The
company
will
pay
almost
$400,000
for
1.95%
working
interests
in
the
Jake
2-11
1H
horizontal
well,
targeting
the
Bakken
formation,
and
the
Jake
2-11
2TFH
horizontal
well,
targeting
the
Three
Forks
Sanish
formation.
The
wells
lie
in
Willliams
County,
North
Dakota
and
are
being
operated
by
Brigham
Oil
&
Gas,
which
plans
to
drill
the
wells
back
to
back
using
the
same
drill
pad.
Total
drill
costs
for
each
well
have
been
estimated
at
about
$10.2
million,
with
Magnolia’s
working
interest
estimated
at
$199,509
each.
The
company
said
it
expected
to
elect
to…
