Magnum Hunter 1Q13 Update: More Drilling in Marcellus/Utica

This morning Magnum Hunter Resources, a drilling and midstream (pipeline) company issued an update for their first quarter 2013 operations. According to CEO Gary Evans, Magnum Hunter is due to close on the sale of their Eagle Ford Shale assets to Penn Virginia for $401 later this month. They plan to reinvest the proceeds in drilling in the Marcellus and Utica Shale region, along with more drilling in North Dakota's Williston Basin (Bakken Shale play).

Here are the sections from today's announcement dealing with the Marcellus/Utica:

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