Magnum Hunter Closes Deal to Sell Non-Core Undeveloped Leasehold Acreage in Tyler County for ~$33.6M in Cash

Magnum Hunter Resources Corporation

(the "Company" or "Magnum Hunter") announced today that Triad Hunter, LLC, a wholly-owned subsidiary of the Company, has closed on the previously announced definitive agreement (see Press Release dated May 26, 2015) to sell certain non-core undeveloped and unproven leasehold acreage located in Tyler County, West Virginia (the "Properties") to an independent exploration and production company. At closing, Triad Hunter, LLC received total consideration of approximately $33.6 million in cash, subject to post-closing adjustments for any title defects and for remediation of asserted title defects, which adjustments are anticipated to increase the ultimate cash sales price to $35.0 - $40.0 million on or before July 15, 2015. The Properties sold consisted of ownership interests in approximately 5,210 net leasehold acres and included no existing production or proved reserves.