One-Page Deal Sheet
Magnum Hunter Resources Sells Interest to Approach Resources
Approach Resources, Inc. Magnum Hunter Resources Corp.
Announced Date
November 01,2010
Effective Date
October 01,2010
Close Date
October 29,2010
Transaction Type
Property
Enterprise Value (EV)($MM)
22
Transaction Details: Subscribe to see
HOUSTON, TX--(Marketwire - November 1, 2010) - Magnum Hunter Resources Corporation (NYSE Amex: MHR) (NYSE Amex: MHR-PC) ("Magnum Hunter," or the "Company") announced this morning that the Company has entered into a definitive purchase and sale agreement with a subsidiary of Approach Resources, Inc. (NASDAQ: AREX) ("Approach") for the sale to Approach of Magnum Hunter's 10.0% non-operated working interest in the Cinco Terry property located in Crockett County, Texas. Total cash consideration of the sale to Approach is $21.5 million, subject to customary adjustments. The sale is deemed…
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