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Magnum Hunter Resources Corp. (MHR) Issues Oil and Gas Update

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Magnum Hunter Resources issued an operational update on the company’s oil and gas development in the Williston Basin, where the company is pursuing the Three Forks Sanish formation.

Magnum Hunter Resources reported the production results of three recent wells drilled and completed into the Three Forks Sanish formation. The names and initial production rates for these wells are:

• Ranchero 18-19-163-98 – 862 barrels of oil equivalent (NYSE:BOE) per day
• Impala 23-14-163-98 – 673 BOE per day
• Geralyn Marie 34-163-99 – 565 BOE per day

All three wells are located in Divide County, North Dakota. Magnum Hunter Resources Corporation has 27 gross wells that are either being completed or waiting for hydraulic fracturing services.

Magnum Hunter Resources reported that total company production from the Williston Basin reached 1,670 BOE per day as of 9/30/011. The company expects that production will end 2011 at a rate of 2,300 BOE per day.

Magnum Hunter Resources operates its exploration and production operations under three wholly owned subsidiaries of the company – Williston Hunter Canada, Inc., PRC Williston LLC, and Williston Hunter Inc. The company has approximately 81,000 net acres under lease in North Dakota and Saskatchewan, Canada.

For more information on the company, go to magnumhunterresources.com

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