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Magnolia Petroleum appoints new non-exec director

Published: 03:03 16 May 2016 EDT

directors in a meeting
The new non executive director has extensive experience

Magnolia Petroleum PLC (LON:MAGP) has appointed Leonard Wallace, a highly experienced oil and gas engineer and a 50-year veteran of the industry, as its new non-executive director.

“We are delighted to welcome Leonard to the board,” said Rita Whittington, Magnolia Petroleum chief operating officer.

“His extensive operational experience and engineering background is an excellent fit with the skillset of the existing members of the board, all of whom have long and successful track records in their specific areas of expertise within the oil and gas sector. 

“With an excellent team in place, Magnolia is well equipped to not only navigate today’s volatile oil markets, but also to emerge from the current downturn in a strong position to accelerate the roll-out of our strategy to acquire and develop leases in proven US onshore formations.”

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