US-onshore focused exploration firm Magnolia says production from the Jake 2-11 2TFH well has started at a rate of 2244boepd.
The company holds a 1.465% stake in the Statoil-operated North Dakota formation, which will boost Magnolia’s output to 33boepd.
The news comes just days after production began on the Jake 2-11 1H well, which added a further 57.5barrels a day to Magolia’s output.
“As a result of this second Statoil-operated Jake well, the last four wells in which we have participated in North Dakota’s prolific Bakken and Three Forks Sanish formations have added almost 200 boepd net to Magnolia,” said chief operating officer Rita Whittington.
“Even after taking decline rates into account, this substantial increase in net production will result in a major uplift in revenues which in turn will fund new wells and leases.”