Magnum Hunter Resources Corp. (MHR) Reports Strong Increase in Production
Magnum Hunter Resources Corp. released an operational update on its oil and gas properties for the full year 2009. The company drilled 33 gross wells during the year. Magnum Hunter Resources Corporation reported average daily production of 703 barrels of oil equivalent (BOE) in 2009, a 23% increase over the 572 BOE of average daily production in 2008. The company said that this production was composed of 70% crude oil and 30% natural gas liquids. Magnum Hunter Resources Corporation attributed the strong increase in production to the development of the Mohall Madison field of North Dakota. Magnum Hunter Resources Corporation…