Magnum Hunter To Acquire More Acreage in Four (4) North Dakota Counties -- Bakken, North Dakota, USA

Magnum Hunter to acquire more mineral acres, producing wells, and other assets from unspecified seller.

Link here.

Data points:

• Property, producing wells, leases within four (4) North Dakota counties
• 15,500 gross acres (by my calculations, about 7,750 additional net acres)
• Gross production from these properties, currently: 833 boepd
• Total proved reserves in this property: 2.6 million bbls (estimate)
• Magnum Hunter currently owns 47% working interest in these oil and gas properties
• At closing, Magnum Hunter will own 97% working interest in these properties
• Total purchase price: $57 million ($55 million in cash; $2 million in Magnum Hunter common stock)
• The Seller is a private seller and was not identified in the link above (RigZone.com)