Magnum Hunter Resources (MHR) disclosed information on one of its Eagle Ford Shale prospects located in Texas.
The Alright Prospect is located in Atascosa County, Texas, and comprises 5,393 gross acres. Magnum Hunter Resources believes that it has 9 possible well locations on its acreage here, and spud its first well in June 2010.
Magnum Hunter Resources estimates that its completed well costs here will range from $5.25 - $6.0 million, and have an estimated ultimate recovery (EUR) of 215,000 to 360,000 barrels oil equivalent (BOE). The company is looking for initial production rates from 350-600 barrels of oil per day.
