Magnum Hunter announces operational update, FY13 capex budget Magnum Hunter Resources announced an operational update on each of the company's upstream unconventional resource plays for Q4 and provided an operational update for the company's midstream division, Eureka Hunter Pipeline. During Q4, the Eagle Ford division placed on production 6 gross operated wells and 1 gross non-operated wells in the Eagle Ford Shale of South Texas. The company's board has approved a capital expenditure budget for FY13 of $300M for upstream activities. Magnum Hunter believes the 2013 capex budget will allow for an estimated 2013 production exit rate of 23,000 Boepd - 25,000 Boepd. This represents an estimated growth rate of 24% - 35% in exit rates when comparing 2013 to 2012.
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