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Magnum Hunter Resources Corporation announced that the Company's oil and gas production increased ~66% for the three months ended March 31, 2015 to ~14.7 Bcfe (~2.5 million Boe) or an average of ~163.6 MMcfe (~27,261 Boe) per day (74% natural gas, 13% oil and 13% NGLs), compared with production of ~8.9 Bcfe (~1.5 million Boe) or an average of ~98.6 MMcfe (~16,433 Boe) per day (56% natural gas, 29% oil and 15% NGLs) for the three months ended March 31, 2014.
The increase in production was attributable primarily to the Company's expanded 2014 drilling program in its core areas of operations and production results from the Marcellus and Utica Shale plays.
During the first quarter of 2015, Eureka Hunter Pipeline, LLC ("Eureka Hunter") completed four new pipeline interconnects. This brings the total active interconnects on the Eureka Hunter system to nine. Eureka Hunter realized significant increases in the throughput volumes on its gathering system in the first quarter of 2015.
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter, commented, "This was an exceptional quarter for growth in both production volumes and throughput volumes at Magnum Hunter and Eureka Hunter. More importantly, these operating results for the month of March 2015 alone reflect how quickly we continue to grow our overall volumes due to the prolific nature of the reservoirs within our core operating regions."