Magnum Hunter Resources
Corporation MHR 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
time."
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in