New Standard Energy Completes Drilling Operations on its First Eagle Ford Wells

Production Slated to Begin in April or Early May
Magnum Hunter Resources Eagle Ford Acreage Map

Magnum Hunter Resources Eagle Ford Acreage Map

Australia-based New Standard Energy completed drilling operations on its second Eagle Ford well (Peeler Ranch 6-H) in late March 2014. The first well (Peeler Ranch-5H) was completed at the end of February 2014.┬áNew Standard entered the Eagle Ford in December 2013 when the company acquired Magnum Hunter Resources’ Eagle Ford assets in Atascosa County, TX.

The wells are operated on the company’s behalf by Magnum Hunter. New Standard has a 98.4375 % working interest and a 72.4125 % net royalty interest in the two wells.

[Read more…]

Magnum Hunter Signs Option To Sell Pearsall & Eagle Ford Assets ~$25 Million

MHR Turns Focus to the Marcellus and Utica Shales
Magnum Hunter Resources Acreage Map

Magnum Hunter Resources Acreage Map | Click to Enlarge

Magnum Hunter (MHR) has granted New Standard Energy, an Australian company, the option to acquire Pearsall Shale and Eagle Ford Shale assets in Atascosa County.

New Standard paid $75,000 for the option and will pay an additional $15 million in cash and $9.5 million in equity.

In total, Magnum Hunter will receive a little less than $25 million for ~5,200 net acres and 300 boe/d of production from five wells. New Standard has until January 21, 2014, to exercise the option. [Read more…]

Magnum Hunter Resources Completes Sale To PVA – Still Targeting Eagle Ford & Pearsall

Pearsall Well Produces Almost 600 Boe/d
Magnum Hunter Resources Acreage Map

Magnum Hunter Resources Acreage Map | Click to Enlarge

Magnum Hunter Resources (MHR) completed the sale of 19,000 net acres in the Eagle Ford to Penn Virginia for approximately $400 million in the second quarter. The deal was for the majority of the company’s Eagle Ford holdings.

Magnum Hunter retained approximately 7,000 net acres prospective for the Eagle Ford and Pearsall Shale formations in Atascosa, Fayette, and Lee counties. Two wells were completed and the company plans to explore and develop its acreage further. [Read more…]

Penn Virginia & Magnum Hunter Eagle Ford Deal Worth $401 Million

Penn Virginia Pays Approximately $12,000 Per Acre
Penn Virginia Eagle Ford Map

PVA – MHR Eagle Ford Map April 2013 | Click to Enlarge

Penn Virginia (PVA) has reached an agreement with Magnum Hunter Resources to acquire the company’s Eagle Ford properties in Gonzales and Lavaca counties for $401 million. Magnum Hunter will retain 7,000 net acres in Atascosa, Fayette, and Lee counties. [Read more…]

Where Are Oil & Natural Gas Prices Headed? Gary Evans of MHR

Natural Gas Prices Expected To Have Much More Upside

Where are natural gas prices and oil prices headed in 2013? Gary Evans discusses his view US oil & gas prices in the video below. [Read more…]

Magnum Hunter Adds Pearsall & Eagle Ford Acreage in Atascosa County

1,885 acres were acquired at a cost of $1,246 per acre
Magnum Hunter Atascosa Pearsall Acreage

Magnum Hunter’s Atascosa Acreage | Click to Enlarge

Magnum Hunter Resources added 1,885 net acres to its holdings in Atascosa County for approximately $2.35 million. The company now has over 7,000 gross (5,000 net) acres in the area with potential for 40 net Pearsall Shale locations.

The Company’s Atascosa core area appears to have an ideal geologic setting for the Pearsall development. Management believes the area to be located within the “wet gas to rich condensate window.” The area is bound by the Charlotte fault trend eight miles to the north and the Karnes fault trend to the south. The Pearsall Shale is located about 2500′ beneath the Eagle Ford Shale and is approximately 500-600′ in thickness. Composed of interbedded organic shale, silica and limestone, the Pearsall Shale is similar in composition to the Eagle Ford Shale.

Read the full press release at magnumhunterresources.com

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