Magnolia Petroleum has received a large number of proposals from operators such as Devon Energy, Newfield Exploration, Chesapeake Energy and Kodiak Exploration to drill increased density or infill wells across its portfolio of producing leases in US onshore formations, including the Bakken, North Dakota, and Mississippi Lime, Oklahoma.

Infill wells maximise the recovery of reserves on leases that are held by production and, as a result of the growing number of these wells in which Magnolia is participating and the multiple proposals it is receiving, the Directors expect the strong growth in production and reserves seen to date to continue in the years ahead.

Tags: Magnolia Petroleum