Exploration & Production
Magnolia Reports IP Rate of 441 Boe/d From Mississippi Lime Well
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Magnolia Petroleum said the initial production rates for the Thomason 10-27-12 1H well in the Mississippi Lime Formation in Oklahoma are in line with expectations.
The well is producing 124 barrels of oil per day and 2.03 million cubic feet per day.
The output is mainly liquids rich gas, the first such well for Magnolia, with an oil equivalent production rate of 441 barrels per day, in line with management expectations.
Magnolia holds a 12.5 per cent working interest and a 9.375 per cent net revenue interest in the Thomason well so the net initial production attributable to Magnolia is approximately 41 boepd.
Chief operating officer Rita Whittington said: "We are delighted with the initial production rates of the Thomason well, which are in line with company expectations.
"Combined with…
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