Magellan Petroleum Corporation is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast. It conducts its operations through two subsidiaries corresponding to the geographical areas in which the Company operates: Magellan Petroleum (UK) Limited (MPUK) and Magellan Petroleum Australia Pty Ltd (MPA). As of June 30, 2016, it had two geographic segments: MPUK and MPA, corresponding to its operations in the United Kingdom and Australia, respectively. It owns interests in the Horse Hill-1 well and related licenses, which consist of PEDLs 137 and 246 in the Weald Basin, onshore the United Kingdom. MPUK's oil and gas assets consist of various exploration licenses in or adjacent to the Weald Basin located onshore and offshore southern England. MPA's oil and gas assets consist of NT/P82, which is an exploration block in the Bonaparte Basin, offshore Northern Territory, Australia.