Magnum Hunter Resources Announces New Record Throughput Volumes at Eureka Hunter of ~835,000 MMBtu per Day
IRVING, TX--(Marketwired - Dec 14, 2015) - Magnum Hunter Resources Corporation (OTC PINK: MHRC) ("Magnum Hunter" or the "Company") announced today that throughput volumes on Eureka Hunter Pipeline, LLC's gas gathering pipeline system located in West Virginia and Ohio reached a new record high throughput volume of approximately 835,000 MMBtu per day on the first of December. Magnum Hunter owns a substantial equity interest in Eureka Hunter Pipeline, LLC ("Eureka Hunter") of approximately 45 percent. Eureka Hunter's current throughput volumes represent an approximate 16% increase from reported volumes in July 2015.
Magnum Hunter Management Comments
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter and Eureka Hunter commented, "These new record throughput volumes on the Eureka Hunter pipeline system, during this period of unprecedented declines in overall drilling activity due to extremely low commodity prices, are a testimony to the resource value not only of this region, but what has been created by the hard work of our management team over the past couple of years. The results from the combination of new interconnects with other pipelines, operational superiority, and exceptional service to existing customers, have allowed for this substantial growth being experienced at Eureka Hunter to continue."
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are an Irving, 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.
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.
Source: Marketwired (Canada)
(December 14, 2015 - 5:41 PM EST)
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