Houston-based exploration and production outfit Magnolia Oil & Gas Corp. saw efficiency gains in the third quarter while also moderately boosting production from its Eagle Ford Shale and Austin Chalk assets in South Texas.

Third quarter production grew 1% sequentially to 82,700 boe/d. 

The company operates two drilling rigs and one completion crew. One rig is drilling multi-well development pads in the Giddings field in the Austin Chalk with the second rig drilling a mix of wells in both the Karnes and Giddings areas, including some appraisal wells at Giddings.

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“Production trended above our expectations due to strong well performance in...