Magnum Closes Sale Of Certain Non-Core Assets - Quick Facts

(RTTNews) - Energy company Magnum Hunter Resources Corp (MHR), Tuesday announced that Bakken Hunter, LLC, a unit of the company, closed on the sale of certain non-core and non-operated working interests in oil and gas properties located in Divide County, North Dakota to a privately held company affiliated with Formation Energy L.P. The sales price of the properties was $23 million in cash, after taking into account customary purchase price adjustments.

The sold properties currently account for about 170 BOE of average daily production, net to the ownership interest sold to the buyer, and consist of a non-operated working interest in approximately 34,600 gross (2,852 net) leasehold acres.