Magnum Hunter Reported Production Guidance

Magnum Hunter Resources Corporation (NYSE:MHR) reported its production guidance for 2011 and 2012 due to higher production levels from new well completions.

As quoted in the press release:

The Company’s three operating divisions are currently producing at a combined production base in excess of 12,500 Boe per day, significantly above previous company guidance of 10,000 Boe per day as a projected 2011 exit rate.

Magnum Hunter’s Chairman and Chief Executive Officer, Mr. Gary C. Evans commented:

We are very fortunate to have three resource plays within our portfolio that are now ‘hitting on all cylinders’ and providing an increase in our overall production levels well above expectations.

Click here to read the Magnum Hunter Resources Corporation (NYSE:MHR) press release.