Magnum Hunter Resources Forms Strategic Alliance with Swanson Consulting Services

Magnum Hunter Resources, Inc., a rapidly growing independent exploration and development company, has entered into a definitive agreement with the principal shareholders of Swanson Consulting Services, Inc. to form a strategic alliance. The primary objectives of this collaboration are to leverage Swanson's geological, geophysical, and engineering expertise alongside Magnum Hunter's engineering, geological, land, financial, and operating expertise. This partnership aims to bolster Magnum Hunter's exploration and exploitation projects, with Swanson serving as a technical arm to analyze existing and future projects.

Key Takeaways:

• The strategic alliance between Magnum Hunter Resources and Swanson Consulting Services will enable the former to access Swanson's expertise in geological, geophysical, and engineering services.
• Swanson Consulting Services is a premier exploration and production consulting firm with a global presence, offering technical consulting services to energy companies.
• The company has a successful track record of completing large data-intensive projects for clients such as Exxon, Mobil, and Petroleos de Venezuela, with a strong focus on South America.
• Magnum Hunter has previously engaged Swanson's team to evaluate potential acquisitions and has been satisfied with the quality of their analysis.
• The partnership will enhance Magnum Hunter's competitiveness in acquiring geologically complex exploration and exploitation projects, particularly in the Gulf Coast market.
• Magnum Hunter operates in three primary areas: crude oil, condensate, and natural gas production; natural gas gathering, transmission, and marketing; and managing and operating producing oil and natural gas properties.

Statistics:

• Magnum Hunter Resources, Inc. is one of the nation's fastest-growing independent exploration and development companies.
• Swanson Consulting Services has experience in large data-intensive projects, including those completed for Exxon, Mobil, and Petroleos de Venezuela.
• The company has eighteen years of experience applying successful technology to domestic and international geoscience studies.
• Magnum Hunter has identified the combination of Swanson's technical expertise with its own resource base as a potential key to future growth.

Sources:

• Magnum Hunter Resources, Inc.
• Swanson Consulting Services, Inc.
• PR Newswire