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News Breaks | | | | January 23, 2013 | | 08:20 EDT |  | MHR | Magnum Hunter says proved reserves up 63% to 73.1M Boe
Magnum Hunter Resources announced a 63% increase in the quantity of the company's estimated total proved oil and gas reserves at December 31, 2012 as compared to last year. Magnum Hunter's total proved reserves increased by 28.2M barrels of oil equivalent, or Boe, to 73.1M Boe, including 62.9% crude oil and ngls; 52% proved developed producing, at December 31, 2012 as compared to 44.9M Boe, including 48% crude oil and ngls; 51% proved developed producing, at December 31, 2011. The present value of estimated future cash flows, before income taxes, of the company's estimated total proved reserves as of year-end 2012, discounted at 10%, also increased 59% to $981.2M as compared to one year ago. The company's reserve life based on current production is approximately 10.8 years. | |
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News For MHR From The Last 14 Days Check below for free stories on MHR the last two weeks. |
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| May 14, 2013 | | 07:16 EDT |  | MHR | Citigroup to host a conference
2013 Global Energy & Utilities Conference is being held in Boston on May 14-16. | | | May 8, 2013 | | 11:41 EDT |  | MHR | High option volume stocks: MHR FIO DSS NBL WBMD
 Subscribe for More Information | | | May 7, 2013 | | 08:28 EDT | | MHR | Magnum Hunter subsidiary announces acquisition of new drilling rig for the Utica
Magnum Hunter announced that the company's wholly-owned subsidiary, Alpha Hunter Drilling has taken possession of a new Schramm T500XD robotic drilling rig. The company plans to utilize the Schramm T500XD drilling rig to drill exclusively company owned wells planned in the Utica formation located in Southeastern Ohio for the next three years. With the addition of this new drilling rig, Alpha Hunter's fleet has now grown to five rigs. | |
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