Wunderlich Securities Sees Good Things Ahead For Magnum Hunter Resources Corp

In a report published Thursday, Wunderlich Securities analyst Irene O. Haas reiterated a Buy rating and $13.00 price target on

. In the report, Wunderlich Securities noted, “Another monster well in the Utica-Point Pleasant dry gas belt. The Stewart Winland 1300U well located in Tyler County, West Virginia was placed on production last weekend. This well tested at a peak rate of 46.5 mmcf/d (or 7,750 boepd) with a choke size of 32/64 inches and 7,810 psi FCP. The well was drilled to a true vertical depth of 10,825' with a 5,289' horizontal lateral and a 22-stage frac. The well has been flowing to sales through Eureka Hunter Pipeline System. This is one of the best tests thus far in the region even surpassing Rice Energy's (RICE-NR) Big Foot well, which tested at 41.7 mmcf/d.” Magnum Hunter Resources Corp closed on Wednesday at $5.46.