Magnum Hunter completes testing of WVDNR Pad wells in West Virginia; initiates production

HOUSTON -- Magnum Hunter Resources has announced that the company's four new wholly owned WVDNR Pad wells (#1410, #1411, #1412 and #1413), located in Wetzel County, West Virginia, have been recently placed on production after several weeks of testing.

Currently, all seven of the company's wholly owned Marcellus shale wells, which included three previously shut-in wells, on the WVDNR Pad are flowing to sales. The WVDNR Pad is currently producing approximately 35 MMcfd.

The WVDNR #1410 well was drilled and cased to a true vertical depth of 7,500 ft with a 4,350 ft horizontal lateral, and successfully fraced with 23 stages. The well tested at a peak rate of 12,966 MMcfd (17% NGLs and 3% condensate) with an energy content of 1,175 btu on an adjustable choke with 2,250 PSI flowing casing pressure.

The WVDNR #1411 well was drilled and cased to a true vertical depth of 7,500 ft with a 4,048 ft horizontal lateral, and successfully fraced with 21 stages. The well tested at a peak rate of 10,761 MMcfd (18% NGLs and 1% condensate) with an energy content of 1,175 btu on an adjustable choke with 1,493 PSI flowing casing pressure.

The WVDNR #1412 well was drilled and cased to a true vertical depth of 7,500 ft with a 4,842 ft horizontal lateral, and successfully fraced with 24 stages. The well tested at a peak rate of 12,992 MMcfd (17% NGLs and 3% condensate) with an energy content of 1,175 btu on an adjustable choke with 1,984 PSI flowing casing pressure.

The WVDNR #1413 well was drilled and cased to a true vertical depth of 7,500 ft with a 5,807 ft horizontal lateral, and successfully fraced with 29 stages. The well tested at a peak rate of 13,321 MMcfd (17% NGLs and 3% condensate) with an energy content of 1,175 btu on an adjustable choke with 2,456 PSI flowing casing pressure.

The company's other three completely owned Marcellus shale wells on the WVDNR Pad (#1207, #1208 and #1209) were previously tested at a combined peak rate of approximately 29.1 MMcfd.

Gary C. Evans, Chairman of the Board and CEO of Magnum Hunter, commented, "Due to inclement weather experienced in the Northeast, our complete testing of these new wells was somewhat delayed. This production pad is very meaningful to our company and further exemplifies the high quality production characteristics of the southern Marcellus formation in West Virginia."