MHRC on the OTC market Message Board

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Gold/Mining/Energy : MHRC on the OTC market

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From: JakeStraw	2/17/2012 8:24:08 AM
	of 188

Magnum Hunter Resources Announces $25 Million Acquisition of Utica Shale Properties finance.yahoo.com Mr. Gary C. Evans, Chairman and Chief Executive Officer of Magnum Hunter, commented, "This acquisition represents another 'bolt-on' transaction in one of Magnum Hunter's core unconventional resource plays. It is truly a win-win acquisition because it not only significantly expands our existing acreage position in a strategic region in Ohio at a very attractive price per acre, but also now provides the expansion opportunity for our midstream business, Eureka Hunter Pipeline, to immediately begin construction work into a region presently not served by other competitors, yet greatly controlled now by our upstream Appalachian Division. Given that nearly all the acreage is held by shallow production, this provides the Company maximum flexibility in the development of the land."

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