Magnum Hunter Resources Corp. , Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 million the company planned for 2014. Allocation of $70 million was approved for its Utica and Marcellus shale exploration and development drilling program in Ohio and West Virginia, $10 million for its properties in the Williston basin in North Dakota, and $20 million for leasehold acreage acquisitions in the Utica and Marcellus. Magnum Hunter plans to further delineate its acreage positions in Monroe, Noble, and Washington counties in Ohio, and in Tyler and Ritchie counties in West Virginia. During the year, the company plans to bring on production three net horizontal wells in the Marcellus and eight net horizontal wells in the Utica. A number of these wells have already been drilled and are in various stages of completion, meaning capital for these projects was […]