Magnum Hunter Resources is acquiring approximately 51,500 net Appalachian Basin mineral acres located in West Virginia and Ohio.
- This acreage position includes approximately 27,000 net acres in the liquids-rich Marcellus Shale, of which 19,000 are located in Ritchie County, West Virginia and 8,000 are located in Washington and Monroe Counties, Ohio.
- Management has identified 105 gross drilling locations on the Virco acreage which is broken down as follows:
- 74 Marcellus drilling locations
- 31 Utica drilling locations
- Upon the financial closing of this transaction, the Company will have over 85,500 net acres in the liquids-rich Marcellus Shale and 81,800 net acres located within the Utica Shale.
Joseph F. Barone