Magnum Hunter Resources Provides Operating Status of Shut-In Appalachian Production Due to Severe Weather

HOUSTON, TX--(Marketwire - Jul 2, 2012) - Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR-PrC) (NYSE MKT: MHR-PrD) ("Magnum Hunter" or the "Company") is providing a status report on the effect of the Company's production in the Appalachia region, which includes West Virginia and Ohio, from a severe thunderstorm that hit the area last Friday afternoon. Due to loss of electricity in the region, the storm resulted in approximately 30 million cubic feet equivalent per day ("mmcfepd") net to Magnum Hunter being shut-in over the past three days. The Company has subsequently brought approximately 70% of the wells back online and anticipates the remaining shut-in production to be back in service over the next five days. None of the Company's personnel were injured during this severe storm. 

Additionally, due to the storm and the after effects, the Company has experienced gas production curtailments at the tailgate of its pipeline into Dominion Transmission as it relates to power and start-up issues at their Hastings processing facility located in Hastings, West Virginia, which could possibly continue for several weeks. Currently, approximately 17% (5.8 mmcfepd) of Magnum Hunter's net production in this region is being curtailed.

About Magnum Hunter Resources Corporation

Magnum Hunter Resources Corporation and subsidiaries are a Houston, Texas based independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia, Kentucky, Ohio, Texas, North Dakota and Saskatchewan, Canada. The Company is presently active in three of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale and Williston Basin/Bakken Shale.

More information about Magnum Hunter is available at http://www.magnumhunterresources.com.

Forward-Looking Statements

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