Magnum Hunter Resources Corporation says that Bakken Hunter, LLC, a wholly-owned subsidiary of the Company, closed on the sale of certain non-core and non-operated working interests in oil and gas properties located in Divide County, North Dakota (the "Properties") to a privately held company affiliated with Formation Energy L.P.

The sales price of the Properties was $23,051,320 in cash, after taking into account customary purchase price adjustments, and was received by Magnum Hunter from this sale. The effective date of the transaction was April 1, 2014. The Properties currently account for approximately 170 BOE of average daily production, net to the ownership interest sold to the buyer, and consist of a non-operated working interest in approximately 34,600 gross (2,852 net) leasehold acres.

Tags: Magnum Hunter Resources Corporation