Magnum Hunter Resources Corp. - 2011-08-15

The company has entered into an amendment under its $250 million senior secured revolving credit facility to increase the borrowing base. The company's Borrowing Base is increasing via two tranches. Today, the Borrowing Base has been increased from $170 million to $187.5 million. Upon the completion of the recently announced acquisition of North Dakota properties, the Borrowing Base will increase again to $230 million. Closing of this transaction will be on or before August 18, 2011.

Bank of Montreal serves as the "Administrative Agent" under the facility, with Capital One N.A. serving as the "Syndication Agent," and Amegy Bank National Association, KeyBank National Association and UBS Securities LLC serving as "Documentation Agents." BMO Capital Markets serves as "Lead Arranger" and "Sole Bookrunner." Participating banks include Citibank N.A., Credit Suisse AG, Deutsche Bank Trust Company Americas, Goldman Sachs Bank USA and Union Bank N.A.