Magnum Hunter Agrees to Buy Williston Basin Properties for $30M

Magnum Hunter Resources Corporation

announced today that its wholly-owned subsidiary, Bakken Hunter, LLC, has entered into a definitive purchase agreement to acquire existing wells and approximately 20,000 net Williston Basin lease acres located in Divide County, North Dakota, from Samson Resources Company for $30 million in cash. The transaction, which is subject to customary closing conditions, is expected to close on or about December 20, 2012, with an effective date of August 1, 2012. The purchase price is subject to customary adjustments, to take into account the effective date of the transaction.