Magnolia Petroleum: Marathon drilling two Bakken wells

10/1/2012

Magnolia Petroleum: Marathon drilling two Bakken wells

ED BALLARD

LONDON -- Magnolia Petroleum, an oil and gas company focused on proven U.S. onshore hydrocarbon formations, reported that one well operated by Marathon and targeting the Bakken Formation, North Dakota, has been drilled and is awaiting completion, while a second has been spud.

The Curtis Kerr 24-8H horizontal well, in which Magnolia holds a working interest, has been drilled to the Middle Bakken Sandstone interval and is currently awaiting completion. The Nicky Kerr 14-8 horizontal well was spud on September 25.

Magnolia now participates in 84 producing properties, 10 that are currently being drilled, and 10 waiting to spud. With 600-plus potential drilling locations on company's leases, Magnolia expects momentum to be maintained.

Dow Jones Newswires

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