Magnum Hunter (MHR -4.7%) agrees to buy certain Williston Basin oil and gas properties from...

|About: Magnum Hunter Resources Corp. (MHRCQ)|By:, SA News Editor

Magnum Hunter (MHR -4.7%) agrees to buy certain Williston Basin oil and gas properties from Baytex Energy (BTE -0.4%) for ~$311M, giving it greater exposure in one of North Dakota's most active shale resource plays. MHR plans to increase its upstream capex budget by $75M-$225M, mostly to account for expected additional spending for the acquired properties.