Magnolia Petroleum wells go live in Oklahoma

Magnolia Petroleum said it has started producing oil from three wells from the so-called Stack resource in Oklahoma.

The Fazio well, for instance, recorded initial production rates of 644 barrels of oil per day and 1,507 million cubic feet per day of natural gas, the company said.

"These three wells highlight the prolific nature of the Stack play," chief executive Rita Whittington said.