Magnum Hunter Resources (MHR) spud its first Eagle Ford Shale well on 6/1/2010. The well is located in Gonzales County, Texas. The company plans to drill 2 additional horizontal wells in the Eagle Ford Shale in 2010, most likely in Atascosa County, Texas.
Magnum Hunter Resources has allocated $30 million in capital expenditures in 2010 to develop its acreage in the Eagle Ford Shale in Texas. This represents 56% of the total capital budget for the company.
Magnum Hunter Resources has acreage prospective for the Eagle Ford Shale in the following counties in Texas:
Gonzales County –14,750 net acres
Fayette and Lee Counties – 3,764 net acres
Atascosa County – 3,000 net acres
