Magnum Hunter Resources Corporation (NYSE: MHR) today announced production results from its two new Eagle Ford Shale wells that have been on production since December 22, 2012.
Well located in Lavaca County, Texas. It 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 has 48% of working interest in this well.
Well located in Lavacaof County, Texas. It 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 has 45% working interest in this well.
Mr. Gary C. Evans, Chairman and Chief Executive Officer of Magnum Hunter Resources Corporation, noted:
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 time.
Magnum Hunter Resources
777 Post Oak Blvd.
Houston, TX 77056
Magnum Hunter Resources Corporation is an independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in West Virginia, Kentucky, Ohio, Texas, North Dakota and Saskatchewan, Canada. The Company is 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. Magnum Hunter Resources is based in Houston, Texas.