Magnolia Petroleum Plc (LSE: MAGP; OTC: MGPTF) provided an update on its activities in proven U.S. onshore formations, including its participation in four new wells in Oklahoma alongside established operators such as Devon Energy.
The update is in line with the company’s strategy to rapidly build production and reserves on its leases in oil rich formations including the Bakken in North Dakota and Mississippi Lime in Oklahoma.
Participation in new wells
The company is participating in the following four wells at an aggregate net cost of US $153,433.
Well Name ...