Magnolia Petroleum invests in 11 new oil wells
Tue, 21st May 2013 10:58
Magnolia Petroleum has invested in 11 new oil wells in the US at a net cost of 1.4m dollars.The company is participating in four wells in Dakota and seven wells in Oklahoma. Production has commenced on three wells in the Mississippi Lime formation in Oklahoma. They include the Wolf 1H-25, Nighswonger Farms 2815 1-13H and the McClure 36-2H which have an initial production rate of 2.4 barrels of oil equivalent per day (boepd), 2.4 boepd and 0.05 boepd, respectively. "The speed with which we have started to deploy the recently raised funds demonstrates the high level of activity in US onshore liquids rich plays, the large number of opportunities we continue to see and, more specifically, the considerable potential of the 13,500 plus net mineral acres we hold," said Chief Operating Officer, Rita Whittington.She said the new investment is in line with the company's strategy to grow net production and revenues.The company has also acquired a 0.328% working interest in the Betty 22-24-10 1H, a horizontal well operated by Chesapeake Energy.The well has been producing from the Mississippi Lime since October 2012 with a reported initial production rate of 128 boepd.Shares fell 1.92% to 2.55p at 11:16 Tuesday.RD
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29 Aug 2014 11:36
22 Aug 2014 14:59
Magnolia Petroleum shares rise on production bounce
Shares in Magnolia Petroleum leapt after the US oil & gas explorer said its daily production had risen more than 70% in just three months. Magnolia said an independent production report had shown an increase in its net daily production to 257 barrels of oil equivalent per day (boepd) at 1 July from
Read more30 Jul 2014 10:41
29 May 2014 10:54
Magnolia Petroleum Increases Production, Participates In Six New Wells
LONDON (Alliance News) - Magnolia Petroleum PLC Thursday said it has started production at its Parmley 1-1WH well site and is participating in six new wells in Oklahoma at a cost of USD899,808. The US-focused onshore oil and gas production company, which takes small stakes in multiple wells
Read more29 May 2014 07:25
UK MORNING BRIEFING: Kingfisher Shares Fall 5% Amid Firm Open
LONDON (Alliance News) - UK shares are higher at open Thursday, ahead of some US economic data later in the day.
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20 May 2014 13:00
Magnolia Petroleum Secures Second Increase In Credit Facility
LONDON (Alliance News) - Magnolia Petroleum PLC Tuesday said the borrowing base limit of its credit facility has been increased for the second time since securing the facility. In a statement, the US onshore focused oil and gas exploration and production company said the borrowing bas
Read more14 May 2014 08:59
Magnolia Petroleum Pretax Loss Narrows On Production Increases
LONDON (Alliance News) - Magnolia Petroleum PLC Wednesday said its pretax loss narrowed in 2013 as its strategy to rapidly increase production led to a 48% increase in the number of wells on its leases and a more-than-tripling its revenues during the period. The US-focused onshore oil and g
Read more6 May 2014 11:22
UK MIDDAY BRIEFING: AstraZeneca Asks For Investor Patience
LONDON (Alliance News) - AstraZeneca Tuesday set out its defence against a GBP63 billion takeover offer from US rival Pfizer Inc, urging its investors to be patient because it is set to grow quickly after it invests in its pipeline and transforms the company over the next few
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