Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Magnum Hunter Focuses 2014 Spending on Appalachian Ops
Print
|
Magnum Hunter Resources Corporation has approved a $400 million capital expenditure budget for fiscal year 2014, excluding acquisitions.
The Company intends to allocate approximately $260 million in the Utica Shale and Marcellus Shale plays, approximately $50 million in the Williston Basin and approximately $90 million for midstream activities at Eureka Hunter Pipeline. The contemplated capital budget includes the acquisition of mineral leases in both the Utica Shale and Marcellus Shale plays. This Appalachian-focused capital program is expected to further drive the Company's production volumes and enable it to achieve its 2014 projected exit production rate of 35,000 BOEPD.
The 2014 capital budget of $400 million is expected to be funded from a combination of internally-generated cash…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations