Magnum Hunter intends to drill minimum of four Utica test wells Magnum Hunter Resources announced that it intends to drill a minimum of four Utica test wells in Ohio this year. If results are similar to those experienced by offset Operators in the area, then further development on the leasehold position is planned later in the year, the company said. Anticipating favorable results, Magnum said it has already commissioned engineering drawings and Unit preparation on two additional Utica Pads.
Magnum Hunter announces dismissal of last remaining stockholder lawsuit Magnum Hunter announced that the 125th District Court of Harris County, Texas dismissed the last remaining stockholder derivative case against certain of the company's officers and directors filed alleging certain breaches of fiduciary duties and other matters in connection with the dismissal by the company of its independent registered public accounting firm in spring 2013. All of the shareholder lawsuits relating to these allegations have now been dismissed, and no cash settlements of any form have been paid by the company or any of the company's insurance carriers in connection with these lawsuits.