Magnum Hunter Resources Announces Significant Eagle Ford Shale Well
Rhino Hunter # 1 - 2,218 BOEPD
Zebra Hunter # 1 - 2,145 BOEPD
HOUSTON, TX -- (Marketwire) -- 12/28/12 -- Magnum Hunter Resources
Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE
MKT: MHR.PRE) ("Magnum Hunter" or the "Company") announced today
production results from two new Eagle Ford Shale wells operated by
the Company. Both wells went on production December 22, 2012.
The Rhino Hunter #1 located in Lavaca County, Texas is producing
approximately 2,033 barrels of oil per day and 1,113 mcf of natural
gas (2,218 boe/d) on a 16/64" choke. Magnum Hunter owns approximately
48% working interest in the Rhino Hunter #1.
The Zebra Hunter #1 is also located in Lavaca County, Texas and is
producing approximately 1,995 barrels of oil per day and 898 mcf of
natural gas (2,145 boe/d) on a 16/64" choke. Magnum Hunter owns
approximately 45% working interest in the Zebra Hunter #1.
Mr. Gary C. Evans, Chairman and Chief Executive Officer of Magnum
Hunter Resources Corporation, commented, "These two new Eagle Ford
wells are by far our best producers since we initiated drilling
operations in this play in 2010. We have to-date drilled or
participated in a total of 42 successful wells in the oil trend of
the Eagle Ford. Our net daily production in the Eagle Ford is
currently over 4,100 boe/d. With these consistent results, and the
significant reserve additions we are seeing from new wells that are
now exceeding 500 thousand barrels of oil equivalent per well, our
Management and Board may very well have second thoughts about our
decision to possibly completely divest these properties at this
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are a Houston,
Texas-based independent exploration and production company engaged in
the acquisition, development and production of crude oil, natural gas
and natural gas liquids, primarily in the states of West Virginia,
Kentucky, Ohio, Texas and North Dakota, and Saskatchewan, Canada. The
Company is presently active in five of the most prolific
unconventional shale resource plays in North America, namely the
Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and
Williston Basin/Bakken Shale.
For more information about Magnum Hunter, please visit
Magnum Hunter Resources
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