Magnolia Petroleum Acquires Interest in Mississippi Lime Formation

Magnolia Petroleum (LSE:MAGP) reported that it has acquired total interest in 800 acres in Mississippi Lime formation, Oklahoma.

As quoted in the press release:

The Mississippi Formation is a proven commercial oil and gas system that has been producing from several thousand vertical wells for more than 50 years – new technology and horizontal drilling has reopened the oil play Magnolica plans to drill at a minimum 3 vertical wells to test the Mississippi on this acreage in the near future.

Click here to read the Magnolia Petroleum (LSE:MAGP) press release.