Magnolia Petroleum completes share placing
15th Feb 2016 09:42
(ShareCast News) - Magnolia Petroleum's work to shore up its balance sheet amid a tough oil price environment came to fruition on Monday, with a discounted fundraising of £300,000 via the issue of 214.3m new shares at 0.14p each. The AIM-traded US onshore oil firm said the proceeds of the placing wo
Read moreMagnolia Petroleum begins drilling programme in Oklahoma
4th Nov 2015 14:18
(ShareCast News) - AIM-listed oil and gas exploration and production company Magnolia Petroleum has begun a 10-well drilling programme in Oklahoma, US. The company, which has a 0.53% interest in each of the ten wells, said it was targeting the proven Woodford formation in the prolific South-Central
Read moreMagnolia Petroleum surges after revealing it has more than 200 fully operational wells
16th Oct 2015 09:06
(ShareCast News) - Shares in Magnolia Petroleum surged over 20% early on Friday, after the oil and gas producer said it has over 200 fully operational wells, after seven more came on stream during the latest quarter. The London-listed company now has 202 wells in operation, with an additional ten cu
Read moreMagnolia Petroleum gains stake in new Oklahoma gas wells
2nd Oct 2015 09:34
(ShareCast News) - Magnolia Petroleum has announced it is working with Continental Resources to drill 10 new gas wells in Oklahoma. The AIM listed company announced on Friday the new wells will be drilled in the Woodford formation, from which it's estimated a total of 3.2bn barrels of conventional o
Read moreMagnolia Petroleum tanks after plugging Oklahoma well
28th Jul 2015 11:20
(ShareCast News) - Shares in Magnolia Petroleum took a dive on Tuesday morning as the oil explorer plugged a well in Oklahoma due to high levels of salt water. The AIM-listed company said the Shimanek #2 vertical well encountered hydrocarbons but decided to plug well due to high costs of disposing o
Read moreMagnolia Petroleum says drilling has started at Shimanek 2 well
17th Jul 2015 11:16
(ShareCast News) - Oil and gas exploration and production company Magnolia Petroleum has begun drilling operations at the Shimanek 2 vertical well in Oklahoma. The well, which is 94% owned and operated by Magnolia, will be drilled to a total depth of 5,300 feet targeting multiple conventional payzon
Read moreMagnolia Petroleum set to participate in 16 new wells
2nd Jun 2015 14:33
US oil and gas firm Magnolia Petroleum has announced that it is participating in 16 new wells across its leases in proven US onshore formations. The aggregate cost totalled $686,335. Chief executive officer Rita Whittington said: "The new wells highlight the value and diversity of our acreage and t
Read moreMagnolia Petroleum raises £1m in share placing; posts rise in 2014 revenue
29th May 2015 14:08
AIM-listed oil and gas exploration company Magnolia Petroleum said on Friday that it has raised £1m through the issuance of 12.9m shares at 0.7p each to fund its ongoing drilling programme in the US. It also said that it has appointed Sanlam Securities and Cornhill Capital as its joint brokers. The
Read moreMagnolia Petroleum shares rise on production bounce
22nd Aug 2014 14:59
Shares in Magnolia Petroleum leapt after the US oil & gas explorer said its daily production had risen more than 70% in just three months. Magnolia said an independent production report had shown an increase in its net daily production to 257 barrels of oil equivalent per day (boepd) at 1 July from
Read moreTuesday broker round-up UPDATE
6th May 2014 08:44
Antofagasta: RBC Capital upgrades to buy with a target price of 900p. Barclays: Numis downgrades from add to hold with a target price of 280p. BG Group: Goldman Sachs ups target price from 1500p to 1530p and retains a strong buy recommendation. Britvic: Numis raises target price to 684p and keeps
Read moreMagnolia Petroleum to report stronger-than-expected results
14th Mar 2014 07:52
AIM-listed US onshore outfit Magnolia Petroleum said it expects adjusted annual profits to be ahead of market expectations. The company, which continues to expect 240% growth in 2013 revenues, said that earnings before interest, tax, depreciation and amortisation - adjusted for currency movements -
Read moreMagnolia Petroleum shares rise on plans to drill eight wells in Oklahoma
17th Feb 2014 09:51
Shares in AIM-listed oil and gas explorer Magnolia Petroleum rose 0.08p, or 3.4 per cent, to 2.28p as the firm said it was joining a drilling programme of eight wells on an Oklahoma lease operated by partner Devon Energy. Magnolia, which has a 4.1% interest in the Marion 1-23 area to be drilled, s
Read moreMagnolia Petroleum expects strong production growth
7th Feb 2014 10:10
Magnolia Petroleum expects to see a rise in production after receiving a "large number" of proposals from operators to drill infill wells across its US onshore portfolio. Operators, such as Devon Energy, Newfield Exploration, Chesapeake Energy and Kodiak Exploration, have put forward proposals for
Read moreSThree Asian Pacific director sells 74,176 shares
23rd Oct 2013 16:29
- Asia Pacific director sells 74,176 shares - Awarded as consideration for purchase of minority interests The Managing Director of SThree's Asia Pacific arm, Justin Hughes, this week sold off £264,808-worth of shares in the staffing business, which specialises in the IT sector. Hughes disposed
Read moreMagnolia Petroleum revenues surge in the first half
10th Sep 2013 07:24
Magnolia Petroleum's first-half revenues jumped by more than 200 per cent and the pace of increase is increasing, the oil and gas company said. Revenues increased by 223% to $910,721 (£580,188) in the six months to June 30th and were 27% up on the full year for 2012, the company said in a statement
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