Magnum Hunter Resources Corp. (NYSE: MHR), which plans to exit the Bakken, said significant liquidity events could be seen during the next 30 days.

Magnum’s Bakken assets are estimated to be worth $350 to $450 million, said Gabriele Sorbara, analyst for Topeka Capital Markets.

The company’s liquidity is tight at $49.1 million, comprised of about $42.1 million of cash and $7 million of availability under its borrowing base.

In an Aug. 8 conference call, Gary Evans, chairman and CEO of Magnum, said the company has three significant liquidity events it’s working on, none of which include capital market transactions.

“We recognize the need for additional liquidity,” he said, according to a transcript by seekingalpha.com. “We have things that the board has approved that we hopefully will announce in the near future once we get the definitive agreements. And these events are significant.”

Magnum has lately put more emphasis and money on dry gas Utica wells.

In June, Magnum said it would partner with EM Energy Ohio LLC (EdgeMarc) to develop 1,080 net acres of mineral leasehold in the Marcellus and Utica.

The joint venture might cover a bit more than 1,000 acres of land in the Marcellus and Utica, but it fits part of a larger goal Magnum might be pursuing to make the Appalachian Basin home turf.

Magnum Hunter is pushing in the Utica in particular, where it has built an 118,000 net acre position. Its 2014 capital budget focuses predominately on high-return areas in the Appalachian Basin.

MHR’s highly anticipated dry gas Utica well off the Stewart Winland pad in Tyler County is expected by mid-September. With numerous new/shut-in Marcellus/Utica wells expected to come on late this year, management reaffirmed its year-end exit rate guidance of 32.5 thousand barrels of oil equivalent per day (Mboe/d).

“We continue to believe MHR’s asset base provides numerous opportunities to improve its balance sheet/capitalization,” Sorbara said.

In particular, MHR retains its core Marcellus and Utica assets. In Appalachia, MHR is currently producing 11 Mboe/d, and estimates to have an additional 5 Mboe/d coming online from eight horizontal wells currently shut-in.