Capital Markets | Capital Expenditure
Magnum Hunter Plans Tri-Shale Ops for 2013
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Magnum Hunter Resources Corp. has provided details its 2013 CapEx.
The Company's Board of Directors has approved a capital expenditure budget for fiscal year 2013 of $300 million for upstream activities.
The 2013 budget will be evenly allocated to fund the exploration and development programs within the Company's three unconventional resource plays:
the Williston Basin -- Bakken/Three Forks Sanish/Madison; the Appalachian Basin -- liquids rich Marcellus/Utica/Huron/Weir; and, the Eagle Ford Shale oil play of Central and South Texas.The Company believes the 2013 capex budget will allow for an estimated 2013 production exit rate of 23,000 Boepd - 25,000 Boepd. This represents an estimated growth rate of 24% - 35% in exit rates when comparing 2013 to 2012. These substantial growth…
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