Magnum Hunter Forms Joint Operating Agreement In Marcellus, Utica
January 2, 2013
Magnum Hunter Resources Corp. (NYSE: MHR) closed on a joint operating agreement with Eclipse Resources I LP.
The contract area covers an existing mineral leasehold position currently owned by both companies in the Marcellus Shale and Utica Shale formations located in Monroe County, Ohio.
Terms of the new agreement include Magnum Hunter's wholly owned subsidiary, Triad Hunter LLC, and Eclipse collectively working together within the contract area on an equal and joint basis on approximately 1,950 net mineral acres with the objective of drilling approximately 12 horizontal wells in the ...
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