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 April 15, 2015 - 7:00 AM EDT
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Magnum Hunter Resources Announces First Quarter 2015 Production Results

Production of ~14.7 Bcfe (~2.5 MMBoe); ~66% Increase Over First Quarter 2014

HOUSTON, TX--(Marketwired - Apr 15, 2015) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) (NYSE MKT: MHR.PRE) (the "Company" or "Magnum Hunter") announced that the Company's oil and gas production increased ~66% for the three months ended March 31, 2015 to ~14.7 Bcfe (~2.5 million Boe) or an average of ~163.6 MMcfe (~27,261 Boe) per day (74% natural gas, 13% oil and 13% NGLs), compared with production of ~8.9 Bcfe (~1.5 million Boe) or an average of ~98.6 MMcfe (~16,433 Boe) per day (56% natural gas, 29% oil and 15% NGLs) for the three months ended March 31, 2014. The increase in production was attributable primarily to the Company's expanded 2014 drilling program in its core areas of operations and production results from the Marcellus and Utica Shale plays.

Average Monthly Production (Mcfe/d)
Jan-15   Feb-15   Mar-15
136,595   169,711   184,993
Jan-14   Feb-14   Mar-14
87,398   111,294   98,325
% Increase Year-Over-Year
January   February   March
56.3%   52.5%   88.1%

During the first quarter of 2015, Eureka Hunter Pipeline, LLC ("Eureka Hunter") completed four new pipeline interconnects. This brings the total active interconnects on the Eureka Hunter system to nine. Eureka Hunter realized significant increases in the throughput volumes on its gathering system in the first quarter of 2015.

Average Monthly Throughput (MMBtu/d)
Jan-15   Feb-15   Mar-15
362.0   348.8   514.2
Jan-14   Feb-14   Mar-14
134.4   156.5   171.3
% Increase Year-Over-Year
January   February   March
169.3%   122.9%   200.2%

Magnum Hunter Management Comments

Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter, commented, "This was an exceptional quarter for growth in both production volumes and throughput volumes at Magnum Hunter and Eureka Hunter. More importantly, these operating results for the month of March 2015 alone reflect how quickly we continue to grow our overall volumes due to the prolific nature of the reservoirs within our core operating regions."

About Magnum Hunter Resources Corporation

Magnum Hunter Resources Corporation and subsidiaries are a Houston, Texas based independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia and Ohio. The Company is presently active in two of the most prolific unconventional shale resource plays in North America, the Marcellus Shale and Utica Shale located in Northwest West Virginia and Southeast Ohio.

Availability of Information on the Company's Website

Magnum Hunter is providing a reminder that it makes available on its website (at a variety of information for investors, analysts and the media, including the following:

  • annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments to those reports as soon as reasonably practicable after the material is electronically filed with or furnished to the Securities and Exchange Commission;
  • the most recent version of the Company's Investor Presentation slide deck;
  • announcements of conference calls, webcasts, investor conferences, speeches and other events at which Company executives may discuss the Company and its business and archives or transcripts of such events;
  • press releases regarding annual and quarterly earnings, operational developments, legal developments and other matters; and
  • corporate governance information, including the Company's corporate governance guidelines, committee charters, code of conduct and other governance-related matters.

Magnum Hunter's goal is to maintain its website as the authoritative portal through which visitors can easily access current information about the Company. Over time, the Company intends for its website to become a primary channel for public dissemination of important information about the Company. Investors, analysts, media and other interested persons are encouraged to visit the Company's website frequently.

Certain information included on the Company's website constitutes forward-looking statements and is subject to the qualifications under the heading "Forward-Looking Statements" below and in the Company's Investor Presentation slide deck.

Forward-Looking Statements

This press release includes "forward-looking statements." All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Actual results could vary significantly from those expressed or implied in such statements and are subject to a number of risks and uncertainties. Although Magnum Hunter believes that the expectations reflected in the forward-looking statements are reasonable, Magnum Hunter can give no assurance that such expectations will prove to be correct. The forward-looking statements involve risks and uncertainties that affect operations, financial performance, and other factors as discussed in filings made by Magnum Hunter with the Securities and Exchange Commission (SEC). Among the factors that could cause results to differ materially are those risks discussed in the periodic reports filed by Magnum Hunter with the SEC, including Magnum Hunter's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and its Quarterly Reports on Form 10-Q for the fiscal quarters ended after such fiscal year. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, specifically those under the heading "Risk Factors." Forward-looking statements speak only as of the date of the document in which they are contained, and Magnum Hunter does not undertake any duty to update any forward-looking statements except as may be required by law.

Cham King
AVP, Investor Relations
(832) 203-4560

Source: Marketwired (April 15, 2015 - 7:00 AM EDT)

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