Magnum Hunter announces possible revolver draw connected to buyout

By Ashley Montgomery

Kansas City, Kan., Oct. 25 - Magnum Hunter Resources Corp. may draw on its senior revolving credit facility to fund the acquisition of all of Viking International Resources Co., Inc.'s stock, according to a notice.

The price of the acquisition totals $106.7 million, which will be paid through a combination of convertible preferred stock and cash.

The company said the $37.3 million cash portion would be funded through additional preferred stock sales or through availability under the company's senior revolving credit facility.

Magnum Hunter is a Houston-based oil and gas exploration company.

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