Magnolia Petroleum participating in 11 wells in Oklahoma

5/21/2013

Magnolia Petroleum participating in 11 wells in Oklahoma

By Iain Packham

LONDON -- Magnolia Petroleum a United States onshore focused oil and gas exploration and production company said it is participating in eleven wells in Oklahoma for an aggregate net cost of $1.4 million.

Magnolia Petroleum continues to see the considerable potential of the 13,500 plus net mineral acres it holds.

The well has been producing from the Mississippi Lime Formation in Oklahoma since October 2012 with a reported initial production rate of 128 boepd.

Dow Jones Newswires

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