Magnolia Petroleum Plc announced its participation in a further well targeting the prolific Bakken Formation, North Dakota.
The Nicky Kerr 14-8 horizontal well is targeting the Bakken formation, N.D., and is operated by Marathon Oil. Total drill costs are estimated at $8,530,880 with the company's 1.955692% working interest in the well estimated at $166,837.
Magnolia's net revenue interest is 1.46677%.