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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Dale Baker1/15/2014 8:57:35 AM
   of 206181
 
Magnum Hunter reports proved reserves up 23% Y/Y • 8:47 AM

  • Magnum Hunter ( MHR) reports total proved oil and natural gas reserves of 75.9M boe at year-end 2013, up 23% from year-end 2012.
  • Proved developed producing reserves rose 16% to 39.6M boe as of Dec. 31, mostly due to drilling in the Appalachian Basin; proved undeveloped reserves gained 23% to 27.4M boe, primarily due to the execution and delineation of the existing lease acreage position in the Marcellus Shale.

  • Expects to significantly increase reserves in the Utica Shale during 2014 as a result of pad drilling and delineation of its lease acreage position.
  • MHR +2.5% premarket.
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