Magnum Hunter Resources Corporation Announces Hiring of John K. Reinhart as President and Chief Executive Officer

IRVING, TX--(Marketwired - Sep 6, 2016) - Magnum Hunter Resources Corporation ("MHR" or the "Company") today announced that it has hired John K. Reinhart as President and Chief Executive Officer of the Company. Mr. Reinhart, 47, has more than 22 years of experience in the oil and gas industry, with the last 10 years focused in upstream exploration, development and production activities primarily in the Marcellus and Utica Shales in Ohio and West Virginia.

"I am very pleased and excited to join the Magnum Hunter team," said Reinhart. "The great employees at Magnum Hunter have worked very diligently over the past year to position the Company for success. With the acreage position that the Company has acquired in the premier low-cost gas basin in the United States, Magnum Hunter's Marcellus and Utica Shale plays strategically position the Company for growth and value creation. I am honored to have the opportunity to lead the Company to the achievement of its strategic and operational goals."

Prior to joining the Company, Mr. Reinhart served as Executive Vice President and Chief Operating Officer of Ascent Resources, LLC from 2014 to 2016.

Prior to Ascent, Mr. Reinhart worked for Chesapeake Energy Corporation for eight years in increasing roles of importance, culminating in his role as Senior Vice President - Operations and Technical Services from 2013 to 2014. As Senior Vice President - Operations and Technical Services for Chesapeake, Mr. Reinhart led a team of approximately 1,400 employees who provided technical and operational services in Land, Supply Chain, Marketing and Operational/Technical Services in the execution of development strategies for Chesapeake's asset teams. Mr. Reinhart also served Chesapeake as Vice President Operations - Eastern Division from 2009 to 2013, where he led the start-up, growth and development of Chesapeake's Marcellus Shale and Utica Shale assets, helping make Chesapeake a leading oil and natural gas producer in Appalachia; as Manager - Engineering Technology from 2007 to 2009; and as a Senior Asset Manager in the Midcontinent Region of the Northern Division from 2006 to 2007.

Prior to Chesapeake, Mr. Reinhart worked for Schlumberger Limited for eleven years in various engineering and operational leadership roles. He earned a Bachelor of Science in Mechanical Engineering from West Virginia University in 1994.

MHR and its subsidiaries are an Irving, Texas based independent exploration and production company engaged in the acquisition, development and production of natural gas, natural gas liquids and crude oil, primarily in the States of West Virginia and Ohio. The Company is presently active in two of the most prolific unconventional shale resource plays in North America, the Marcellus Shale and Utica Shale located in Northwest West Virginia and Southeast Ohio.