Magnum Hunter Resources Sells Eagle Ford Properties for $401 Million to Penn Virginia Corp; Deal Helps Both Companies’ Growth Plans
April 3, 2013
Magnum Hunter Resources (ticker: MHR) entered into a definitive agreement to sell production from 49 wells on 19,000 net mineral acres to Penn Virginia (ticker: PVA) for a total purchase price of $400 million, $361 million in cash and $40 million in PVA stock. PVA shares will be issued at $4.00 per share which implies 10 million new shares. As
