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EX-2.1 - EX-2.1 - MAGNUM HUNTER RESOURCES CORPa14-21881_1ex2d1.htm
EX-99.1 - EX-99.1 - MAGNUM HUNTER RESOURCES CORPa14-21881_1ex99d1.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 


 

Date of Report (Date of earliest event reported):

October 6, 2014 (September 30, 2014)

 


 

MAGNUM HUNTER RESOURCES CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

Delaware

(State or Other Jurisdiction of
Incorporation)

 

001-32997

(Commission File Number)

 

86-0879278

(I.R.S. Employer Identification
Number)

 

777 Post Oak Boulevard, Suite 650

Houston, Texas 77056

(Address of principal executive offices, including zip code)

 

(832) 369-6986

(Registrant’s telephone number, including area code)

 

Not applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 1.01                                           Entry into a Material Definitive Agreement.

 

On September 30, 2014, Bakken Hunter, LLC (“Seller”), a wholly-owned subsidiary of Magnum Hunter Resources Corporation (“Magnum Hunter”), entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with LGFE-BH L.P., a Delaware limited partnership and affiliate of Formation Energy L.P. (“Purchaser”).  Pursuant to the Purchase and Sale Agreement, Seller sold to Purchaser all of Seller’s right, title and interest in and to certain non-operated working interests (the “Interests”) in oil and gas properties located in Divide County, North Dakota.  The transaction closed on September 30, 2014.  The effective date of the transaction was April 1, 2014.

 

Under the Purchase and Sale Agreement, the sales price for the Interests was $23,500,000 in cash (the “Sales Price”).  After taking into account customary initial sales price adjustments as provided for in the Purchase and Sale Agreement, the Sales Price was adjusted to $23,051,320 (subject to post-closing true-ups), which amount was received in cash by Seller on September 30, 2014.

 

The Interests sold to Purchaser accounted for approximately 170 BOE of average daily production, net to the Interests, and consisted of non-operated working interests in approximately 34,600 gross (2,852 net) leasehold acres.

 

The Purchase and Sale Agreement contains customary representations, warranties, covenants and indemnities by the parties thereto.

 

The foregoing description of the Purchase and Sale Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text thereof, a copy of which is attached to this Current Report on Form 8-K as Exhibit 2.1 and incorporated herein by reference.

 

Item 7.01                                           Regulation FD Disclosure.

 

On September 30, 2014, Magnum Hunter issued a press release announcing that Seller had closed on the sale of the Interests to Purchaser pursuant to the Purchase and Sale Agreement.  A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

 

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including the attached Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filing of Magnum Hunter under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.

 

Item 9.01                                           Financial Statements and Exhibits.

 

(d)                                 Exhibits

 

Exhibit
Number

 

Description

2.1

 

Purchase and Sale Agreement, dated September 29, 2014, entered into on September 30, 2014, between Bakken Hunter, LLC and LGFE-BH L.P.*

 

 

 

99.1

 

Press release of Magnum Hunter Resources Corporation, dated September 30, 2014.

 


*                Pursuant to Item 601(b)(2) of Regulation S-K, certain schedules and similar attachments have been omitted. The registrant hereby agrees to furnish a copy of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.

 

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SIGNATURES

 

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

MAGNUM HUNTER RESOURCES CORPORATION

 

 

Date: October 6, 2014

/s/ Gary C. Evans

 

Gary C. Evans,

 

Chairman and Chief Executive Officer

 

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INDEX TO EXHIBITS

 

Exhibit
Number

 

Description

2.1

 

Purchase and Sale Agreement, dated September 29, 2014, entered into on September 30, 2014, between Bakken Hunter, LLC and LGFE-BH L.P.*

 

 

 

99.1

 

Press release of Magnum Hunter Resources Corporation, dated September 30, 2014.

 


*                 Pursuant to Item 601(b)(2) of Regulation S-K, certain schedules and similar attachments have been omitted. The registrant hereby agrees to furnish a copy of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.

 

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