Magellan Petroleum Corp. (MPET) Updates Domestic and International Oil and Gas Operations
Magellan Petroleum Corp. reported an update on its exploration and development activities in various oil and gas basins in the United States, Australia and the United Kingdom. Magellan Petroleum Corporation said that in the Weald Basin in the United Kingdom, the company has consulted with its partners and has decided to start drilling the Markwells Wood 1 well. The Markwells Wood 1 well is located in Horndean oil field. Magellan Petroleum Corporation said that the well was originally delayed because of cost overruns out of its control since the company was not the operator of the well. Magellan Petroleum Corporation…