Magnum Hunter Resources Corporation reported that the Company's wholly owned subsidiary, Williston Hunter ND, LLC, has closed on the previously announced acquisition of oil & gas properties owned by Eagle Operating Inc. ("Eagle").

The acquisition includes all of Eagle's operated working interest ownership in oil and gas mineral leases and 191 existing wells on approximately 15,500 gross mineral acres located within four counties of the Williston Basin of North Dakota. Current net production from the acquisition is approximately 350 barrels of oil equivalent per day.

Total proved reserves attributable to the acquired properties are estimated at 2.1 million barrels of oil equivalent. Magnum Hunter has previously owned an approximate 47% working interest in these oil and gas properties and with this closing, now owns an approximate 95% working interest. The effective date of the transaction is April 1 of last year.

Tags: Magnum Hunter Resources Corporation