Magnum Hunter Resources Corp. is selling almost $41 million in undeveloped Utica shale acreage.
The oil and gas company, which has 210,000 acres of land under lease in eastern Ohio and West Virginia, said Tuesday it’s selling its interests in 5,210 acres in Tyler County, West Virginia, which borders the Ohio River.
Houston-based Magnum Hunter (NYSE:MHR) said the land was not in its long-term drilling plans. Many of the leases in the acreage are set to expire soon, CEO Gary Evans said in a statement.Read more by clicking here.
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