Magnum Hunter Resources Corporation says that the Company's wholly-owned subsidiary, Alpha Hunter Drilling, LLC has taken possession of a new Schramm T500XD robotic drilling rig.

The Company plans to utilize the Schramm T500XD drilling rig to drill exclusively Company owned wells planned in the Utica formation located in Southeastern Ohio for the next three years. With the addition of this new drilling rig, Alpha Hunter's fleet has now grown to five rigs.

Unlike traditional drilling rigs which are on rails and only allow movement from left to right or front to back, the T500XD has a walking subbase which lifts the entire rig six inches above the ground allowing the rig to turn and rotate. The rig can walk at a pace of 30 feet per hour and move a full 360 degrees.

Tags: Magnum Hunter Resources Corporation