Magnum Hunter Resources (MHR) issued an operational update on the company’s South Texas oil and gas activity. The company has 51,664 gross acres prospective for the Eagle Ford Shale in Gonzales and Lavaca Counties.
Magnum Hunter Resources has put two Eagle Ford Shale wells onto production in September 2011 and disclosed the following details on the wells:
Oryx Hunter #1H - initial flowing production rate of 2,044 barrels of oil equivalent (BOE) per day, composed of 1,944 barrels of oil and 600,000 cubic feet of natural gas per day.
Sable Hunter #1H - initial twenty four hour production rate of 1,017 BOE per day, composed of 921 barrels of oil and 581,000 cubic feet of natural gas per day.
Magnum Hunter Resources has seven other Eagle Ford Shale wells either drilling or getting prepared for drilling. These wells are the Furrh #2H, Kudu Hunter #1H, Snipe Hunter #1H, Gonzo North #2H, Shiner Hunter #1H, Southern Hunter #2H and the Shiner Hunter #2H.