Exploration & Production
Magnolia Petroleum Provides Update On Mississippi Lime Project
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Magnolia Petroleum Plc, the AIM quoted US onshore focused oil and gas exploration and production company, is pleased to provide an update on its activities in the producing Mississippi Lime and Hunton formations in Oklahoma, in line with its expansion strategy to rapidly grow production and revenues.
As announced on 10 February 2012, as part of the acquisition of 800 gross acres with a 100% working interest in Osage County, Oklahoma, Magnolia acquired six "active" wells along with existing infrastructure already on the site including tanks, separators and an injection well. These six wells have historically produced from a shallower formation than the Mississippi Lime which lies below, and all had recompletion and workover potential.
The Osage Lynn and Solman are two of these six shallow…
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