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Industry Brief

Magnum Hunter Resources Corp. said in a filing with the U.S. Securities and Exchange Commission (SEC) that it has acquired 25,820 net acres in Noble, Washington and Monroe Counties, OH, or about 80% of the assets it previously agreed to purchase from Ohio-based MNW Energy LLC. Under a purchase agreement in June, Magnum said it would buy 32,000 net acres from MNW on a staggered basis as title work for the properties cleared. Most recently, it acquired 2,665 gross acres in Washington County for $11.7 million. As part of that deal, the village of New Matamoras received a more than $307,000 lease signing bonus for 72 acres of village-owned land, which far surpassed its general fund budget of $121,368 last year.  

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