Magnolia well starts production

US-focused oil and gas explorer Magnolia Petroleum yesterday said it has started production at the Parmley 1-1WH well in Woodford, Oklahoma, with net initial output rates of 54 barrels of oil per day. The Aim-listed firm said production is expected to decline from initial elevated levels. “In line with our strategy, revenues generated from Parmley will be reinvested...into further drilling activity,” said chief operating officer Rita Whittington.