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Blue Chip Growth

Stock Report: () Report Updated: Feb 08, 2016 | Print This Page

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Company Profile

Magnum Hunter Resources Corporation, an independent oil and gas company, engages in the acquisition, exploration, exploitation, development, and production of crude oil, natural gas, and natural gas liquids primarily in West Virginia, Ohio, Texas, Kentucky, and North Dakota, as well as in Saskatchewan, Canada. As of February 27, 2012, the company owned approximately 560,072 net acres, with 170,000 net acres in its core resource areas, including approximately 58,426 net acres in the Marcellus Shale; 61,151 net acres in the Utica Shale; 24,000 net acres in the Eagle Ford Shale; and 75,814 net acres in the Williston Basin. It also had working interest in 15 fields located in the Williston Basin in North Dakota comprising 151 wells and approximately 6,540 net acres, as well as operated 33 vertical and 16 horizontal Marcellus Shale wells. In addition, the company owns property interests in approximately 2,000 operated wells and 87,000 net mineral acres located in the states of Kentucky, Ohio, and West Virginia; a natural gas pipeline; 2 commercial salt water disposal facilities; 3 drilling rigs; workover rigs; and other oilfield equipment. As of December 31, 2011, its proved reserves comprised 44.9 million barrels of crude oil equivalent. The company was formerly known as Petro Resources Corporation and changed its name to Magnum Hunter Resources Corporation in July 2009. Magnum Hunter Resources Corporation was incorporated in 1997 is headquartered in Houston, Texas.

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