In Magnum Hunter's second quarter report, the company announced its decision to sell its Divide County, North Dakota operated/non-operated properties and reallocate resources to core operations in the Appalachian Basin. Baytex Energy, Continental Resources, or Samson Resources are all likely buyers for the acreage.
Magnum Hunter currently holds 102,000 net acres in Divide County, with an additional 50,000 net acres in Canada. Across its Williston Basin assets (152,000 net acres), the company currently has 255 gross producing wells.
Magnum Hunter Bakken Operations Update
During the second quarter of 2014, Magnum Hunter participated in 13 gross (2.4 net) wells and the completion of six gross (1.3 net) wells in Divide County. Magnum Hunter's Q2 upstream capex in the Bakken amounted to $33.2-million.
At the end of June, operators of Magnum Hunter's non-operated properties in Divide County electrified ~113 gross wells and tied in approximately 183 gross wells into the Oneok, Inc. gas gathering system. Magnum Hunter officials say production and revenues from the gathering of associated gas from the tied-in wells are growing monthly.