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Magnolia Petroleum

16:57 on 17/11/2017

Current Price 5.03p | Bid 5.00p | Ask 5.25p | Change 0.00%

Company Overview

Magnolia Petroleum plc (formerly Fairholt Investments plc) is the holding company of Magnolia Petroleum, Inc. Magnolia is an oil and gas exploration and production company that was founded on 2 July 2008 to engage in the acquisition, exploitation and development of oil and gas properties primarily located onshore in the United States. Magnolia was formed to acquire leases and participate in the drilling of wells in the Bakken Shale in North Dakota. The Bakken Shale produced oil from the 1950s to the 1980s. However, the introduction of horizontal drilling and fracture stimulation technology within the last decade has reopened these fields to become economically viable again. As well as the Bakken, Magnolia has interests in the Woodford and Hunton formations in Oklahoma, and is seeking to acquire interests in the Mississippi formation. These are all well known oil plays that are now being reopened as a result of the introduction of horizontal drilling and new technologies. Magnolia's management team is experienced and skilled in the acquisition, development, production and operation of oil and gas properties, with long-standing industry contacts to take advantage of the changes in technology and introduction of horizontal drilling.

Stock Details

Shares in Issue 1,271,958,563
Market cap £ 1.40m
Sector Oil & Gas Producers
Indices FTSE AIM All-Share Index

Financial Highlights Year Ended 31/12/2013

Turnover $2.44 million
Operating Profit $-0.26 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -0.11
» More Financials

Key Personnel

Steven Otis Snead CEO

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Price Summary

Mid Price ? 5.13p
Bid Price ? 5.00p
Ask Price ? 5.25p
Volume ? 350
Change Today 0.00p
% Change Today 0.00%
Open 5.03p
Previous Close 5.13p
Intraday High 5.03p
Intraday Low 5.03p
52 Week High 0.63p
52 Week Low 0.09p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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