Magnum Hunter has released initial test results of the 3 Marcellus and 1 Utica wells at the Stewart Winland pad in Tyler County W.V. Also an update on their newest credit facilities and refinancing of their previous credit facility. Great news for those in Magnum/Triad's core areas.

HOUSTON, TX--(Marketwired - Oct 22, 2014) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") announced today that the Company has completed test results on its 100% owned Stewart Winland Pad located in Tyler County, West Virginia. The Stewart Winland Pad has four 100% owned recently completed wells (3 Marcellus and 1 Utica). 

The Stewart Winland 1301M was drilled and cased to a true vertical depth of 6,155 feet with a 5,762 foot horizontal lateral, and successfully fraced with 27 stages. The well tested at a peak rate of 17.0 MMCFE of natural gas per day (~23% Condensate and ~25% NGL) on an adjustable choke. 

The Stewart Winland 1302M was drilled and cased to a true vertical depth of 6,147 feet with a 5,676 foot horizontal lateral, and successfully fraced with 29 stages. The well tested at a peak rate of 17.1 MMCFE of natural gas per day (~19% Condensate and ~26% NGL) on an adjustable choke.

The Stewart Winland 1303M was drilled and cased to a true vertical depth of 6,149 feet with a 5,762 foot horizontal lateral, and successfully fraced with 29 stages. The well tested at a peak rate of 16.8 MMCFE of natural gas per day (~20% Condensate and ~26% NGL) on an adjustable choke.

As previously reported on September 24, 2014, the Company's 100% owned Stewart Winland 1300U (Utica well) tested at a peak rate of 46.5 MMCF of natural gas per day (~7,750 BOE per day) on an adjustable rate choke with 7,810 psi FCP. The Stewart Winland 1300U well was drilled and cased to a true vertical depth of 10,825 feet with a 5,289 foot horizontal lateral, and successfully fraced with 22 stages.

Management Comments

Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter, commented, "We are pleased to report our company's highest production test rates to-date on three recently completed Marcellus wells located in Tyler, County West Virginia. To have successfully completed four very high production rate wells (three Marcellus and one Utica) that have tested on a combined basis at 97.4 MMCFE per day on one single pad, is a testimony to both the quality of the rock underlying our Company's lease acreage as well as the knowledge and experience of our management team and field personnel and what they have learned over the past three years in drilling and completing over fifty wells in the region. Additionally, this type of production obviously has significant implications for our midstream subsidiary, Eureka Hunter Pipeline, LLC, where all of this new natural gas and liquids production is currently tied in."

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