Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Magnolia Reports Jake Wells Boost

change text size

US onshore-focused Magnolia Petroleum reported Wednesday a boost to its production from four Jake wells in the Bakken and Three Forks Sanish Formations, North Dakota, that have come on stream.

Magnolia holds a 1.465-percent net revenue interest in each of these Statoil operated wells which, combined, add 156 boepd to Magnolia's net production. The company said the addition of the wells is in line with its strategy to rapidly build production through drilling and in the process prove up the reserves on its leases.

Magnolia CEO Rita Whittington commented in a company statement:

"As with the previously reported two Jake wells, also operated by Statoil, all four initial production rates reported today are among the best in our portfolio of 133 producing wells in proven US onshore formations, such as the Bakken and Three Forks Sanish, North Dakota.

"Our share of production from these four wells alone totals 156 boepd, and as a result we expect our next CPR, due in 1Q 2014, to report another major increase in Magnolia's daily production which, as at 1 August 2013, stood at 214 boepd."

 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Leni Finds More Oil with 4th Goudron D... (Jul 22)
 -  Puka-3 Well Spuds Onshore New Zealand (Jul 22)
 -  IEV Receives Nod to Progress Work at P... (Jul 22)
 -  Drilling Starts at Egdon's Wressle Pro... (Jul 21)
 -  Statoil Resumes Production at Njord A ... (Jul 21)
Most Popular Articles
From the Career Center
Jobs that may interest you
Senior Project Manager (SURF Installation)
Expertise: Subsea Engineering
Location: Houston, TX
 
Senior Landman/ Land Manager
Expertise: Landman, Petroleum Engineering
Location: Houston, TX
 
Asset Integrity Engineer - Coordinator
Expertise: Environmental Safety & Training, Petroleum Engineering, Safety Engineering
Location: Midland, TX
 
search for more jobs