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.