Magnum Hunter Resources 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	MAGNUM HUNTER RESOURCES CORP
Entity Central Index Key	1,335,190
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		220,773,920
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 8,818	$ 53,180
Oil and natural gas sales	14,561	21,514
Joint interests and other, net of allowance for doubtful accounts of $508 at June 30, 2015 and $308 at December 31, 2014	10,914	23,888
Derivative assets	27	16,586
Inventory	2,491	2,268
Investments	2,447	3,864
Prepaid expenses and other assets	2,106	4,091
Total current assets	41,364	125,391
PROPERTY, PLANT AND EQUIPMENT
Oil and natural gas properties, successful efforts method of accounting, net	1,049,370	1,098,235
Gas transportation, gathering and processing equipment and other, net	76,031	77,423
Total property, plant and equipment, net	1,125,401	1,175,658
OTHER ASSETS
Deferred financing costs, net of amortization of $16,747 at June 30, 2015 and $15,099 at December 31, 2014	21,252	22,856
Other assets	929	3,928
Assets of discontinued operations	345,318	347,191
Total assets	1,534,264	1,675,024
CURRENT LIABILITIES
Current portion of long-term debt	9,854	10,770
Accounts payable	95,090	135,697
Accounts payable to related parties	6,154	90
Accrued liabilities	21,588	20,277
Revenue payable	7,428	5,450
Derivative liabilities	490	0
Other liabilities	2,340	1,356
Total current liabilities	142,944	173,640
Long-term debt, net of current portion	938,685	937,963
Asset retirement obligations, net of current portion	25,944	26,229
Other long-term liabilities	5,465	5,337
Total liabilities	$ 1,113,038	$ 1,143,169
COMMITMENTS AND CONTINGENCIES (Note 14)
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value per share, 350,000,000 shares authorized, and 213,963,234 and 201,420,701 issued, and 213,048,282 and 200,505,749 outstanding as of June 30, 2015 and December 31, 2014, respectively	$ 2,140	$ 2,014
Additional paid in capital	936,323	909,783
Accumulated deficit	(929,836)	(784,546)
Accumulated other comprehensive income (loss)	230	(7,765)
Treasury stock, at cost	(1,914)	(1,914)
Total shareholders' equity	321,226	431,855
Total liabilities and shareholders' equity	1,534,264	1,675,024
Series C Cumulative Perpetual Preferred Stock
REDEEMABLE PREFERRED STOCK
Redeemable preferred stock	100,000	100,000
Series D Cumulative Perpetual Preferred Stock
SHAREHOLDERS' EQUITY
Preferred Stock	221,244	221,244
Series E Cumulative Convertible Preferred Stock
SHAREHOLDERS' EQUITY
Preferred Stock	95,069	95,069
Treasury stock, at cost	$ (2,030)	$ (2,030)

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$ 508	$ 308
Amortization of deferred financing costs	$ 16,747	$ 15,099
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	213,963,234	201,420,701
Common stock, shares outstanding	213,048,282	200,505,749
Treasury stock, shares	914,952	914,952
Series C Cumulative Perpetual Preferred Stock
Cumulative dividend rate (as a percent)	10.25%	10.25%
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	4,000,000	4,000,000
Preferred stock, shares outstanding	4,000,000	4,000,000
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25
Series D Cumulative Perpetual Preferred Stock
Preferred stock, shares authorized	5,750,000	5,750,000
Cumulative dividend rate for cumulative preferred stock (as a percent)	8.00%	8.00%
Preferred stock, shares issued	4,424,889	4,424,889
Preferred Stock, Shares Outstanding	4,424,889	4,424,889
Preferred stock, liquidation preference (in dollars per share)	$ 50	$ 50
Series E Cumulative Convertible Preferred Stock
Preferred stock, shares authorized	12,000	12,000
Cumulative dividend rate for cumulative preferred stock (as a percent)	8.00%	8.00%
Preferred stock, shares issued	3,803	3,803
Preferred Stock, Shares Outstanding	3,722	3,722
Preferred stock, liquidation preference (in dollars per share)	$ 25,000	$ 25,000
Treasury stock, shares	81	81

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES AND OTHER
Oil and natural gas sales	$ 33,418	$ 83,772	$ 82,809	$ 159,737
Midstream natural gas gathering, processing, and marketing	472	39,646	930	65,757
Oilfield services	5,393	5,954	10,258	11,575
Other revenue	243	276	925	449
Total revenue	39,526	129,648	94,922	237,518
OPERATING EXPENSES
Production costs	9,351	10,186	23,156	23,242
Severance taxes and marketing	1,759	5,729	4,582	10,704
Transportation, processing, and other related costs	10,625	6,835	30,962	18,868
Exploration	1,479	9,186	9,969	25,110
Impairment of proved oil and gas properties	95	158	13,949	16,912
Midstream natural gas gathering, processing, and marketing	184	38,536	678	65,432
Oilfield services	4,678	4,089	8,889	8,036
Depletion, depreciation, amortization and accretion	22,313	32,026	80,063	57,756
Loss (gain) on sale of assets, net	(26,744)	(687)	(28,396)	3,388
General and administrative	11,257	18,776	24,029	32,770
Total operating expenses	34,997	124,834	167,881	262,218
OPERATING INCOME (LOSS)	4,529	4,814	(72,959)	(24,700)
OTHER INCOME (EXPENSE)
Interest income	49	41	98	86
Interest expense	(24,102)	(19,876)	(47,567)	(37,891)
Gain (loss) on derivative contracts, net	(325)	(3,006)	2,777	(8,595)
Loss from equity method investments	(87)	(135)	(318)	(357)
Other income (expense)	(146)	471	(7,753)	427
Total other expense, net	(24,611)	(22,505)	(52,763)	(46,330)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX	(20,082)	(17,691)	(125,722)	(71,030)
Income tax	0	0	0	0
LOSS FROM CONTINUING OPERATIONS, NET OF TAX	(20,082)	(17,691)	(125,722)	(71,030)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0	0	2,390	0
Loss from discontinued operations, net of tax	(1,594)	(42,524)	(4,263)	(42,373)
Loss on disposal of discontinued operations, net of tax	0	(5,212)	0	(13,725)
NET LOSS	(21,676)	(65,427)	(127,595)	(127,128)
Net loss attributed to non-controlling interests	0	780	0	889
LOSS ATTRIBUTABLE TO MAGNUM HUNTER RESOURCES CORPORATION	(21,676)	(64,647)	(127,595)	(126,239)
Dividends on preferred stock	(8,847)	(8,848)	(17,695)	(17,668)
Dividends on preferred stock of discontinued operations	0	(6,482)	0	(12,558)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (30,523)	$ (79,977)	$ (145,290)	$ (156,465)
Weighted average number of common shares outstanding, basic and diluted	208,077,253	184,479,312	204,517,663	178,346,940
Loss from continuing operations per share, basic and diluted	$ (0.14)	$ (0.14)	$ (0.70)	$ (0.49)
Loss from discontinued operations per share, basic and diluted	(0.01)	(0.29)	(0.01)	(0.39)
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	$ (0.15)	$ (0.43)	$ (0.71)	$ (0.88)
Loss from continuing operations, net of tax	$ (20,082)	$ (16,911)	$ (125,722)	$ (70,141)
Loss from discontinued operations, net of tax	(1,594)	(47,736)	(1,873)	(56,098)
Net loss	$ (21,676)	$ (64,647)	$ (127,595)	$ (126,239)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (21,676)	$ (65,427)	$ (127,595)	$ (127,128)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation gain (loss)	(13)	1,130	102	(1,218)
Unrealized gain (loss) on available for sale securities	309	(549)	(1,099)	(605)
Amounts reclassified for other than temporary impairment of available for sale securities	0	0	8,992	0
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	20,741	0	20,741
Total other comprehensive income	296	21,322	7,995	18,918
COMPREHENSIVE LOSS	(21,380)	(44,105)	(119,600)	(108,210)
Comprehensive loss attributable to non-controlling interests	0	780	0	889
COMPREHENSIVE LOSS ATTRIBUTABLE TO MAGNUM HUNTER RESOURCES CORPORATION	$ (21,380)	$ (43,325)	$ (119,600)	$ (107,321)

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (loss)	Treasury Stock	Series D Preferred StockPreferred Stock	Series E Preferred StockPreferred Stock
BALANCE (in shares) at Dec. 31, 2014		201,421					4,425	4
BALANCE at Dec. 31, 2014	$ 431,855	$ 2,014	$ 909,783	$ (784,546)	$ (7,765)	$ (3,944)	$ 221,244	$ 95,069
Increase (Decrease) in Shareholders' Equity
Share based compensation (in shares)		1,101
Share based compensation	5,147	$ 12	5,135
Shares withheld for taxes	(310)		(310)
Sale of common stock (shares)		11,441
Sale of common stock	21,829	$ 114	21,715
Dividends on preferred stock	(17,695)			(17,695)
Net loss	(127,595)			(127,595)
Foreign currency translation gain (loss)	102				102
Unrealized gain on available for sale securities	(1,099)				(1,099)
Amounts reclassified from accumulated other comprehensive income for other than temporary impairment of available for sale securities	8,992				8,992
BALANCE (in shares) at Jun. 30, 2015		213,963					4,425	4
BALANCE at Jun. 30, 2015	$ 321,226	$ 2,140	$ 936,323	$ (929,836)	$ 230	$ (3,944)	$ 221,244	$ 95,069

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Cash Flows [Abstract]
Net loss	$ (127,595)	$ (127,128)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depletion, depreciation, amortization and accretion	80,063	65,361
Exploration	8,769	22,489
Impairment of proved oil and gas properties	13,949	158
Impairment of other operating assets	0	616
Share-based compensation	4,837	3,375
Cash paid for plugging wells		(27)
Loss (gain) on sale of assets	(28,396)	35,761
Loss (gain) on derivative contracts	(2,777)	42,489
Cash proceeds (payment) on settlement of derivative contracts	19,826	(4,551)
Gain on dilution of interest in Eureka Hunter Holdings, LLC	(2,390)	0
Loss from equity method investments	4,581	403
Other than temporary impairment of investment	8,992
Amortization and write-off of deferred financing costs and discount on Senior Notes included in interest expense	2,313	7,740
Changes in operating assets and liabilities:
Accounts receivable, net	18,240	(15,588)
Inventory	(223)	3,475
Prepaid expenses and other current assets	2,118	(1,147)
Accounts payable	45,915	(23,817)
Revenue payable	2,051	5,204
Accrued liabilities	1,687	3,934
Net cash provided by operating activities	51,960	18,747
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures and advances	(136,635)	(257,469)
Change in deposits and other long-term assets	2,745	(2,406)
Proceeds from sales of assets	34,186	74,503
Net cash used in investing activities	(99,704)	(185,372)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from sales of common shares	21,829	178,575
Proceeds from sale of Eureka Hunter Holdings Series A Preferred Units		11,956
Proceeds from exercise of warrants and options		8,761
Preferred stock dividends	(17,695)	(23,646)
Repayments of debt	(5,860)	(197,216)
Proceeds from borrowings on debt	5,000	161,616
Deferred financing costs	(44)	(6,042)
Change in other long-term liabilities	128	(13)
Net cash provided by financing activities	3,358	133,991
Effect of changes in exchange rate on cash	24	41
NET DECREASE IN CASH AND CASH EQUIVALENTS	(44,362)	(32,593)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	53,180	41,713
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 8,818	$ 9,120

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
GENERAL	NOTE 1 - GENERAL Organization and Nature of Operations Magnum Hunter Resources Corporation, a Delaware corporation, operating directly and indirectly through its subsidiaries ("Magnum Hunter" or the "Company"), is an Irving, Texas based independent oil and gas company engaged primarily in the exploration for and the exploitation, acquisition, development and production of natural gas and natural gas liquids resources predominantly in shale plays in the United States, along with certain oil field service activities. In addition, the Company has a substantial equity method investment in midstream operations, which is classified as discontinued operations. Presentation of Consolidated Financial Statements The accompanying unaudited interim consolidated financial statements of Magnum Hunter have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of these consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ materially from those estimates. In the opinion of management, all adjustments (consisting of normal recurring adjustments unless otherwise indicated) necessary for the fair statement of the financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The year-end balance sheet data were derived from audited financial statements, but do not include all disclosures required by GAAP. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP that would substantially duplicate the disclosures contained in the audited consolidated financial statements as reported in the Company's Annual Report on Form 10-K have been condensed or omitted. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 , as amended. The consolidated financial statements also reflect the interests of our wholly-owned subsidiary, Magnum Hunter Production, Inc. ("MHP") in various managed drilling partnerships. The Company accounts for the interests in these managed drilling partnerships using the proportionate consolidation method. Adoption of New Accounting Policy In April 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . ASU 2014-08 updates the requirements for reporting discontinued operations in ASC Subtopic 205-20, Presentation of Financial Statements - Discontinued Operations , by requiring classification as discontinued operations of a component of an entity, a group of components of an entity, or a business (including equity method investments) if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when either 1) the component, group of components of an entity, or a business meet the criteria to be classified as held for sale, 2) are disposed of by sale, or 3) are disposed of other than by sale (e.g. abandonment or a distribution to owners in a spinoff). This ASU is effective prospectively for all disposals (or classification as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. The adoption of ASU 2014-08 required the Company to reclassify the operations of Eureka Hunter Holdings, LLC ("Eureka Hunter Holdings") to discontinued operations for all periods presented. See "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . Reclassification of Prior-Period Balances Certain prior period balances have been reclassified to correspond with current-period presentation. As a result of the Company's adoption of a plan in June 2015 to dispose of its equity investment in Eureka Hunter Holdings, operating losses and expenses related to these operations have been classified as discontinued operations and the equity investment has been reclassified to assets of discontinued operations in our consolidated balance sheets for all periods presented. See "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . As a result of the Company's decision in September 2014 to withdraw its plan to divest MHP and cease all marketing efforts, the results of operations of MHP, which had previously been reported as a component of discontinued operations, have been reclassified to continuing operations for all periods presented, and all assets and liabilities of MHP that were previously reported as assets and liabilities held for sale in our consolidated balance sheet have been reclassified to assets and liabilities held for use effective September 2014. See "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . The Company has separately classified transportation and processing expenses incurred to deliver gas to processing plants and/or to selling points, which were previously included as components of lease operating expenses and severance taxes and marketing, in the accompanying consolidated statements of operations for all periods presented. The Company has also renamed lease operating expenses as "Production costs" and presented transportation and processing expenses as "Transportation, processing, and other related costs" in order to provide more meaningful information on costs associated with production and development. The Company has reclassified approximately $5.2 million of oil and gas transportation, processing and production taxes payables from accounts receivable - oil and natural gas sales to accounts payable as of December 31, 2014. Non-Controlling Interest in Consolidated Subsidiaries Prior to July 24, 2014, the Company owned 87.5% of the equity interests in PRC Williston, LLC ("PRC Williston"), which sold substantially all of its assets on December 30, 2013. On July 24, 2014, the Company executed a settlement and release agreement with Drawbridge Special Opportunities Fund LP and Fortress Value Recovery Fund I LLC f/k/a D.B. Zwirn Special Opportunities Fund, L.P. As a result of this settlement agreement, the Company owns 100% of the equity interests in PRC Williston and has all rights and claims to its remaining assets and liabilities, which are not significant. The net loss attributable to non-controlling interest for PRC Williston is recorded through July 24, 2014. Regulated Activities Sentra Corporation, a wholly-owned subsidiary, owns and operates distribution systems for retail sales of natural gas in south central Kentucky. Sentra Corporation's gas distribution billing rates are regulated by the Kentucky Public Service Commission based on recovery of purchased gas costs. The Company accounts for its operations based on the provisions of the FASB Accounting Standards Codification ("ASC") Subtopic 980-605, Regulated Operations-Revenue Recognition , which requires covered entities to record regulatory assets and liabilities resulting from actions of regulators. During the three and six months ended June 30, 2015 , the Company had gas transmission, compression and processing revenue, which included gas utility sales from Sentra Corporation's regulated operations aggregating $82,969 and $461,230 , respectively. During the three and six months ended June 30, 2014 , the Company had revenues of $274,827 and $445,899 , respectively, related to Sentra Corporation's regulated operations. Recently Issued Accounting Standards Accounting standards-setting organizations frequently issue new or revised accounting rules. The Company regularly reviews all new pronouncements to determine their impact, if any, on its financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition , and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of the revised standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 requires entities to disclose both quantitative and qualitative information that enables users of financial statements to understand the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. This amendment is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. The guidance allows for either a "full retrospective" adoption or a "modified retrospective" adoption, however early application is not permitted. In July 2015, the FASB voted to approve a one-year deferral of the effective date of ASU 2014-09. The Company is currently evaluating the adoption methods and the impact of this ASU on its consolidated financial statements and financial statement disclosures. In April 2015, the FASB issued ASU 2015-03, Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. This amendment is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. As of June 30, 2015 , the Company had $21.3 million of debt issuance costs, which under this standard would be reclassified from an asset to a direct deduction from the related debt liability. In April 2015, the FASB issued ASU 2015-04, Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Fees Paid in a Cloud Computing Agreement . This update provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This update does not change GAAP for a customer's accounting for service contracts. This amendment is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted for all entities, either prospectively to all arrangements entered into or materially modified after the effective date, or retrospectively. The Company has several cloud computing arrangements and is currently evaluating the impact of this ASU on its consolidated financial statements and financial statement disclosures.

ACQUISITIONS, DIVESTITURES, AND

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
ACQUISITIONS AND DISCONTINUED OPERATIONS	NOTE 2 - ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS Acquisitions Agreement to Purchase Utica Shale Acreage On August 12, 2013, Triad Hunter, LLC ("Triad Hunter"), a wholly-owned subsidiary of the Company, entered into an asset purchase agreement with MNW Energy, LLC ("MNW"). MNW is an Ohio limited liability company that represents an informal association of various land owners, lessees and sub-lessees of mineral acreage who own or have rights in mineral acreage located in Monroe, Noble and/or Washington Counties, Ohio. Pursuant to the purchase agreement, Triad Hunter agreed to acquire from MNW up to 32,000 net mineral acres, including currently leased and subleased acreage, located in such counties, over a period of time, in staggered closings, subject to certain conditions. The maximum purchase price, if MNW delivers 32,000 acres with acceptable title, would be $142.1 million , excluding title costs. During the six months ended June 30, 2015 and 2014 , Triad Hunter purchased 2,665 and 11,128 net leasehold acres, respectively, from MNW for an aggregate purchase price of $12.0 million and $45.9 million , respectively. As of June 30, 2015 , Triad Hunter had purchased a total of 25,044 net leasehold acres from MNW for an aggregate purchase price of $103.9 million . The Company believes that MNW may not be able to provide Triad Hunter with satisfactory title to all of the remaining net leasehold acres subject to purchase under the asset purchase agreement, and therefore the Company anticipates that most of the remaining net leasehold acres will not be ultimately acquired by Triad Hunter. Divestitures Sale of Certain West Virginia Assets On May 22, 2015, Triad Hunter entered into a Purchase and Sale Agreement with Antero Resources Corporation ("Antero") pursuant to which Triad Hunter agreed to sell to Antero all of Triad Hunter's right, title and interest in certain undeveloped and unproven leasehold acreage located in Tyler County, West Virginia. The sale transaction closed on June 18, 2015 and Triad Hunter received cash consideration of $33.6 million , subject to post-closing adjustments for any title defects and for remediation of asserted title defects. The properties sold consisted of ownership interests in approximately 5,210 net leasehold acres. Pursuant to the Purchase and Sale Agreement, as amended, Antero had the right, up to the close of business on June 30, 2015, to assert or waive any title defects associated with the leasehold acres sold. Triad Hunter has the right, on or before August 19, 2015, to cure or remove any or all such title defects asserted by Antero, following which cure or removal the affected properties will be conveyed to Antero and Triad Hunter will receive additional consideration therefor. As of August 6, 2015, the Company received an additional $4.0 million of additional consideration for title defects cured or removed subsequent to June 30, 2015. The Company recognized a preliminary gain on the sale of $26.2 million during the three and six month periods ended June 30, 2015. Discontinued Operations MHP and Williston Hunter Canada, Inc. In September 2013, the Company adopted a plan to divest all of its interests in (i) MHP, whose oil and natural gas operations are located primarily in the southern Appalachian Basin in Kentucky and Tennessee, and (ii) the Canadian operations of Williston Hunter Canada, Inc. ("WHI Canada"), which was a wholly-owned subsidiary of the Company. The Company closed on the sale of its interests in WHI Canada during the second quarter of 2014. Effective September 2014, the Company withdrew its plan to divest MHP. Consequently, the assets and liabilities of MHP are presented as held for use effective September 2014 and the results of MHP's operations are presented in continuing operations for all periods presented in these interim consolidated financial statements. Eureka Hunter Holdings In June 2015, the Company adopted a plan to divest of its entire equity ownership interest in Eureka Hunter Holdings in order to improve its liquidity position. Based on early indications of interest, the Company believes that it could complete the divestiture within the next 60 to 90 days. Prior to December 18, 2014, Eureka Hunter Holdings was a consolidated subsidiary of the Company and its operations were included in the Midstream and Marketing operating segment. Following a series of transactions and capital contributions that occurred up to and including December 18, 2014, the Company determined it no longer held a controlling financial interest in Eureka Hunter Holdings. However, the Company exercises significant influence through its retained equity interest and through representation on Eureka Hunter Holdings' board of managers and owned 45.53% of the outstanding membership interest of Eureka Hunter Holdings as of June 30, 2015 . As a result, the Company uses the equity method to account for its retained interest in Eureka Hunter Holdings. The Company has reclassified its equity method investment in Eureka Hunter Holdings to assets of discontinued operations as of June 30, 2015 and December 31, 2014 . All operations related to periods prior to December 18, 2014, and all subsequent equity method losses, are reflected as discontinued operations. On November 18, 2014, the Company entered into a letter agreement (the "November 2014 Letter Agreement") with Eureka Hunter Holdings and MSIP II Buffalo Holdings, LLC ("MSI"), an affiliate of Morgan Stanley Infrastructure II Inc. Pursuant to the November 2014 Letter Agreement, the parties agreed that, among other things, the Company would make a $13.3 million capital contribution (the "MHR 2015 Contribution") in cash to Eureka Hunter Holdings on or before March 31, 2015, in exchange for additional Series A-1 Units in Eureka Hunter Holdings. On March 30, 2015, the Company, Eureka Hunter Holdings and MSI entered into an additional letter agreement (the "March 2015 Letter Agreement"), pursuant to which the parties agreed that, among other things, (i) the Company is no longer required to make the MHR 2015 Contribution and (ii) MSI would make certain additional capital contributions to Eureka Hunter Holdings in exchange for additional Series A-2 Units. Pursuant to the March 2015 Letter Agreement, MSI purchased additional Series A-2 Units of Eureka Hunter Holdings as follows: i. On March 31, 2015, MSI made a capital contribution in cash to Eureka Hunter Holdings of approximately $27.2 million (the "2015 Growth CapEx Projects Contribution") in exchange for additional Series A-2 Units in Eureka Hunter Holdings with the proceeds of such capital contribution to be used to fund certain of Eureka Hunter Pipeline's 2015 capital expenditures. The 2015 Growth CapEx Projects Contribution is subject to the Company's right to make an MHR Catch-Up Contribution (as defined in the Second Amended and Restated Limited Liability Company Agreement of Eureka Hunter Holdings (the "LLC Agreement")). ii. On March 31, 2015, MSI made an additional capital contribution in cash to Eureka Hunter Holdings of approximately $37.8 million (the "Additional Contribution") in exchange for additional Series A-2 Units in Eureka Hunter Holdings with the proceeds of such Additional Contribution to be used to fund certain of Eureka Hunter Pipeline's additional capital expenditures and for certain other uses. Immediately after giving effect to these transactions, the Company and MSI owned 45.53% and 53.00% , respectively, of the equity interests of Eureka Hunter Holdings, with the Company's equity ownership consisting of Series A-1 Units and MSI's equity ownership consisting of Series A-2 Units. Pursuant to the March 2015 Letter Agreement, the parties further agreed that the Company had the right, in its discretion, to fund as a capital contribution to Eureka Hunter Holdings, all or a portion (in specified minimum amounts) of its pro-rata share of the Additional Contribution, which pro-rata share equals approximately $18.7 million (the "MHR Additional Contribution Component"), before June 30, 2015 (the "MHR Contribution Deadline"), in exchange for additional Series A-1 Units in Eureka Hunter Holdings (the "MHR 2015 Make-up Contribution"). On July 27, 2015, the Company entered into an additional letter agreement (the "July 2015 Letter Agreement") with Eureka Hunter Holdings and MSI pursuant to which the parties memorialized an agreement in principle which had been reached prior to June 30, 2015, to extend the MHR Contribution Deadline to the earlier of (i) September 30, 2015 or (ii) the day immediately preceding the date on which the Company disposes, in a sale transaction or otherwise, its equity ownership interest in Eureka Hunter Holdings. If the Company funds the full MHR Additional Contribution Component on or prior to the MHR Contribution Deadline, (but excluding any other capital contributions that may be made by the Company or MSI pursuant to the LLC Agreement), the Company and MSI will own 46.44% and 52.11% , respectively, of the Class A Common Units of Eureka Hunter Holdings. If the Company does not fund the full MHR Additional Contribution Component by the MHR Contribution Deadline, as amended by the July 2015 Letter Agreement, the Company's Series A-1 Units in Eureka Hunter Holdings will be adjusted downward by an amount equivalent to the unfunded portion of the MHR Additional Contribution Component divided by the purchase price per unit paid by MSI in connection with the 2015 Growth CapEx Projects Contribution and the Additional Contribution. If the Company does not fund any of the MHR Additional Contribution Component on or prior to the MHR Contribution Deadline, the Company and MSI will own 44.53% and 53.98% , respectively, of the Class A Common Units of Eureka Hunter Holdings. If the Company does not fund all or a portion of the MHR Additional Contribution, a downward adjustment of its capital account, as described above, could result in the Company recognizing a loss on its investment in Eureka Hunter Holdings. If the Company funds a portion (in specified minimum amounts), but not all of the MHR Additional Contribution Component, on or prior to the MHR Contribution Deadline, then the ownership percentages of the Company and MSI will be adjusted in a manner consistent with the first sentence of this paragraph but with the downward adjustment for the Company being proportionally reduced. Pursuant to the July 2015 Letter Agreement, the Company agreed that neither the Company nor any of its affiliates will use, directly or indirectly, any proceeds received from the disposal of the Company's equity ownership interest in Eureka Hunter Holdings to fund the MHR Additional Contribution Component. In addition, pursuant to the July 2015 Letter Agreement, the Company will not have the right to fund the MHR Additional Contribution Component unless, at the time the Company would otherwise make such contribution, the Company (including any relevant affiliate of the Company) is current in respect of all of its payment obligations under all gas gathering agreements to which the Company (or any affiliate of the Company), on the one hand, and Eureka Hunter Holdings (or any subsidiary thereof), on the other hand, are party to or otherwise subject to. After the earlier to occur of (a) the Company having made contributions equal to the MHR Additional Contribution Component or (b) the MHR Contribution Deadline, the Company may make MHR Catch-Up Contributions (as defined in the LLC Agreement) in accordance with the LLC Agreement (as modified by the November 2014 Letter Agreement as to the applicable time and amount limitations) in respect of any MHR Shortfall Amounts (as defined in the LLC Agreement) that are eligible to be funded by the Company under the LLC Agreement. The Company accounted for the March 31, 2015 MSI capital contributions and the issuance of additional Series A-2 Units by Eureka Hunter Holdings in accordance with the subsequent measurement provision of ASC Topic 323, Investments - Equity Method and Joint Ventures , which requires the Company to recognize a gain or loss on the dilution of its equity interest as if the Company had sold a proportionate interest in Eureka Hunter Holdings. The Company recognized a pre-tax gain of $2.4 million based on the difference between the carrying value of the Company's Series A-1 Units and the proceeds received by Eureka Hunter Holdings for the issuance of additional Series A-2 Units to MSI which resulted in permanent dilution of the Company's equity interest in Eureka Hunter Holdings. The gain included the Company's proportionate decrease in its equity method basis difference which was reduced by $3.9 million based on the change in the Company's ownership in the net assets of Eureka Hunter Holdings after giving effect to the dilution of the Company's interest as a result of the unit issuance. As of June 30, 2015 , the Company and MSI owned 45.53% and 53.00% , respectively, of the Class A Common Units of Eureka Hunter Holdings. The Company recorded its retained interest in Eureka Hunter Holdings initially at a fair value of $347.3 million in December 2014. The carrying value of the Company's equity interest in Eureka Hunter Holdings was $345.3 million and $347.2 million at June 30, 2015 and December 31, 2014 , respectively. The recognition of the Company's retained interest in Eureka Hunter Holdings at fair value upon deconsolidation resulted in a basis difference between the carrying value of the Company's investment in Eureka Hunter Holdings and its proportionate share in net assets of Eureka Hunter Holdings. The basis difference was accounted for using the acquisition method of accounting, which requires that the basis difference be allocated to the identifiable assets of Eureka Hunter Holdings at fair value and based upon the Company's proportionate ownership. Determining the fair value of assets and liabilities is judgmental in nature and involves the use of significant estimates and assumptions. The Company recognized a basis difference of $201.8 million upon deconsolidation related to its investment in Eureka Hunter Holdings which has been allocated to the following identifiable assets of Eureka Hunter Holdings: Identifiable Assets Ending Basis December 31, 2014 Basis Amortization Basis Reduction Ending Basis June 30, 2015 (in thousands) Fixed assets $ 5,088 $ (128 ) $ (98 ) $ 4,862 Intangible assets 155,189 (3,750 ) (2,705 ) 148,734 Goodwill 41,597 — (1,104 ) 40,493 Total basis difference $ 201,874 $ (3,878 ) $ (3,907 ) $ 194,089 The components of the Company's basis difference, excluding goodwill, are being amortized over their estimated useful lives ranging from 3 to 39 years. The Company has completed its valuation of the identifiable assets to which the basis difference is attributable to and has recorded amortization based on this valuation for the period ended June 30, 2015 . Summarized income information for Eureka Hunter Holdings for the three and six months ended June 30, 2015 is as follows: Three Months Ended Six Months Ended (in thousands) Operating revenues $ 17,409 $ 31,124 Operating income (loss) $ 1,790 $ 1,318 Net income (loss) $ 736 $ (846 ) Magnum Hunter's interest in Eureka Hunter Holdings net income (loss) $ 384 $ (385 ) Basis difference amortization $ (1,978 ) $ (3,878 ) Magnum Hunter's equity in earnings, net $ (1,594 ) $ (4,263 ) As of June 30, 2015 and December 31, 2014 , the Company had assets of discontinued operations of $345.3 million and $347.2 million , respectively, consisting of its equity method investment in Eureka Hunter Holdings. The Company included the results of operations related to Eureka Hunter Holdings for all periods presented, and the results of operations of WHI Canada through May 12, 2014, the date of sale, in discontinued operations. The following presents the results of our discontinued operations for the three and six months ended June 30, 2014 and June 30, 2015 . Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Revenues $ — $ 11,103 $ — $ 22,960 Depreciation, depletion, amortization and accretion — (3,929 ) — (7,607 ) Other operating expenses — (9,238 ) — (17,302 ) Interest expense — (605 ) — (6,487 ) Loss on derivative contracts, net — (39,830 ) — (33,894 ) Loss from equity method investments (1,594 ) — (4,263 ) — Other expense — (25 ) — (43 ) Loss from discontinued operations, net of tax (1,594 ) (42,524 ) (4,263 ) (42,373 ) Gain on dilution of interest in Eureka Hunter Holdings, net of tax — — 2,390 — Loss on disposal of discontinued operations, net of taxes of $0 — (5,212 ) — (13,725 ) Loss from discontinued operations, net of taxes $ (1,594 ) $ (47,736 ) $ (1,873 ) $ (56,098 ) Total operating cash inflows related to Eureka Hunter Holdings for the three and six month periods ended June 30, 2014 were $31.6 million and $38.4 million , respectively, and total investing cash outflows related to Eureka Hunter Holdings for the three and six month periods ended June 30, 2014 were $46.0 million and $64.4 million , respectively.

OIL & NATURAL GAS SALES

OIL & NATURAL GAS SALES	6 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
Oil & Natural Gas Sales	NOTE 3 - OIL & NATURAL GAS SALES During the three and six months ended June 30, 2015 and 2014 , the Company recognized sales from oil, natural gas, and natural gas liquids ("NGLs") as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Oil $ 15,087 $ 41,506 $ 24,631 $ 76,859 Natural gas 13,023 28,264 44,883 55,784 NGLs 5,308 14,002 13,295 27,094 Total oil and natural gas sales $ 33,418 $ 83,772 $ 82,809 $ 159,737

PROPERTY, PLANT, & EQUIPMENT

PROPERTY, PLANT, & EQUIPMENT	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant, & Equipment	NOTE 4 - PROPERTY, PLANT, & EQUIPMENT Oil and Natural Gas Properties The following sets forth the net capitalized costs under the successful efforts method for oil and natural gas properties as of: June 30, December 31, (in thousands) Mineral interests in properties: Unproved leasehold costs $ 444,692 $ 481,643 Proved leasehold costs 284,185 257,185 Wells and related equipment and facilities 642,420 606,406 Advances to operators for wells in progress 1,283 1,411 Total costs 1,372,580 1,346,645 Less accumulated depletion, depreciation, and amortization (323,210 ) (248,410 ) Net capitalized costs $ 1,049,370 $ 1,098,235 Proved oil and natural gas properties are reviewed for impairment on a field-by-field basis bi-annually or when events and circumstances indicate a possible decline in the recoverability of the carrying amount of such property. Impairments of proved properties of $0.1 million and $13.9 million were recorded during the three and six months ended June 30, 2015 , primarily related to Appalachian Basin properties. Impairments of proved properties of $0.2 million and $16.9 million were recorded for the three and six months ended June 30, 2014 , which were comprised primarily of impairments recorded on MHP's proved oil and natural gas properties. Depletion, depreciation, and amortization expense for proved oil and natural gas properties was $19.6 million and $74.9 million for the three and six months ended June 30, 2015 , respectively, and $30.1 million and $53.9 million for the three and six months ended June 30, 2014 , respectively. Exploration Exploration expense consists primarily of abandonment charges, exploratory dry holes, geological and geophysical costs, and impairment expense for capitalized leasehold costs associated with unproved properties for which the Company has no further exploration or development plans. During the three and six months ended June 30, 2015 and 2014 , the Company recognized exploration expense as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Leasehold impairments $ 931 $ 8,833 $ 8,769 $ 24,383 Geological and geophysical 548 353 1,200 727 Total exploration expense $ 1,479 $ 9,186 $ 9,969 $ 25,110 Leasehold impairment expense recorded by the Company during the three and six months ended June 30, 2015 consisted of $0.9 million and $1.2 million , respectively, in the U.S. upstream segment related to leases in the Appalachian Basin and $7.6 million during the six months ended June 30, 2015 related to leases in the Williston Basin. Leasehold impairment expense during the three and six months ended June 30, 2014 consisted of $8.8 million and $19.9 million , respectively, related to leases in the Williston Basin and $2.6 million during the six months ended June 30, 2014 related to leases in the Appalachian Basin. Impairments of leases in the Williston and Appalachian Basins for all periods presented related to leases that expired undrilled during the period or are expected to expire and that the Company does not plan to develop or extend. The Company also recognized $0.0 million and $1.9 million in leasehold impairment expense related to fair value write-downs of MHP for the three and six months ended June 30, 2014 . Gas Transportation, Gathering, and Processing Equipment and Other The historical cost of gas transportation, gathering, and processing equipment and other property, presented on a gross basis with accumulated depreciation, as of June 30, 2015 and December 31, 2014 is summarized as follows: June 30, December 31, (in thousands) Gas transportation, gathering and processing equipment and other $ 102,817 $ 100,436 Less accumulated depreciation (26,786 ) (23,013 ) Net capitalized costs $ 76,031 $ 77,423 Depreciation expense for gas transportation, gathering, and processing equipment and other property was $2.1 million and $3.9 million for the three and six months ended June 30, 2015 , respectively, and $1.6 million and $3.1 million for the three and six months ended June 30, 2014 , respectively.

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 5 - ASSET RETIREMENT OBLIGATIONS The following table summarizes the Company's asset retirement obligation ("ARO") activities during the six -month period ended June 30, 2015 and for the year ended December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) Asset retirement obligations at beginning of period $ 26,524 $ 16,216 Assumed in acquisitions 92 — Liabilities incurred 2 218 Liabilities settled (55 ) (107 ) Liabilities sold (74 ) (2,598 ) Accretion expense 1,281 1,478 Revisions in estimated liabilities (1) (859 ) 3,208 Reclassified from liabilities associated with assets of MHP — 8,109 Asset retirement obligation at end of period 26,911 26,524 Less: current portion (included in other liabilities) (967 ) (295 ) Asset retirement obligations at end of period $ 25,944 $ 26,229 ________________________________ (1) Revisions in estimated liabilities during 2014 relate to a change in assumptions used with respect to certain wells in the Appalachian Basin in Ohio and West Virginia.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 6 - FAIR VALUE OF FINANCIAL INSTRUMENTS GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP also establishes a framework for measuring fair value and a valuation hierarchy based upon the transparency of inputs used in the valuation of an asset or liability. Classification within the hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The valuation hierarchy contains three levels: • Level 1 — Quoted prices (unadjusted) for identical assets or liabilities in active markets • Level 2 — Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs or significant value drivers are observable • Level 3 — Significant inputs to the valuation model are unobservable Transfers between levels of the fair value hierarchy occur at the end of the reporting period in which it is determined that the observability of significant inputs has increased or decreased. There were no transfers between levels of the fair value hierarchy during the six month periods ended June 30, 2015 and 2014 . The Company used the following fair value measurements for certain of the Company's assets and liabilities at June 30, 2015 and December 31, 2014 : Level 1 Classification: Available for Sale Securities At June 30, 2015 and December 31, 2014 , the Company held common and preferred stock of publicly traded companies with quoted prices in an active market. Accordingly, the fair market value measurements of these securities have been classified as Level 1. Level 2 Classification: Commodity Derivative Instruments At June 30, 2015 and December 31, 2014 , the Company had commodity derivative financial instruments in place. The Company does not designate its derivative instruments as hedges and therefore does not apply hedge accounting. Changes in fair value of derivative instruments subsequent to the initial measurement are recorded as gain (loss) on derivative contracts, in other income (expense). The estimated fair value amounts of the Company's commodity derivative instruments have been determined at discrete points in time based on relevant market information which resulted in the Company classifying such derivatives as Level 2. Although the Company's commodity derivative instruments are valued using public indices, the instruments themselves are traded with unrelated counterparties and are not openly traded on an exchange. As of June 30, 2015 and December 31, 2014 , the Company's derivative contracts were with financial institutions, many of which were either senior lenders to the Company or affiliates of such senior lenders, and some of which had investment grade credit ratings. Certain counterparties to the Company's commodity derivatives positions are no longer participants in the Company's credit facilities following the execution of new credit agreements on October 22, 2014 and an amendment on July 10, 2015. See "Note 8 - Debt" . All of the counterparties are believed to have minimal credit risk. Although the Company is exposed to credit risk to the extent of nonperformance by the counterparties to these derivative contracts, the Company does not anticipate such nonperformance and monitors the credit worthiness of its counterparties on an ongoing basis. Level 3 Classification: Convertible Security Embedded Derivative The Company recognized an embedded derivative asset resulting from the fair value of the bifurcated conversion feature associated with the convertible note it received in February 2012 as partial consideration upon the sale of Hunter Disposal, LLC ("Hunter Disposal") to GreenHunter Resources, Inc. ("GreenHunter"), a related party. The embedded derivative was valued using a Black-Scholes model valuation of the conversion option. The key inputs used in the Black-Scholes option pricing model were as follows: June 30, 2015 Life (in years) 1.6 Risk-free interest rate 0.75% Estimated volatility 84% Dividend — GreenHunter stock price at end of period $0.67 The sensitivity of the estimate of volatility used in determining the fair value of the convertible security embedded derivative would not have a significant impact to the Company's financial statements based on the value of its assets as compared to the financial statements as a whole. The following tables present the fair value hierarchy levels of the Company's financial assets and liabilities which are measured and carried at fair value on a recurring basis: Fair Value Measurements on a Recurring Basis June 30, 2015 (in thousands) Assets Level 1 Level 2 Level 3 Available for sale securities $ 2,447 $ — $ — Convertible security derivative assets — — 27 Total assets at fair value $ 2,447 $ — $ 27 Liabilities Commodity derivative liabilities $ — $ 490 $ — Total liabilities at fair value $ — $ 490 $ — Fair Value Measurements on a Recurring Basis December 31, 2014 (in thousands) Assets Level 1 Level 2 Level 3 Available for sale securities $ 3,864 $ — $ — Commodity derivative assets — 16,511 — Convertible security derivative assets — — 75 Total assets at fair value $ 3,864 $ 16,511 $ 75 The following table presents the changes in fair value of the derivative assets and liabilities measured at fair value using significant unobservable inputs (Level 3 inputs) for the six -month period ended June 30, 2015 : Convertible Security Embedded Derivative Asset (in thousands) Fair value as of December 31, 2014 $ 75 Decrease in fair value recognized in gain (loss) on derivative contracts, net (48 ) Fair value as of June 30, 2015 $ 27 Other Fair Value Measurements The following table presents the carrying amounts and fair values categorized by fair value hierarchy level of the Company's financial instruments not carried at fair value: June 30, 2015 December 31, 2014 Fair Value Hierarchy Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value (in thousands) Senior Notes Level 2 $ 597,459 $ 540,000 $ 597,355 $ 498,000 MHR Senior Revolving Credit Facility Level 3 $ 5,000 $ 5,000 $ — $ — MHR Second Lien Term Loan Level 3 $ 328,002 $ 319,769 $ 329,140 $ 329,140 Equipment Notes Payable Level 3 $ 18,078 $ 18,041 $ 22,238 $ 22,150 The fair value of the Company's Senior Notes is based on quoted market prices available for Magnum Hunter's Senior Notes. The fair value hierarchy for the Company's Senior Notes is Level 2 (quoted prices for identical or similar assets in markets that are not active). The carrying value of the Company's senior revolving credit facility (the "MHR Senior Revolving Credit Facility") approximates fair value as the facility is subject to short-term floating interest rates that approximate the rates available to the Company at these dates. The fair value hierarchy for the MHR Senior Revolving Credit Facility is Level 3. The fair value of all fixed-rate notes and the credit facility is based on interest rates currently available to the Company. Fair Value on a Non-Recurring Basis The Company follows the provisions of ASC Topic 820, Fair Value Measurement , for non-financial assets and liabilities measured at fair value on a non-recurring basis. As it relates to the Company, ASC Topic 820 applies to certain non-financial assets and liabilities as may be acquired in a business combination and thereby measured at fair value, measurements of impairments, and the initial recognition of asset retirement obligations, for which fair value is used. ARO estimates are derived from historical costs as well as management's expectation of future cost environments. As there is no corroborating market activity to support the assumptions used, the Company has designated these measurements as Level 3. A reconciliation of the beginning and ending balances of the Company's ARO is presented in "Note 5 - Asset Retirement Obligations" . The Company recorded impairment charges of $13.9 million during the six months ended June 30, 2015 as a result of writing down the carrying value of certain proved properties to estimated fair value. The fair value of the properties impaired was $487.3 million as of June 30, 2015 . In order to determine the amounts of the impairment charges, Magnum Hunter compares net capitalized costs of proved oil and natural gas properties to estimated undiscounted future net cash flows using management's expectations of economically recoverable proved, probable, and possible reserves. If the net capitalized cost exceeds the undiscounted future net cash flows, Magnum Hunter impairs the net cost basis down to the discounted future net cash flows, which is management's estimate of fair value. Significant inputs used to determine the fair value include estimates of: (i) reserves; (ii) future operating and development costs; (iii) future commodity prices; and (iv) a discounted cash flow model utilizing a 10% discount rate. The underlying commodity prices embedded in the Company's estimated cash flows are the product of a process that begins with forward curve pricing, adjusted for estimated location and quality differentials, as well as other factors that Magnum Hunter's management believes will impact realizable prices. The inputs used by management for the fair value measurements utilized in this review include significant unobservable inputs, and therefore, the fair value measurements employed are classified as Level 3 for these types of assets. The Company recorded impairment charges of $16.8 million during the first quarter of 2014 in order to record MHP at the estimated selling price less costs to sell, based on additional information on estimated selling prices obtained through active marketing of the assets. The fair value of these net assets was $60.0 million as of March 31, 2014. The Company had designated this valuation as Level 3. Effective September 2014, the Company withdrew its plan to divest MHP. Consequently, the assets and liabilities of MHP are presented as held for use and the results of MHP's operations are presented in continuing operations for all periods presented in these interim consolidated financial statements.

INVESTMENTS AND DERIVATIVES

INVESTMENTS AND DERIVATIVES	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
INVESTMENTS AND DERIVATIVES	NOTE 7 - INVESTMENTS AND DERIVATIVES Investment Holdings - Available for Sale Securities The Company's investment holdings in available for sale securities are concentrated in three issuers whose business activities are related to the oil and natural gas or minerals mining industries. These investments are ancillary to the Company's overall operating strategy and such concentrations of risk related to investment holdings do not pose a substantial risk to the Company's operational performance. The Company evaluates factors that it believes could influence the fair value of the issuers' securities such as management, assets, earnings, cash generation, and capital needs. The fair values of equity securities fluctuate based upon changes in market prices. Gross unrealized losses on investments are considered for other-than-temporary impairment when such losses have continued for more than a 12-month period. However, security-specific circumstances may arise where an investment is considered impaired when gross unrealized losses have been observed for less than twelve months. At December 31, 2014 , the Company did not hold any equity securities which were in a gross unrealized loss position for greater than a year, and no impairments were recognized for the period then ended. At March 31, 2015, the Company's investment in New Standard Energy Limited ("NSE"), an Australian Securities Exchange-listed Australian company, was in a gross unrealized loss position for greater than a year. The Company reviewed its investment for impairment and considered such factors as NSE's future business outlook, the prevailing economic environment and the overall market condition for the Company's investment. As a result of its review, the Company recorded an other-than-temporary impairment of $9.0 million which was reclassified from accumulated other comprehensive income into "Other expense" on the consolidated statements of operations during the first quarter of 2015, related to the decline in value of its investment in NSE. Investment Holdings - GreenHunter The Company holds an equity method investment in common shares of GreenHunter received as partial consideration for the sale by Triad Hunter of its equity ownership interest in Hunter Disposal to GreenHunter in 2012. The GreenHunter common stock investment had no carrying value at June 30, 2015 or December 31, 2014 . The GreenHunter common shares are publicly traded and had a fair value of $1.3 million at June 30, 2015 and December 31, 2014 , which is not reflected in the carrying value since the Company's investment is accounted for using the equity method. Below is a summary of changes in investments for the six months ended June 30, 2015 : Available for Sale Securities (in thousands) Carrying value as of December 31, 2014 $ 3,864 Loss from equity method investment (1) (318 ) Change in fair value recognized in other comprehensive loss (1,099 ) Carrying value as of June 30, 2015 $ 2,447 (1) As a result of the carrying value of the Company's investment in common stock of GreenHunter being reduced to zero from equity method losses, the Company is required to allocate any additional losses to its investment in the Series C preferred stock of GreenHunter. The Company recorded additional equity method loss against the carrying value of its investment in the Series C preferred stock of GreenHunter before recording any mark-to-market adjustments. The Company's investments in available for sale securities have been presented in current assets as "Investments" in the consolidated balance sheet as of June 30, 2015 and December 31, 2014 . The cost for equity securities and their respective fair values as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 (in thousands) Cost Gross Unrealized Losses Fair Value Securities available for sale, carried at fair value: Equity securities $ 883 $ (174 ) $ 709 Equity securities - related party (see "Note 13 - Related Party Transactions") 2,200 (462 ) 1,738 Total Securities available for sale $ 3,083 $ (636 ) $ 2,447 December 31, 2014 (in thousands) Cost Gross Unrealized Losses Fair Value Securities available for sale, carried at fair value: Equity securities $ 9,876 $ (7,323 ) $ 2,553 Equity securities - related party (see "Note 13 - Related Party Transactions") 2,200 (889 ) 1,311 Total Securities available for sale $ 12,076 $ (8,212 ) $ 3,864 The methods of determining the fair values of Magnum Hunter's investments in equity securities are described in "Note 6 - Fair Value of Financial Instruments" . Commodity and Financial Derivative Instruments The Company periodically enters into certain commodity derivative instruments such as futures contracts, swaps, collars, and basis swap contracts. As a producer of oil and natural gas, the Company holds these commodity derivatives to protect the operating revenues and cash flows related to a portion of its future natural gas and crude oil sales from the risk of significant declines in commodity prices, which is intended to help reduce exposure to price risk and improve the likelihood of funding its capital budget. The commodity derivative contracts held by the Company as of June 30, 2015 are contracts which were in a net liability position at the time of termination of the majority of its commodity derivative contracts during May 2015. The Company has not designated any commodity derivative instruments as hedges. As of June 30, 2015 , the Company had the following commodity derivative instruments: Crude Oil Period Bbl/day Price per Bbl Ceilings sold (call) Jan 2015 - Dec 2015 1,570 $120.00 Floors sold (put) Jan 2015 - Dec 2015 259 $70.00 On May 7, 2015, the Company obtained consent under the MHR Senior Revolving Credit Facility to terminate the Company's open commodity derivative positions, so long as all such terminations occur prior to the November 1, 2015 borrowing base redetermination. See "Note 8 - Debt" . The Company received approximately $11.8 million in cash proceeds from the termination of the majority of its open commodity derivative positions that were terminated on May 7, 2015. As of June 30, 2015 , Citibank, N.A. is the only counterparty to the Company's commodity derivatives positions. Collateral securing the MHR Senior Revolving Credit Facility is used as collateral for the Company's commodity derivatives with those counterparties participating, currently or at the time the commodity derivative position was entered into, in the MHR Senior Revolving Credit Facility, under which the Company had outstanding borrowings of $5.0 million as of June 30, 2015 . Effective as of July 10, 2015, Citibank, N.A. is no longer a participant in the Company's credit facilities. The Company is exposed to credit losses in the event of nonperformance by the counterparties where the Company's open commodity derivative contracts are in a gain position. The Company does not anticipate nonperformance by the counterparties over the term of the commodity derivatives positions. See "Note 8 - Debt" . At June 30, 2015 , the Company also had a convertible security embedded derivative asset primarily due to the conversion feature of the promissory note received as partial consideration for the sale of Hunter Disposal. See " Note 6 - Fair Value of Financial Instruments " and " Note 13 - Related Party Transactions ". The following table summarizes the fair value of the Company's commodity and financial derivative contracts as of the dates indicated: Derivatives not designated as hedging instruments Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, (in thousands) Commodity Derivative assets $ — $ 16,511 $ — $ — Derivative liabilities — — 490 — Total commodity $ — $ 16,511 $ 490 $ — Financial Derivative assets $ 27 $ 75 $ — $ — Total financial $ 27 $ 75 $ — $ — Total derivatives $ 27 $ 16,586 $ 490 $ — Certain of the Company's derivative instruments are subject to enforceable master netting arrangements that provide for the net settlement of all derivative contracts between the Company and a counterparty in the event of default or upon the occurrence of certain termination events. The tables below summarize the Company's commodity derivatives and the effect of master netting arrangements on the presentation of those derivatives in the Company's consolidated balance sheets as of: June 30, 2015 Gross Amounts of Recognized Assets and Liabilities Gross Amounts Offset on the Consolidated Balance Sheet Net Amount (in thousands) Current liabilities: Fair value of derivative contracts (490 ) — (490 ) $ (490 ) $ — $ (490 ) December 31, 2014 Gross Amounts of Assets and Liabilities Gross Amounts Offset on the Consolidated Balance Sheet Net Amount (in thousands) Current assets: Fair value of derivative contracts $ 18,146 $ (1,635 ) $ 16,511 Current liabilities: Fair value of derivative contracts (1,635 ) 1,635 — $ 16,511 $ — $ 16,511 The following table summarizes the net gain (loss) on all derivative contracts included in gain (loss) on derivative contracts, net on the consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended 2015 2014 2015 2014 (in thousands) Gain (loss) on settled transactions $ (1,117 ) $ (2,267 ) $ 3,194 $ (4,551 ) Gain (loss) on open contracts 792 (739 ) (417 ) (4,044 ) Total gain (loss), net $ (325 ) $ (3,006 ) $ 2,777 $ (8,595 )

DEBT

DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
DEBT	NOTE 8 - DEBT Long-term debt at June 30, 2015 and December 31, 2014 consisted of the following: June 30, December 31, (in thousands) Senior Notes payable due May 15, 2020, interest rate of 9.75%, net of unamortized net discount of $2.5 million and $2.6 million at June 30, 2015 and December 31, 2014, respectively $ 597,459 $ 597,355 Various equipment and real estate notes payable with maturity dates February 2015 - November 2017, interest rates of 4.25% - 7.94% 18,078 22,238 MHR Senior Revolving Credit Facility due October 22, 2018, interest rate of 4.19% at June 30, 2015 and 2.92% at December 31, 2014 5,000 — MHR second lien term loan due October 22, 2019, interest rate of 8.5%, net of unamortized discount of $9.4 million and $10.0 million at June 30, 2015 and December 31, 2014, respectively 328,002 329,140 948,539 948,733 Less: current portion (9,854 ) (10,770 ) Total long-term debt obligations, net of current portion $ 938,685 $ 937,963 The following table presents the scheduled or expected approximate annual maturities of debt, gross of unamortized discount of $12.0 million as of June 30, 2015 : (in thousands) 2015 $ 4,912 2016 12,127 2017 5,948 2018 8,958 2019 325,757 Thereafter 602,826 Total $ 960,528 MHR Senior Revolving Credit Facility and Second Lien Term Loan Senior Revolving Credit Facility On October 22, 2014, the Company entered into the Fourth Amended and Restated Credit Agreement by and among the Company, as borrower, Bank of Montreal, as administrative agent, the lenders party thereto and the agents party thereto (the "Credit Agreement"). First Amendment to Credit Agreement and Limited Waiver On February 24, 2015, the Company entered into a First Amendment to Credit Agreement and Limited Waiver (the "First Amendment") that, among other things, (i) waived the then existing current ratio covenant requirement for the December 31, 2014 compliance period and (ii) lowered the current ratio requirement to 0.75 from 1.0 for the fiscal quarter ending March 31, 2015. Pursuant to the First Amendment, the current ratio requirement would have increased to 1.0 to 1.0 for the fiscal quarter ending June 30, 2015 and each fiscal quarter ending thereafter. The First Amendment also modified the leverage ratio requirement to remain at not more than 2.5 x beginning with the December 31, 2014 compliance period through the December 31, 2015 compliance period. In addition, the First Amendment provided that, until such time as the Company can demonstrate a (i) current ratio of 1.0 to 1.0 as of the last day of a fiscal quarter or, if there is a proposed Liquidity Event (described below) or other arms-length liquidity event with a non-affiliate or unrestricted subsidiary, demonstrate a current ratio of 1.0 to 1.0 on a pro forma basis as of the last day of a calendar month assuming that the Liquidity Event (or other liquidity event) had occurred during such calendar month and (ii) in the case of a decrease of the Rates for ABR Loans and Eurodollar Loans, pro forma compliance with the other applicable financial covenants as of the last day of the fiscal quarter most recently ended, (such period, the "Adjusted Period"), then: i. neither the Company nor any of its restricted subsidiaries were permitted to make additional investments in excess of $2 million in the aggregate in oil and gas properties (other than acreage swaps and associated assets) and other applicable assets; ii. neither the Company nor any of its restricted subsidiaries were permitted to make additional capital contributions to or other investments in unrestricted subsidiaries in amounts in excess of $2 million in the aggregate; and iii. the Company could not make any additional capital contributions to or other investments in Eureka Hunter Holdings. For purposes of the First Amendment, a "Liquidity Event" means any event or events resulting in (i) an increase in Liquidity (as defined in the Credit Agreement, as amended by the First Amendment) of at least $36,000,000 as a result of an arm's length transaction with a person or entity that is not an affiliate of the Company or (ii) the receipt by the Company or any restricted subsidiary of aggregate net cash proceeds of at least $73,000,000 as a result of one or more arm's length transactions with either (a) persons or entities who are not affiliates of the Company or (b) the Company's unrestricted subsidiaries. The First Amendment also provided that effective March 31, 2015, if a Liquidity Event (described in clause (i) of the preceding paragraph) had not occurred prior to such date, or April 30, 2015 if a proposed Liquidity Event described in clause (ii) of the preceding paragraph for which a pro forma current ratio calculation was used had not occurred prior to such date, the rates for ABR Loans and Eurodollar Loans would automatically increase by 1.00% and the commitment fee would automatically increase by 0.25% and such elevated rates would continue until the day immediately preceding the date on which the Adjusted Period ended. No Liquidity Event or proposed Liquidity Event for which a pro forma current ratio calculation was used had occurred as of April 30, 2015. Accordingly the rates for ABR Loans and Eurodollar Loans and the commitment fee were increased as described in the second preceding sentence. Second Amendment to Credit Agreement and Limited Waiver The Company entered into the Second Amendment to Credit Agreement and Limited Waiver (the "Second Amendment") on and effective as of April 17, 2015 by and among the Company, as borrower, Bank of Montreal, as administrative agent, and the several lenders and guarantors party thereto. The waiver required that certain events and conditions be satisfied by May 29, 2015 as further described below. The Second Amendment amended the Credit Agreement to: i. Extend the amount of time the Company and its Restricted Subsidiaries (as defined in the Credit Agreement) may have accounts payable outstanding after the invoice date from 90 days to 180 days for any day on or prior to May 29, 2015, after which the date the restriction would have reverted back to 90 days. ii. Condition the Company's ability to pay cash dividends on its three outstanding series of preferred stock as follows: 1. Payment of the preferred stock dividends for the month of April 2015 was permitted provided the Company's previously filed shelf registration statement (the "Shelf Registration Statement"), providing for, among other things, at-the-market ("ATM") offerings of equity securities of the Company, had been declared effective by the Securities and Exchange Commission (the "SEC") and the Company had executed an agreement (a "Sales Agreement") with an underwriter or sales agent to proceed with any such ATM offerings. The Shelf Registration Statement was declared effective on April 22, 2015 and the Company entered into a Sales Agreement on April 23, 2015. 2. Payment of the preferred stock dividends for the month of May 2015 was permitted provided the Company had received, by May 29, 2015, at least $65.0 million of aggregate net cash proceeds from the issuance by the Company of equity securities, permitted asset sales by the Company or any Restricted Subsidiary or the entry into a joint venture by the Company or any Restricted Subsidiary (including the receipt of any contemplated upfront payments therefrom). iii. Increase the applicable interest rate margins under the First Lien Credit Agreement by a nominal amount of 25 basis points. The applicable interest rate margins will automatically revert back to the lower levels in effect immediately prior to the effective date of the First Amendment when the Company demonstrates full compliance with its financial covenants under the Credit Agreement or compliance with such covenants on a pro forma basis giving effect to one or more Liquidity Events. In addition, pursuant to the Second Amendment, the lenders agreed to waive (i) effective as of March 31, 2015, compliance with the current ratio and leverage ratio covenants under the Credit Agreement for the fiscal quarter ended March 31, 2015 (which covenants, prior to the waiver, required a current ratio of not less than 0.75 to 1.0 , and leverage ratio of not more than 2.5 to 1.0 , for such fiscal quarter) and (ii) any default or event of default that may have occurred as a result of non-compliance with the accounts payable aging limitation in effect prior to the effective date of the Second Amendment, as described above. These waivers were subject to the Company having received, by May 29, 2015, at least $65.0 million of aggregate net cash proceeds from one or more of the issuance by the Company of equity securities, permitted asset sales by the Company or any Restricted Subsidiary or the entry into a joint venture by the Company or any Restricted Subsidiary (including the receipt of upfront payments therefrom) (the "Waiver Condition"). On May 7, 2015, the Company obtained consent under the MHR Senior Revolving Credit Facility to terminate the Company's open commodity derivative positions, so long as all such terminations occurred prior to the November 1, 2015 borrowing base redetermination. Such terminations have been contemplated and are reflected in the May 1, 2015 borrowing base redetermination. Following the May 1, 2015 borrowing base redetermination, the Company's borrowing base under the MHR Senior Revolving Credit Facility was maintained at $50 million . The Company terminated the majority of its open commodity derivative positions on May 7, 2015. See "Note 7 - Investments and Derivatives" . Third Amendment to Credit Agreement and Limited Consent On and effective as of May 28, 2015, the Company entered into the Third Amendment to Credit Agreement and Limited Consent (the "Third Amendment") by and among the Company, as borrower, Bank of Montreal, as administrative agent, and the several lenders and guarantors party thereto. The Third Amendment amended the Credit Agreement to: i. Extend the amount of time the Company and its Restricted Subsidiaries may have accounts payable outstanding after the invoice date from 90 days to 180 days for any day on or prior to June 19, 2015 (rather than May 29, 2015, as provided in the Second Amendment), after which June 19, 2015 date the restriction would have reverted back to 90 days; and ii. Remove the condition, previously added by the Second Amendment, on the Company's ability to pay cash dividends on its three outstanding series of preferred stock for the month of May 2015, so that the Company may pay such dividends as scheduled on June 1, 2015 without regard to such condition. In addition, pursuant to the Third Amendment, the lenders agreed to extend the deadline for Magnum Hunter to satisfy the Waiver Condition from May 29, 2015 to June 19, 2015. Fourth Amendment to Credit Agreement and Limited Consent On and effective as of June 19, 2015, the Company entered into the Fourth Amendment to Credit Agreement and Limited Consent (the "Fourth Amendment") by and among the Company, as borrower, Bank of Montreal, as administrative agent, and the several lenders and guarantors party thereto. The Fourth Amendment amended the Credit Agreement to extend the amount of time the Company and its Restricted Subsidiaries may have accounts payable outstanding after the invoice date from 90 days to 180 days for any day on or prior to July 10, 2015, after which July 10, 2015 date the restriction would have reverted back to 90 days. In addition, pursuant to the Fourth Amendment, the lenders agreed to extend the deadline for Magnum Hunter to satisfy the Waiver Condition from June 19, 2015 to July 10, 2015. Fifth Amendment to Credit Agreement and Limited Waiver On and effective as of July 10, 2015, the Company entered into the Fifth Amendment to Credit Agreement and Limited Waiver (the "Fifth Amendment") by and among the Company, as borrower, Bank of Montreal, as administrative agent, and the several lenders and guarantors party thereto. The Fifth Amendment amended the Credit Agreement to, among other things: i. Permanently eliminate the Company's obligation to raise $65.0 million in net cash proceeds from one or more of the issuance by the Company of equity securities, permitted asset sales by the Company or any Restricted Subsidiary or the entry into a joint venture by the Company or any Restricted Subsidiary (including the receipt of upfront payments therefrom); ii. Extend the amount of time the Company and its Restricted Subsidiaries may have accounts payable outstanding after the invoice date from 90 days to 180 days for any day on or prior to the earlier of (a) December 31, 2015 or (b) the date that is ten business days following the date on which the Company consummates the sale of all or substantially all of the Company's equity ownership interest in Eureka Hunter Holdings (the date of such sale, the "Trigger Date"), after which earlier date the restriction will revert back to 90 days; and iii. Permit certain lenders to sell and assign their rights and obligations under the Credit Agreement to the Bank of Montreal. In addition, the Fifth Amendment includes a waiver of compliance by the Company with the current ratio and leverage ratio covenants for the fiscal quarter ended June 30, 2015 (which covenants, prior to the waiver, required a current ratio of not less than 1.0 to 1.0 and a leverage ratio of not more than 2.5 to 1.0 ) and for each fiscal quarter ending thereafter until the earlier of (i) the fiscal quarter ending December 31, 2015 or (ii) the fiscal quarter in which the Trigger Date occurs, at which time the waiver of these financial covenants will no longer be in effect commencing with the earlier of the fiscal quarters referred to in clauses (i) and (ii) of this sentence. Upon expiration of the waiver of these financial covenants, the Company will be required to maintain (i) a current ratio of not less than 1.0 to 1.0 for the fiscal quarter during which the waiver expired and each quarter ending thereafter and (ii) a leverage ratio of not more than (a) 2.5 to 1.0 for the fiscal quarters ending September 30, 2015 (if the Trigger Date occurs during such fiscal quarter) and December 31, 2015 and (b) 2.0 to 1.0 for the fiscal quarter ending March 31, 2016 and for each fiscal quarter ending thereafter. As of June 30, 2015 , the borrowing base under the Senior Revolving Credit Facility was $50.0 million , and outstanding borrowings were $5.0 million . The Company also posted letters of credit for $39.0 million using availability under the Company's Senior Revolving Credit Facility. As of June 30, 2015 , the borrowing capacity under the Senior Revolving Credit Facility was $6.0 million . On July 27, 2015, the Company became aware of a technical default under the Credit Agreement, as amended. In accordance with the terms of the Credit Agreement, as amended, the Company may not have accounts payable outstanding in excess of 180 days from the invoice date for any day on or prior to the earlier of (a) December 31, 2015 or (b) the Trigger Date, after which earlier date the restriction will revert back to 90 days. As of August 7, 2015, the Company had approximately $8.8 million in accounts payable, in excess of permissible amounts provided for in the Credit Agreement, which were outstanding in excess of 180 days from the invoice date. Under the Credit Agreement, the Company has 30 days to cure this technical default and expects to cure the technical default within the 30 day deadline, on or before August 26, 2015. Between July 27, 2015 and August 7, 2015, the Company realized net proceeds of $6.0 million from the sale of the Company's common stock through an ATM sales program, which proceeds were used to reduce the amount of accounts payable outstanding in excess of 180 days from the invoice date, as well as proceeds from the final settlement of the sale of unproved, undeveloped leasehold acreage to Antero and cash on hand. The Company plans to continue utilizing proceeds from non-core asset sales and a limited amount of ATM offerings of its equity securities to cure the technical default and to maintain these minimum credit requirements in the future. Second Lien Term Loan On October 22, 2014, the Company entered into a Second Lien Credit Agreement (the "Second Lien Term Loan Agreement"), by and among the Company, as borrower, Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, the lenders party thereto and the agents party thereto. The Second Lien Term Loan Agreement also requires the Company to satisfy certain financial covenants, including maintaining: i. a ratio of the present value of proved reserves using five year strip pricing to secured debt of not less than 1.5 to 1.0 and a ratio of the present value of proved developed and producing reserves using five year strip pricing to secured debt of not less than 1.0 to 1.0 , each as of the last day of any fiscal quarter commencing with the fiscal quarter ending December 31, 2014; and ii. commencing with the fiscal quarter ending March 31, 2016, a leverage ratio (secured net debt to EBITDAX (as defined in the Second Lien Term Loan Agreement) with a limitation on netting of up to $100,000,000 of unencumbered cash) of not more than 2.5 to 1.0 as of the last day of any fiscal quarter for the trailing four-quarter period then ended. On and effective as of April 17, 2015, the Company entered into a First Amendment to Credit Agreement and Limited Waiver (the "Second Lien Amendment"), by and among the Company, as borrower, Credit Suisse AG Cayman Islands Branch, as administrative agent and collateral agent, and the several lenders and guarantors party thereto. The Second Lien Amendment amended the Second Lien Term Loan Agreement by permanently extending the amount of time the Company and its Restricted Subsidiaries (as defined in the Second Lien Term Loan Agreement) may have accounts payable outstanding after the invoice date from 90 days to 180 days. In addition, pursuant to the Second Lien Amendment, the lenders waived any default or event of default that may have occurred in connection with any non-compliance with the accounts payable aging limitation in effect prior to the effective date of the Second Lien Amendment. At June 30, 2015 , the Company was in compliance with the proved reserves and proved developed and producing reserves coverage ratio financial covenants applicable for the period, contained in the Second Lien Term Loan Agreement. On July 27, 2015, the Company became aware of a technical default under the Second Lien Term Loan Agreement, as amended. In accordance with the terms of the Second Lien Term Loan Agreement, as amended, the Company may not have accounts payable outstanding in excess of 180 days from the invoice date. As of August 7, 2015, the Company had approximately $8.8 million in accounts payable, in excess of permissible amounts provided for in the Credit Agreement, which were outstanding in excess of 180 days from the invoice date. The Company has 30 days to cure this technical default and expects to cure the technical default within the 30 day deadline, on or before August 26, 2015. Between July 27, 2015 and August 7, 2015, the Company realized net proceeds of $6.0 million from the sale of shares of its common stock through the ATM program, which proceeds were used to reduce the amount of accounts payable outstanding in excess of 180 days from the invoice date, as well as proceeds from the final settlement of the sale of unproved, undeveloped leasehold acreage to Antero and cash on hand. The Company plans to continue utilizing proceeds from non-core asset sales and a limited amount of ATM offerings of its equity securities to cure the technical default and to maintain these minimum credit requirements in the future. Interest Expense The following table sets forth interest expense for the three and six month periods ended June 30, 2015 and 2014 , respectively: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Interest expense incurred on debt, net of amounts capitalized $ 23,262 $ 15,937 $ 45,920 $ 33,084 Amortization and write-off of deferred financing costs 840 3,939 1,647 4,807 Total interest expense $ 24,102 $ 19,876 $ 47,567 $ 37,891 For the six -month period ended June 30, 2014 , interest expense incurred on debt includes $1.7 million in unamortized deferred financing costs related to the amendment of the MHR Senior Revolving Credit Facility.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	NOTE 9 - SHARE-BASED COMPENSATION Employees, officers, directors, and other persons who contribute to the success of Magnum Hunter are eligible for grants of unrestricted common stock, restricted common stock, common stock options, and stock appreciation rights under the Company's Amended and Restated Stock Incentive Plan. At June 30, 2015 , 27,500,000 shares of the Company's common stock are authorized to be issued under the plan, and 12,399,175 shares had been issued under the plan as of June 30, 2015 , of which 2,308,084 shares were unvested at June 30, 2015 . Additionally, 10,747,306 options to purchase shares and stock appreciation rights were outstanding as of June 30, 2015 , of which 2,314,793 were unvested at June 30, 2015 . The Company recognized share-based compensation expense of $1.7 million and $4.8 million for the three and six months ended June 30, 2015 , respectively, and $2.3 million and $3.4 million for the three and six months ended June 30, 2014 , respectively. A summary of common stock option activity for the six months ended June 30, 2015 and 2014 is presented below: Six Months Ended June 30, 2015 2014 2015 2014 (in thousands of shares) Weighted Average Exercise Price per Share Outstanding at beginning of period 13,195 16,891 $ 5.92 $ 5.69 Granted — — $ — $ — Exercised — (2,115 ) $ — $ 4.14 Forfeited (2,448 ) (932 ) $ 6.43 $ 6.32 Outstanding at end of period 10,747 13,844 $ 5.81 $ 5.88 Exercisable at end of period 8,433 9,478 $ 5.91 $ 6.20 A summary of the Company's non-vested common stock options and stock appreciation rights for the six months ended June 30, 2015 and 2014 is presented below: Six Months Ended June 30, 2015 2014 (in thousands of shares) Non-vested at beginning of period 4,055 6,908 Granted — — Vested (1,356 ) (1,801 ) Forfeited (385 ) (741 ) Non-vested at end of period 2,314 4,366 Total unrecognized compensation cost related to the non-vested common stock options and stock appreciation rights was $1.1 million and $6.3 million as of June 30, 2015 and 2014 , respectively. The unrecognized compensation cost at June 30, 2015 is expected to be recognized over a weighted-average period of 0.68 years. At June 30, 2015 , the weighted average remaining contract life of outstanding options was 4.56 years . On March 30, 2015, the Company granted 535,274 shares of common stock for 2014 bonuses to executives and officers of the Company. The shares had a fair value at the time of grant of $1.4 million based on the Company's stock price on the grant date. On June 18, 2015, the Company granted 600,000 restricted shares of common stock to non-employee members of the board of directors of the Company which vest two years from the date of grant, or if earlier, (i) upon the death or disability of the director or (ii) upon a change in control of the Company that occurs at least six months following the date of grant. The shares had a fair value at the time of grant of $0.7 million based on the Company's stock price on the grant date and an estimated forfeiture rate of 5.6% . During the six months ended June 30, 2015 , the Company also granted an additional 105,000 restricted shares of common stock to certain newly hired officers which vest over a 3 -year period, and which had a fair value at the time of grant of $0.3 million based on the Company's stock price on the grant date and an estimated forfeiture rate of 5.6% . Total unrecognized compensation cost related to non-vested, restricted shares amounted to $6.8 million and $8.3 million as of June 30, 2015 and 2014 , respectively. The unrecognized cost at June 30, 2015 is expected to be recognized over a weighted-average period of 1.64 years.

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 10 - SHAREHOLDERS' EQUITY Common Stock During the six months ended June 30, 2015 , the Company issued 1,100,937 shares of the Company's common stock in connection with share-based compensation which had fully vested to senior management and directors of the Company. On March 13, 2015, the Company filed a universal shelf Form S-3 Registration Statement to register the sale by the Company of a maximum aggregate amount of up to $500 million of debt and equity securities. The Company filed amendments to this Form S-3 Registration Statement on April 15, 2015 and April 20, 2015 and the Form S-3 Registration Statement became effective on April 22, 2015. On April 23, 2015, the Company entered into an "At the Market" Sales Agreement with a sales agent to conduct ATM offerings of its equity securities. As of June 30, 2015 , the Company had sold an aggregate of 11,441,596 shares of its common stock for aggregate proceeds of $21.8 million net of $0.6 million in sales commissions and other fees through this ATM offering under the Form S-3 Registration Statement. Preferred Dividends Incurred A summary of the Company's preferred dividends for the three and six months ended June 30, 2015 and 2014 is presented below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Dividend on Series C Preferred Stock $ 2,562 $ 2,562 $ 5,124 $ 5,124 Dividend on Series D Preferred Stock 4,425 4,425 8,849 8,849 Dividend on Series E Preferred Stock 1,860 1,861 3,722 3,695 Total dividends on Preferred Stock $ 8,847 $ 8,848 $ 17,695 $ 17,668 Dividend on Eureka Hunter Holdings Series A Preferred Units $ — $ 4,253 $ — $ 8,281 Accretion of the carrying value of the Eureka Hunter Holdings Series A Preferred Units — 2,229 — 4,277 Total dividends on Preferred Stock of discontinued operations $ — $ 6,482 $ — $ 12,558 Net Income or Loss per Share Data Basic income or loss per common share is computed by dividing the income or loss attributable to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted income or loss per common share considers the impact to net income and common shares for the potential dilution from stock options and stock appreciation rights, common stock purchase warrants and any outstanding convertible securities. The Company has issued potentially dilutive instruments in the form of restricted common stock of Magnum Hunter granted and not yet issued, common stock warrants, common stock options granted to the Company's employees and directors, and the Company's Series E Preferred Stock. The Company did not include any of these instruments in its calculation of diluted loss per share during the periods presented, because to include them would be anti-dilutive due to the Company's loss from continuing operations during those periods. The following table summarizes the types of potentially dilutive securities outstanding as of June 30, 2015 and 2014 : June 30, 2015 2014 (in thousands of shares) Series E Preferred Stock 10,946 10,946 Warrants 19,173 19,214 Unvested restricted shares 2,242 1,475 Common stock options and stock appreciation rights 10,747 13,844 Total 43,108 45,479

REDEEMABLE PREFERRED STOCK

REDEEMABLE PREFERRED STOCK	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
REDEEMABLE PREFERRED STOCK	NOTE 11 - REDEEMABLE PREFERRED STOCK Eureka Hunter Holdings Series A Preferred Units On March 21, 2012, Eureka Hunter Holdings entered into a Series A Convertible Preferred Unit Purchase Agreement (the "Unit Purchase Agreement") with Magnum Hunter and Ridgeline Midstream Holdings, LLC ("Ridgeline"). Pursuant to this Unit Purchase Agreement, Ridgeline had purchased $200.0 million of Eureka Hunter Holdings Series A Preferred Units as of September 16, 2014. On September 16, 2014, the Company entered into an agreement (the "Transaction Agreement") with MSI and Eureka Hunter Holdings relating to a separate purchase agreement between MSI and Ridgeline providing for the purchase by MSI of all the Eureka Hunter Holdings Series A Preferred Units and Class A Common Units owned by Ridgeline. The Transaction Agreement also provided for the execution of the LLC Agreement to be entered into by Magnum Hunter, MSI and the minority interest members of Eureka Hunter Holdings contingent upon and contemporaneously with the closing of MSI's purchase of Ridgeline's equity interests in Eureka Hunter Holdings, which occurred on October 3, 2014. In accordance with the terms of the LLC Agreement, all of the Eureka Hunter Holdings Series A Preferred Units and Class A Common Units of Eureka Hunter Holdings acquired by MSI from Ridgeline were converted into Series A-2 Common Units, a new class of equity interests of Eureka Hunter Holdings, which were subsequently derecognized by the Company and included in the gain on deconsolidation of Eureka Hunter Holdings on December 18, 2014.

TAXES

TAXES	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Taxes	NOTE 12 - TAXES The Company did not recognize an income tax benefit or expense from continuing operations for the three and six months ended June 30, 2015 and 2014 as a result of its large net operating losses and corresponding valuation allowance. The Company recognizes deferred income taxes for the future tax consequences attributable to differences between the financial statement carrying amounts of the existing assets and liabilities and their respective tax basis and net operating loss and credit carry forwards. The Company maintains a full valuation allowance on deferred tax assets where the realization of those deferred tax assets is not more likely than not. The valuation allowance will continue to be recognized until the realization of future deferred tax benefits is more likely than not to be utilized. The Company files income tax returns in the United States, various states and Canada. As of June 30, 2015 , no adjustments have been proposed by any tax jurisdiction that would have a significant impact on the Company's liquidity, future results of operations or financial position.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 13 - RELATED PARTY TRANSACTIONS The following table sets forth the related party balances as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) GreenHunter (1) Accounts payable - net $ (809 ) $ (224 ) Derivative assets (2) $ 27 $ 75 Investments (2) $ 1,738 $ 1,311 Notes receivable (2) $ 952 $ 1,224 Prepaid expenses $ — $ 1,000 Eureka Hunter Holdings (3) Accounts receivable (payable) - net $ (5,053 ) $ 122 Assets of discontinued operations $ 345,318 $ 347,191 Pilatus Hunter Accounts receivable - net $ 12 $ 12 Classic Petroleum, Inc. (5) Accounts payable $ (304 ) $ — The Company holds investments in a related party consisting of 1,846,722 shares of common stock of GreenHunter with no carrying value as of June 30, 2015 and 88,000 shares of Series C preferred stock of GreenHunter with a carrying value of $1.7 million as of June 30, 2015 . The following table sets forth the related party transaction activities for the three and six months ended June 30, 2015 and 2014 , respectively: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) GreenHunter Production costs (1) $ 1,288 $ 632 $ 2,199 $ 1,076 Midstream natural gas gathering, processing, and marketing $ — $ 400 $ — $ 400 Oilfield services (1) $ 71 $ — $ 104 $ — General and administrative (1) $ 6 $ 13 $ 12 $ 36 Interest income (2) $ 39 $ 38 $ 70 $ 83 Miscellaneous income (2) $ 55 $ 55 $ 110 $ 110 Loss from equity method investment (2) $ 87 $ 135 $ 318 $ 357 Capitalized costs incurred (1) $ 19 $ 1,192 $ 465 $ 1,810 Pilatus Hunter, LLC (4) General and administrative $ 25 $ 88 $ 36 $ 158 Eureka Hunter Holdings (3) Production costs $ 478 $ — $ 596 $ — Transportation, processing, and other related costs $ 4,973 $ — $ 10,714 $ — Oilfield Services $ 13 $ — $ 16 $ — Capitalized costs incurred $ — $ — $ 121 $ — Classic Petroleum (5) Capitalized costs incurred $ 23 $ 212 $ 185 $ 524 _________________________________ (1) GreenHunter is an entity of which Gary C. Evans, the Company's Chairman and CEO, is the Chairman and a major shareholder. Triad Hunter and Viking International Resources Co., Inc., wholly-owned subsidiaries of the Company, receive services related to brine water and rental equipment from GreenHunter and certain affiliated companies. The Company believes that such services were and are provided at competitive market rates and were and are comparable to, or more attractive than, rates that could be obtained from unaffiliated third party suppliers of such services. (2) On February 17, 2012, the Company sold its wholly-owned subsidiary, Hunter Disposal, to GreenHunter Water, LLC ("GreenHunter Water"), a wholly-owned subsidiary of GreenHunter. The Company recognized an embedded derivative asset resulting from the conversion option under the convertible promissory note it received as partial consideration for the sale. See "Note 6 - Fair Value of Financial Instruments" for additional information. The Company has recorded interest income as a result of the note receivable from GreenHunter. Also as a result of this transaction, the Company has an equity method investment in GreenHunter that is included in derivatives and investment in affiliates - equity method and an available for sale investment in GreenHunter included in investments. (3) Following a series of transactions up to and including, December 18, 2014, the Company no longer held a controlling financial interest in Eureka Hunter Holdings. The Company deconsolidated Eureka Hunter Holdings and accounts for its retained interest as of December 31, 2014 under the equity method of accounting. See "Note 7 - Investments and Derivatives" . As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" , in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented. (4) The Company rented an airplane for business use for certain members of Company management at various times from Pilatus Hunter, LLC, an entity 100% owned by Mr. Evans. Airplane rental expenses are recorded in general and administrative expense. (5) Classic Petroleum, Inc. is an entity owned by the brother of James W. Denny, III, the Company's Executive Vice President and President of the Company's Appalachian Division. Triad Hunter received land brokerage services from Classic Petroleum, Inc., including courthouse abstracting, contract negotiations, GIS mapping and leasing services. In connection with the sale of Hunter Disposal, Triad Hunter entered into agreements with Hunter Disposal and GreenHunter Water for wastewater hauling and disposal capacity in Kentucky, Ohio, and West Virginia and a five -year tank rental agreement with GreenHunter Water. On December 22, 2014, Triad Hunter entered into an Amendment to Produced Water Hauling and Disposal Agreement with GreenHunter Water to secure long-term water disposal at reduced rates through December 31, 2019. To ensure disposal capacity, in connection with the amendment on December 29, 2014, Triad Hunter made a prepayment of $1.0 million towards services to be provided under the Produced Water Hauling and Disposal Agreement. GreenHunter Water provided a 50% credit for all services performed under the agreement until the prepayment amount was utilized in full, which occurred during the first half of 2015. As of June 30, 2015 , the Company had a note receivable from GreenHunter with an outstanding principal balance of approximately $1.0 million . Under the terms of the promissory note, GreenHunter is required to make quarterly payments to the Company comprised of principal of $137,500 and accrued interest through the maturity of the note in February 2017. Under the terms of the note, failure to pay timely is considered an event of default. As of March 31, 2015, GreenHunter was past due on principal and interest payments in aggregate of $168,437 , which were due on February 17, 2015. On May 4, 2015, GreenHunter made this past due principal and interest payment of $168,437 . As of June 30, 2015 , Mr. Evans, the Company's Chairman and Chief Executive Officer, held 27,641 Series A-1 Common Units of Eureka Hunter Holdings. Triad Hunter and Eureka Hunter Pipeline are parties to an Amended and Restated Gas Gathering Services Agreement, which was executed on March 21, 2012, and amended on October 3, 2014 in contemplation of the LLC Agreement. Under the terms of the gathering agreement, Triad Hunter reserved throughput capacity in the gas gathering pipeline system of Eureka Hunter Holdings for which Triad Hunter has committed to minimum reservation fees of approximately $0.75 per MMBtu. Upon the deconsolidation of Eureka Hunter Holdings on December 18, 2014, Eureka Hunter Holdings and its subsidiaries became related parties of the Company. The Company and Eureka Hunter Holdings entered into a Services Agreement on March 20, 2012, and amended on September 15, 2014, under which the Company agreed to provide administrative services to Eureka Hunter Holdings related to its operations. The terms of the Services Agreement provide that the Company will receive an administrative fee of $500,000 per annum and a personnel services fee equal to the Company's employee cost plus 1.5% subject to mutually agreed upon increases from time to time. Under the terms of the LLC Agreement, certain specified employees of the Company that perform services for Eureka Hunter Holdings and its subsidiaries and for whom the Company previously billed a personnel services fee, are expected to become employees of Eureka Hunter Holdings or a subsidiary of Eureka Hunter Holdings. On July 18, 2014, the Company entered into a consulting agreement with Kirk J. Trosclair, a former executive of Alpha Hunter Drilling, LLC, a wholly-owned subsidiary of the Company. Mr. Trosclair ceased employment with the Company on July 18, 2014 and is currently the Chief Operating Officer of GreenHunter. The agreement has a term of 12 months and provides that Mr. Trosclair will receive monthly compensation of $10,000 , and Mr. Trosclair is eligible to continue vesting in previously granted stock options and unvested restricted stock awards, subject to continued service under the consulting agreement. In connection with this agreement, for the six months ended June 30, 2015 , the Company paid Mr. Trosclair $89,000 , which includes reimbursement of expenses incurred on behalf of the Company, and recognized $76,000 in stock compensation expense.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 - COMMITMENTS AND CONTINGENCIES Agreement to Purchase Utica Shale Acreage On August 12, 2013, Triad Hunter entered into an asset purchase agreement with MNW. Pursuant to the purchase agreement, Triad Hunter has agreed to acquire from MNW up to 32,000 net mineral acres, including currently leased and subleased acreage, located in such counties, over a period of time, in staggered closings, subject to certain conditions. On January 14, 2015, Triad Hunter closed on the acquisition of 2,665 net leasehold acres for $12.0 million from MNW. To date, under the asset purchase agreement, Triad Hunter has now acquired a total of approximately 25,044 net leasehold acres from MNW, or approximately 78.3% of the approximately 32,000 total net leasehold acres anticipated under the asset purchase agreement. Drilling Rig Purchase During June 2014, the Company, through its wholly-owned subsidiary, Alpha Hunter Drilling, LLC, executed an agreement to purchase a new drilling rig for a total purchase price of approximately $6.5 million , including a $1.3 million deposit due on July 1, 2014 with the remainder due upon delivery, which was expected to be on or about January 15, 2015. In February 2015, the Company was notified that the rig was complete and available for delivery. However, the Company has not taken delivery of the rig and and has initiated negotiations to apply the deposit towards a trade on a different drilling rig or associated equipment. Legal Proceedings Securities Cases On April 23, 2013, Anthony Rosian, individually and on behalf of all other persons similarly situated, filed a class action complaint in the United States District Court, Southern District of New York, against the Company and certain of its officers, two of whom, at that time, also served as directors, and one of whom continues to serve as a director. On April 24, 2013, Horace Carvalho, individually and on behalf of all other persons similarly situated, filed a similar class action complaint in the United States District Court, Southern District of Texas, against the Company and certain of its officers. Several substantially similar putative class actions were filed in the Southern District of New York and in the Southern District of Texas. All such cases are collectively referred to as the Securities Cases. The cases filed in the Southern District of Texas have since been dismissed. The cases filed in the Southern District of New York were consolidated and have since been dismissed. The plaintiffs in the Securities Cases had filed a consolidated amended complaint alleging that the Company made certain false or misleading statements in its filings with the SEC, including statements related to the Company's internal and financial controls, the calculation of non-cash share-based compensation expense, the late filing of the Company's 2012 Form 10-K, the dismissal of Magnum Hunter's previous independent registered accounting firm, the Company's characterization of the auditors' position with respect to the dismissal, and other matters identified in the Company's April 16, 2013 Form 8-K, as amended. The consolidated amended complaint asserted claims under Sections 10(b) and 20 of the Exchange Act based on alleged false statements made regarding these issues throughout the alleged class period, as well as claims under Sections 11, 12, and 15 of the Securities Act based on alleged false statements and omissions regarding the Company's internal controls made in connection with a public offering that Magnum Hunter completed on May 14, 2012. The consolidated amended complaint demanded that the defendants pay unspecified damages to the class action plaintiffs, including damages allegedly caused by the decline in the Company's stock price between February 22, 2013 and April 22, 2013. In January 2014, the Company and the individual defendants filed a motion to dismiss the Securities Cases. On June 23, 2014, the United States District Court for the Southern District of New York granted the Company's and the individual defendants' motion to dismiss the Securities Cases and, accordingly, the Securities Cases have now been dismissed. The plaintiffs subsequently appealed the decision dismissing the Securities Cases to the U.S. Court of Appeals for the Second Circuit. One June 23, 2015, the U.S. Court of Appeals for the Second Circuit entered a Summary Order unanimously affirming the Southern District of New York's dismissal of the Securities Cases in favor of the Company and the individual defendants. It is possible that additional investor lawsuits could be filed over these events. On May 10, 2013, Steven Handshu filed a stockholder derivative suit in the 151st Judicial District Court of Harris County, Texas on behalf of the Company against the Company's directors and senior officers. On June 6, 2013, Zachariah Hanft filed another stockholder derivative suit in the Southern District of New York on behalf of the Company against the Company's directors and senior officers. On June 18, 2013, Mark Respler filed another stockholder derivative suit in the District of Delaware on behalf of the Company against the Company's directors and senior officers. On June 27, 2013, Timothy Bassett filed another stockholder derivative suit in the Southern District of Texas on behalf of the Company against the Company's directors and senior officers. On September 16, 2013, the Southern District of Texas allowed Joseph Vitellone to substitute for Mr. Bassett as plaintiff in that action. On March 19, 2014 Richard Harveth filed another stockholder derivative suit in the 125th District Court of Harris County, Texas. These suits are collectively referred to as the Derivative Cases. The Derivative Cases assert that the individual defendants unjustly enriched themselves and breached their fiduciary duties to the Company by publishing allegedly false and misleading statements to the Company's investors regarding the Company's business and financial position and results, and allegedly failing to maintain adequate internal controls. The complaints demand that the defendants pay unspecified damages to the Company, including damages allegedly sustained by the Company as a result of the alleged breaches of fiduciary duties by the defendants, as well as disgorgement of profits and benefits obtained by the defendants, and reasonable attorneys', accountants' and experts' fees and costs to the plaintiff. On December 20, 2013, the United States District Court for the Southern District of Texas granted the Company's motion to dismiss the stockholder derivative case maintained by Joseph Vitellone and entered a final judgment of dismissal. The court held that Mr. Vitellone failed to plead particularized facts demonstrating that pre-suit demand on the Company's board was excused. In addition, on December 13, 2013, the 151st Judicial District Court of Harris County, Texas dismissed the lawsuit filed by Steven Handshu for want of prosecution after the plaintiff failed to serve any defendant in that matter. On January 21, 2014, the Hanft complaint was dismissed with prejudice after the plaintiff in that action filed a voluntary motion for dismissal. On February 18, 2014, the United States District Judge for the District of Delaware granted the Company's supplemental motion to dismiss the Derivative Case filed by Mark Respler. On July 22, 2014, the 125th District Court of Harris County, Texas issued an Order and Final Judgment granting the Company's and the individual defendants' motion for summary judgment in its entirety and entering a final judgment dismissing the suit filed by Richard Harveth. The plaintiffs may file an appeal. All of the Derivative Cases have now been dismissed. It is possible that additional stockholder derivative suits could be filed over these events. In addition, the Company has received several demand letters from stockholders seeking books and records relating to the allegations in the Securities Cases and the Derivative Cases under Section 220 of the Delaware General Corporation Law. On September 17, 2013, Anthony Scavo, who is one of the stockholders that made a demand, filed a books and records action in the Delaware Court of Chancery pursuant to Section 220 of the Delaware General Corporation Law ("Scavo Action"). The Scavo Action seeks various books and records relating to the claims in the Securities Cases and the Derivative Cases, as well as costs and attorneys' fees. The Company has filed an answer in the Scavo Action, which has now been dismissed. It is possible that additional similar actions may be filed and that similar stockholder demands could be made. In April 2013, the Company also received a letter from the staff of the SEC's Division of Enforcement (the "Staff") stating that the Staff was conducting an inquiry regarding the Company's internal controls, change in outside auditors and public statements to investors and asking the Company to preserve documents relating to these matters. The Company is complying with this request. On December 30, 2013, the Company received a document subpoena relating to the issues identified in the April 2013 letter. In 2014, the SEC issued additional subpoenas for documents and testimony and has taken testimony from certain individuals. The Company intends to cooperate with the subpoenas. In connection with the Staff's inquiry, on March 24, 2015, the Company received a "Wells Notice" from the Staff, stating that the Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company. On that date, the Staff issued similar Wells Notices to Gary C. Evans, the Company's Chairman and Chief Executive Officer, J. Raleigh Bailes, Sr., a director of the Company and former Chairman of the Company's Audit Committee, the former chief financial officer of the Company who was in office at the time of the Company's decision to dismiss its prior independent registered public accounting firm and the former chief accounting officer of the Company who had resigned from that position with the Company in October 2012. The Wells Notice issued to the Company states that the proposed action against the Company would allege violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 and Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934 and Rules 13a-l, 13a-13, and 13a-15(a) thereunder. The proposed actions against the individuals would allege violations of those same provisions, as well as violations of Section 13(b)(5) of the Securities Exchange Act of 1934 and Rules 13a-14 and 13a-15(c) thereunder. The proposed actions described in the Wells Notices do not include any claims for securities fraud under Section 10(b) of the Securities Exchange Act of 1934 or Rule 10b-5 thereunder or under Section 17(a)(1) of the Securities Act of 1933. The Wells Notices state that the Staff's recommendation may involve a civil injunctive action, public administrative proceeding, and/or cease-and-desist proceeding, and may seek remedies that might include, among other things, a cease-and-desist order, injunctions, disgorgement with pre-judgment interest and civil money penalties, as well as potential administrative remedies against Mr. Bailes under Rule 102(e)(1)(iii) of the SEC's Rules of Practice. A Wells Notice is neither a formal allegation nor a finding of wrongdoing. It allows the recipient the opportunity, through a "Wells Submission", to provide the recipient's reasons of law, policy or fact as to why the proposed enforcement action should not be filed and to address the issues raised by the Staff before any decision is made by the SEC on whether to authorize the commencement of an enforcement proceeding. On April 21, 2015, the Company responded to its Wells Notice in the form of a Wells Submission, pursuant to which the Company set forth why it believes an enforcement action against it and the individuals should not be commenced. The Company has engaged and continues to engage in discussions with the Staff regarding the issues raised in the Wells Notices. The Company cannot predict with confidence or certainty the ultimate outcome of the SEC process, including whether a settlement with respect to the issues raised in the Wells Notices may be reached with the Staff. If an enforcement action is subsequently brought against the Company by the SEC, the Company intends to mount a vigorous defense consistent with the defenses that were successfully mounted with respect to all of the previous Securities Cases and Derivative Cases. Any potential liability, if any, from these claims cannot currently be estimated. Twin Hickory Matter On April 11, 2013, a flash fire occurred at Eureka Hunter Pipeline's Twin Hickory site located in Tyler County, West Virginia. The incident occurred during a pigging operation at a natural gas receiving station. Two employees of third-party contractors received fatal injuries. Another employee of a third-party contractor was also injured. In mid-February 2014, the estate of one of the deceased third-party contractor employees sued Eureka Hunter Pipeline and certain other parties in a case styled Karen S. Phipps v. Eureka Hunter Pipeline, LLC et al., Civil Action No. 14-C-41, in the Circuit Court of Ohio County, West Virginia. In October 2014, in a case styled Exterran Energy Solutions, LP v. Eureka Hunter Pipeline, LLC and Magnum Hunter Resources Corporation, Civil Action No. 2014-63353, in the District Court of Harris County, Texas, Exterran Energy Solutions, LP, one of the co-defendants in the Phipps lawsuit, filed suit against the Company and Eureka Hunter Pipeline seeking a declaratory judgment that Eureka Hunter Pipeline is obligated to indemnify Exterran with respect to the Phipps lawsuit. In April 2014, the estate of the other deceased third-party contractor employee sued the Company, Eureka Hunter Pipeline and certain other parties in a case styled Antoinette M. Miller v. Magnum Hunter Resources Corporation et al, Civil Action No. 14-C-111, in the Circuit Court of Ohio County, West Virginia. The plaintiffs allege that Eureka Hunter Pipeline and the other defendants engaged in certain negligent and reckless conduct which resulted in the wrongful death of the third-party contractor employees. The plaintiffs have demanded judgment for an unspecified amount of compensatory, general and punitive damages. Various cross-claims have also been asserted. In May 2014, the injured third-party contractor employee sued Magnum Hunter Resources Corporation and certain other parties in a case styled Jonathan Whisenhunt v. Magnum Hunter Resources Corporation et al, Civil Action No. 14-C-135, in the Circuit Court of Ohio County, West Virginia. The claim filed by the injured third-party contractor employee, Jonathan Whisenhunt, has been resolved and dismissal of this case is anticipated in the near term. A portion of the settlement was paid by an insurer of Eureka Hunter Pipeline, and the remainder paid by the co-defendants or their insurers. The cross-claims among the defendants in the Whisenhunt litigation have not been resolved. In addition, the claim filed by Antoinette M. Miller has been successfully mediated and, subject to Court approval, is anticipated to be resolved and dismissed in the near term. Insurers providing coverage to Eureka Hunter Pipeline, Magnum Hunter Resources Corporation and other affiliated or related entities will pay a portion of the settlement, with the remainder to be paid by the co-defendants or their insurers. Investigation regarding the incident is ongoing. It is not possible to predict at this juncture the extent to which, if at all, Eureka Hunter Pipeline or any related entities will incur liability or damages related to the litigation remaining regarding this incident. However, the Company believes that its insurance coverage will be sufficient to cover any losses or liabilities it may incur as a result of this incident, subject to the retention amounts under the insurance policies. General We are also a defendant in several other lawsuits that have arisen in the ordinary course of business. While the outcome of these lawsuits cannot be predicted with certainty, management does not expect any of these to have a material adverse effect on our consolidated financial condition or results of operations.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	NOTE 15 - SUPPLEMENTAL CASH FLOW INFORMATION The following table summarizes cash paid (received) for interest and income taxes, as well as non-cash investing and financing transactions: Six Months Ended June 30, 2015 2014 (in thousands) Cash paid for interest $ 41,947 $ 35,679 Non-cash transactions Non-cash consideration received from sale of assets $ — $ 9,447 Change in accrued capital expenditures $ (75,585 ) $ 41,270 Non-cash additions to asset retirement obligation $ 516 $ 13 Eureka Hunter Holdings Series A Preferred Unit dividends paid in kind $ — $ 1,950

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 16 - SEGMENT REPORTING U.S. Upstream, Midstream, and Oilfield Services represent the operating segments of the Company. Effective September 30, 2013, the Canadian Upstream segment, comprised of the WHI Canada operations, was classified as discontinued operations. The Company sold 100% of the equity in WHI Canada in May 2014. The following tables set forth operating activities and capital expenditures by segment for the three and six months ended, and segment assets as of June 30, 2015 and 2014 , respectively. As of and for the Three Months Ended June 30, 2015 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated (1) Inter-segment Eliminations Total (in thousands) Total revenue $ 33,701 $ — $ 431 $ 6,878 $ — $ (1,484 ) $ 39,526 Depletion, depreciation, amortization and accretion 21,266 — — 999 — 48 22,313 Gain on sale of assets, net (26,744 ) — — — — — (26,744 ) Other operating expenses 27,329 — 197 4,848 8,610 (1,556 ) 39,428 Other expense (601 ) — — (142 ) (23,868 ) — (24,611 ) Income (loss) from continuing operations before income tax 11,249 — 234 889 (32,478 ) 24 (20,082 ) Total loss from discontinued operations, net of tax — — — — (1,594 ) — (1,594 ) Net income (loss) $ 11,249 $ — $ 234 $ 889 $ (34,072 ) $ 24 $ (21,676 ) Total assets $ 1,101,855 $ — $ 160 $ 45,566 $ 389,168 $ (2,485 ) $ 1,534,264 Total capital expenditures $ 13,104 $ — $ — $ 48 $ 410 $ — $ 13,562 As of and for the Three Months Ended June 30, 2014 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated Inter-segment Eliminations Total (in thousands) Total revenue $ 84,138 $ — $ 39,556 $ 7,795 $ — $ (1,841 ) $ 129,648 Depletion, depreciation, amortization and accretion 31,188 — — 838 — — 32,026 Gain on sale of assets, net (316 ) — — (371 ) — — (687 ) Other operating expenses 41,113 — 38,554 6,361 13,054 (5,587 ) 93,495 Other income (expense) 204 — — (211 ) (22,498 ) — (22,505 ) Income (loss) from continuing operations before income tax 12,357 — 1,002 756 (35,552 ) 3,746 (17,691 ) Total income (loss) from discontinued operations, net of tax (2,705 ) 11,461 (39,970 ) — (12,776 ) (3,746 ) (47,736 ) Net income (loss) $ 9,652 $ 11,461 $ (38,968 ) $ 756 $ (48,328 ) $ — $ (65,427 ) Total assets $ 1,485,120 $ — $ 380,108 $ 44,682 $ 61,180 $ (7,733 ) $ 1,963,357 Total capital expenditures $ 150,143 $ (3 ) $ 51,993 $ 2,257 $ 83 $ — $ 204,473 As of and for the Six Months Ended June 30, 2015 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated (1) Inter-segment Eliminations Total (in thousands) Total revenue $ 83,914 $ — $ 749 $ 13,552 $ — $ (3,293 ) $ 94,922 Depletion, depreciation, amortization and accretion 78,163 — — 2,005 — (105 ) 80,063 Gain on sale of assets, net (28,384 ) — — (12 ) — — (28,396 ) Other operating expenses 88,988 — 601 10,125 19,644 (3,144 ) 116,214 Other expense (8,814 ) — — (308 ) (43,641 ) — (52,763 ) Income (loss) from continuing operations before income tax (63,667 ) — 148 1,126 (63,285 ) (44 ) (125,722 ) Total loss from discontinued operations, net of tax — — — — (1,873 ) — (1,873 ) Net income (loss) $ (63,667 ) $ — $ 148 $ 1,126 $ (65,158 ) $ (44 ) $ (127,595 ) Total assets $ 1,101,855 $ — $ 160 $ 45,566 $ 389,168 $ (2,485 ) $ 1,534,264 Total capital expenditures $ 60,422 $ — $ — $ 469 $ 1,858 $ — $ 62,749 As of and for the Six Months Ended June 30, 2014 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated Inter-segment Eliminations Total (in thousands) Total revenue $ 160,350 $ — $ 65,593 $ 15,706 $ — $ (4,131 ) $ 237,518 Depletion, depreciation, amortization and accretion 56,128 — — 1,628 — — 57,756 Loss on sale of assets, net 3,757 — — (369 ) — — 3,388 Other operating expenses 109,978 — 65,443 13,074 23,542 (10,963 ) 201,074 Other expense (168 ) — — (420 ) (45,742 ) — (46,330 ) Income (loss) from continuing operations before income tax (9,681 ) — 150 953 (69,284 ) 6,832 (71,030 ) Total income (loss) from discontinued operations, net of tax (7,024 ) 10,636 (40,102 ) — (12,776 ) (6,832 ) (56,098 ) Net income (loss) $ (16,705 ) $ 10,636 $ (39,952 ) $ 953 $ (82,060 ) $ — $ (127,128 ) Total assets $ 1,485,120 $ — $ 380,108 $ 44,682 $ 61,180 $ (7,733 ) $ 1,963,357 Total capital expenditures $ 216,454 $ 305 $ 82,627 $ 2,947 $ 106 $ — $ 302,439 _________________________________ (1) Includes the Company's retained interest in Eureka Hunter Holdings which has a value of $345.3 million at June 30, 2015. As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" , in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented.

CONDENSED CONSOLIDATING GUARANT

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2015
Guarantees [Abstract]
CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS	NOTE 17 - CONDENSED CONSOLIDATED GUARANTOR FINANCIAL STATEMENTS Guarantor Subsidiaries Certain of the Company's subsidiaries, including Alpha Hunter Drilling, LLC, Bakken Hunter, LLC, Shale Hunter, LLC, Magnum Hunter Marketing, LLC, MHP, NGAS Hunter, LLC, Triad Hunter, Viking International Resources, Co., Inc., and Bakken Hunter Canada, Inc., (collectively, "Guarantor Subsidiaries"), jointly and severally guarantee on a senior unsecured basis, the obligations of the Company under all the Senior Notes issued under the indenture entered into by the Company on May 16, 2012, as supplemented. The Guarantor Subsidiaries may also guarantee any debt of the Company issued pursuant to the Form S-3 Registration Statement filed by the Company with the SEC on March 15, 2015, amended on April 20, 2015, and declared effective on April 22, 2015. Condensed consolidating financial information for Magnum Hunter Resources Corporation, the Guarantor Subsidiaries and the other subsidiaries of the Company (the "Non Guarantor Subsidiaries") as of June 30, 2015 and December 31, 2014 , and for the three and six months ended June 30, 2015 and 2014 , are as follows: Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Balance Sheets (in thousands) As of June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter ASSETS Current assets $ 12,886 $ 30,542 $ 377 $ (2,441 ) $ 41,364 Intercompany accounts receivable 1,136,540 — — (1,136,540 ) — Property and equipment (using successful efforts method of accounting) 6,653 1,118,792 — (44 ) 1,125,401 Investment in subsidiaries (146,125 ) 92,314 — 53,811 — Assets of discontinued operations and other 366,578 921 — — 367,499 Total Assets $ 1,376,532 $ 1,242,569 $ 377 $ (1,085,214 ) $ 1,534,264 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities $ 25,755 $ 119,623 $ 9 $ (2,443 ) $ 142,944 Intercompany accounts payable — 1,097,221 41,555 (1,138,776 ) — Long-term liabilities 929,551 40,543 — — 970,094 Redeemable preferred stock 100,000 — — — 100,000 Shareholders' equity (deficit) 321,226 (14,818 ) (41,187 ) 56,005 321,226 Total Liabilities and Shareholders' Equity $ 1,376,532 $ 1,242,569 $ 377 $ (1,085,214 ) $ 1,534,264 Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Balance Sheets (in thousands) As of December 31, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter ASSETS Current assets $ 85,647 $ 41,533 $ 589 $ (2,378 ) $ 125,391 Intercompany accounts receivable 1,113,417 — — (1,113,417 ) — Property and equipment (using successful efforts method of accounting) 5,506 1,170,122 30 — 1,175,658 Investment in subsidiaries (91,595 ) 94,134 — (2,539 ) — Assets of discontinued operations and other 369,995 3,980 — — 373,975 Total Assets $ 1,482,970 $ 1,309,769 $ 619 $ (1,118,334 ) $ 1,675,024 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities $ 25,347 $ 148,109 $ 2,567 $ (2,383 ) $ 173,640 Intercompany accounts payable — 1,073,091 42,560 (1,115,651 ) — Long-term liabilities 925,767 43,762 — — 969,529 Redeemable preferred stock 100,000 — — — 100,000 Shareholders' equity (deficit) 431,856 44,807 (44,508 ) (300 ) 431,855 Total Liabilities and Shareholders' Equity $ 1,482,970 $ 1,309,769 $ 619 $ (1,118,334 ) $ 1,675,024 Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Operations (in thousands) Three Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 12 $ 41,214 $ 233 $ (1,933 ) $ 39,526 Expenses 31,922 29,601 42 (1,957 ) 59,608 Income (loss) from continuing operations before equity in net income of subsidiaries (31,910 ) 11,613 191 24 (20,082 ) Equity in net income of subsidiaries 11,828 (144 ) — (11,684 ) — Income (loss) from continuing operations (20,082 ) 11,469 191 (11,660 ) (20,082 ) Gain on dilution of interest in Eureka Hunter Holdings — — — — — Loss from discontinued operations, net of tax (1,594 ) — — — (1,594 ) Net income (loss) (21,676 ) 11,469 191 (11,660 ) (21,676 ) Dividends on preferred stock (8,847 ) — — — (8,847 ) Net income (loss) attributable to common shareholders $ (30,523 ) $ 11,469 $ 191 $ (11,660 ) $ (30,523 ) Three Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 6 $ 131,208 $ 274 $ (1,840 ) $ 129,648 Expenses 36,512 116,053 362 (5,588 ) 147,339 Income (loss) from continuing operations before equity in net income of subsidiaries (36,506 ) 15,155 (88 ) 3,748 (17,691 ) Equity in net income of wholly-owned subsidiaries (19,314 ) (984 ) — 20,298 — Income (loss) from continuing operations (55,820 ) 14,171 (88 ) 24,046 (17,691 ) Loss from discontinued operations, net of tax — — (38,778 ) (3,746 ) (42,524 ) Gain (loss) on sale of discontinued operations, net of tax (15,480 ) — 10,268 — (5,212 ) Net income (loss) (71,300 ) 14,171 (28,598 ) 20,300 (65,427 ) Net income attributable to non-controlling interest — — — 780 780 Net income (loss) attributable to Magnum Hunter Resources Corporation (71,300 ) 14,171 (28,598 ) 21,080 (64,647 ) Dividends on preferred stock (8,848 ) — — — (8,848 ) Dividends on preferred stock of discontinued operations — — (6,482 ) — (6,482 ) Net income (loss) attributable to common shareholders $ (80,148 ) $ 14,171 $ (35,080 ) $ 21,080 $ (79,977 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Operations (in thousands) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 13 $ 98,210 $ 761 $ (4,062 ) $ 94,922 Expenses 63,208 161,050 404 (4,018 ) 220,644 Income (loss) from continuing operations before equity in net income of subsidiaries (63,195 ) (62,840 ) 357 (44 ) (125,722 ) Equity in net income of subsidiaries (62,527 ) (1,820 ) — 64,347 — Income (loss) from continuing operations (125,722 ) (64,660 ) 357 64,303 (125,722 ) Gain on dilution of interest in Eureka Hunter Holdings 2,390 — — — 2,390 Income from discontinued operations, net of tax (4,263 ) — — — (4,263 ) Net income (loss) (127,595 ) (64,660 ) 357 64,303 (127,595 ) Dividends on preferred stock (17,695 ) — — — (17,695 ) Net income (loss) attributable to common shareholders $ (145,290 ) $ (64,660 ) $ 357 $ 64,303 $ (145,290 ) Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 114 $ 241,089 $ 445 $ (4,130 ) $ 237,518 Expenses 71,305 247,770 437 (10,964 ) 308,548 Income (loss) from continuing operations before equity in net income of subsidiaries (71,191 ) (6,681 ) 8 6,834 (71,030 ) Equity in net income of wholly-owned subsidiaries (48,129 ) (829 ) — 48,958 — Income (loss) from continuing operations (119,320 ) (7,510 ) 8 55,792 (71,030 ) Loss from discontinued operations, net of tax — — (35,541 ) (6,832 ) (42,373 ) Gain (loss) on sale of discontinued operations, net of tax (19,799 ) — 6,074 — (13,725 ) Net income (loss) (139,119 ) (7,510 ) (29,459 ) 48,960 (127,128 ) Net income attributable to non-controlling interest — — — 889 889 Net income (loss) attributable to Magnum Hunter Resources Corporation (139,119 ) (7,510 ) (29,459 ) 49,849 (126,239 ) Dividends on preferred stock (17,668 ) — — — (17,668 ) Dividends on preferred stock of discontinued operations — — (12,558 ) — (12,558 ) Net income (loss) attributable to common shareholders $ (156,787 ) $ (7,510 ) $ (42,017 ) $ 49,849 $ (156,465 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Three Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (21,676 ) $ 11,469 $ 191 $ (11,660 ) $ (21,676 ) Foreign currency translation loss — (13 ) — — (13 ) Unrealized gain on available for sale securities — 309 — — 309 Amounts reclassified for other than temporary impairment of available for sale securities — — — — — Comprehensive income (loss) (21,676 ) 11,765 191 (11,660 ) (21,380 ) Three Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (71,300 ) $ 14,171 $ (28,598 ) $ 20,300 $ (65,427 ) Foreign currency translation gain — — 1,130 — 1,130 Unrealized loss on available for sale securities — (549 ) — — (549 ) Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc. 20,741 — — — 20,741 Comprehensive income (loss) (50,559 ) 13,622 (27,468 ) 20,300 (44,105 ) Comprehensive income attributable to non-controlling interest — — — 780 780 Comprehensive income (loss) attributable to Magnum Hunter Resources Corporation $ (50,559 ) $ 13,622 $ (27,468 ) $ 21,080 $ (43,325 ) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (127,595 ) $ (64,660 ) $ 357 $ 64,303 $ (127,595 ) Foreign currency translation gain — 102 — 102 Unrealized loss on available for sale securities — (1,099 ) — — (1,099 ) Amounts reclassified for other than temporary impairment of available for sale securities — 8,992 — — 8,992 Comprehensive income (loss) (127,595 ) (56,665 ) 357 64,303 (119,600 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (139,119 ) $ (7,510 ) $ (29,459 ) $ 48,960 $ (127,128 ) Foreign currency translation loss — — (1,218 ) — (1,218 ) Unrealized loss on available for sale securities — (605 ) — — (605 ) Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc. 20,741 — — — 20,741 Comprehensive income (loss) (118,378 ) (8,115 ) (30,677 ) 48,960 (108,210 ) Comprehensive income attributable to non-controlling interest — — — 889 889 Comprehensive income (loss) attributable to Magnum Hunter Resources Corporation $ (118,378 ) $ (8,115 ) $ (30,677 ) $ 49,849 $ (107,321 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows (in thousands) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Cash flows from operating activities $ (57,824 ) $ 109,933 $ — $ (149 ) $ 51,960 Cash flows from investing activities (1,283 ) (98,570 ) — 149 (99,704 ) Cash flows from financing activities 5,898 (2,540 ) — — 3,358 Effect of exchange rate changes on cash — 24 — — 24 Net increase (decrease) in cash (53,209 ) 8,847 — — (44,362 ) Cash at beginning of period 64,165 (10,985 ) — — 53,180 Cash at end of period $ 10,956 $ (2,138 ) $ — $ — $ 8,818 Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Cash flows from operating activities $ (192,121 ) $ 182,620 $ 28,248 $ — $ 18,747 Cash flows from investing activities 49,572 (177,365 ) (57,579 ) — (185,372 ) Cash flows from financing activities 111,324 3,038 19,629 — 133,991 Effect of exchange rate changes on cash — — 41 — 41 Net increase (decrease) in cash (31,225 ) 8,293 (9,661 ) — (32,593 ) Cash at beginning of period 47,895 (17,651 ) 11,469 — 41,713 Cash at end of period $ 16,670 $ (9,358 ) $ 1,808 $ — $ 9,120

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 18 - SUBSEQUENT EVENTS Amendment and Waiver to Credit Agreement On July 10, 2015, the Company entered into the Fifth Amendment, as described in "Note 8 - Debt" . Letter Agreement with Eureka Hunter Holdings and MSI On July 27, 2015, the Company entered into the July 2015 Letter Agreement with Eureka Hunter Holdings and MSI, as described in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . Derivative Contracts During July and August 2015, as required under the terms of the Fifth Amendment, the Company entered into certain derivative transactions to protect its operating revenues and cash flows related to a portion of its future oil and natural gas sales from the risk of significant declines in commodity prices. The Company entered into costless collars for 80,000 MMbtu per day for the period from August 2015 to December 2015 with an average floor price of $2.66 /MMBtu and an average ceiling price of $3.15 /MMBtu and for 1,500 Bbl per day for the period from September 2015 through December 2015 with a floor price of $45.00 /Bbl and a ceiling price of $48.00 /Bbl. The Company also entered into a fixed price swap for the month of August 2015 for 1,500 Bbl per day at $44.65 /Bbl. The Company has not designated any of its commodity derivative instruments as hedges. Sales of Common Stock As of August 7, 2015, the Company has sold an additional 7,720,495 shares of its common stock for proceeds of $9.3 million , net of sales commissions of $0.2 million , through its ATM offering under the Form S-3 Registration Statement subsequent to June 30, 2015.

GENERAL (Policies)

GENERAL (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Presentation of Consolidated Financial Statements	Presentation of Consolidated Financial Statements The accompanying unaudited interim consolidated financial statements of Magnum Hunter have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of these consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ materially from those estimates. In the opinion of management, all adjustments (consisting of normal recurring adjustments unless otherwise indicated) necessary for the fair statement of the financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. The year-end balance sheet data were derived from audited financial statements, but do not include all disclosures required by GAAP. Certain information and disclosures normally included in the consolidated financial statements prepared in accordance with GAAP that would substantially duplicate the disclosures contained in the audited consolidated financial statements as reported in the Company's Annual Report on Form 10-K have been condensed or omitted.
Reclassification of Prior-Year Balances	Reclassification of Prior-Period Balances Certain prior period balances have been reclassified to correspond with current-period presentation. As a result of the Company's adoption of a plan in June 2015 to dispose of its equity investment in Eureka Hunter Holdings, operating losses and expenses related to these operations have been classified as discontinued operations and the equity investment has been reclassified to assets of discontinued operations in our consolidated balance sheets for all periods presented. See "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . As a result of the Company's decision in September 2014 to withdraw its plan to divest MHP and cease all marketing efforts, the results of operations of MHP, which had previously been reported as a component of discontinued operations, have been reclassified to continuing operations for all periods presented, and all assets and liabilities of MHP that were previously reported as assets and liabilities held for sale in our consolidated balance sheet have been reclassified to assets and liabilities held for use effective September 2014. See "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" . The Company has separately classified transportation and processing expenses incurred to deliver gas to processing plants and/or to selling points, which were previously included as components of lease operating expenses and severance taxes and marketing, in the accompanying consolidated statements of operations for all periods presented. The Company has also renamed lease operating expenses as "Production costs" and presented transportation and processing expenses as "Transportation, processing, and other related costs" in order to provide more meaningful information on costs associated with production and development. The Company has reclassified approximately $5.2 million of oil and gas transportation, processing and production taxes payables from accounts receivable - oil and natural gas sales to accounts payable as of December 31, 2014.
Non-Controlling Interest in Consolidated Subsidiaries	Non-Controlling Interest in Consolidated Subsidiaries Prior to July 24, 2014, the Company owned 87.5% of the equity interests in PRC Williston, LLC ("PRC Williston"), which sold substantially all of its assets on December 30, 2013. On July 24, 2014, the Company executed a settlement and release agreement with Drawbridge Special Opportunities Fund LP and Fortress Value Recovery Fund I LLC f/k/a D.B. Zwirn Special Opportunities Fund, L.P. As a result of this settlement agreement, the Company owns 100% of the equity interests in PRC Williston and has all rights and claims to its remaining assets and liabilities, which are not significant.
Regulated Activities	Regulated Activities Sentra Corporation, a wholly-owned subsidiary, owns and operates distribution systems for retail sales of natural gas in south central Kentucky. Sentra Corporation's gas distribution billing rates are regulated by the Kentucky Public Service Commission based on recovery of purchased gas costs. The Company accounts for its operations based on the provisions of the FASB Accounting Standards Codification ("ASC") Subtopic 980-605, Regulated Operations-Revenue Recognition , which requires covered entities to record regulatory assets and liabilities resulting from actions of regulators.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Accounting standards-setting organizations frequently issue new or revised accounting rules. The Company regularly reviews all new pronouncements to determine their impact, if any, on its financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition , and most industry-specific guidance throughout the Industry Topics of the ASC. The core principle of the revised standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 requires entities to disclose both quantitative and qualitative information that enables users of financial statements to understand the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers. This amendment is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. The guidance allows for either a "full retrospective" adoption or a "modified retrospective" adoption, however early application is not permitted. In July 2015, the FASB voted to approve a one-year deferral of the effective date of ASU 2014-09. The Company is currently evaluating the adoption methods and the impact of this ASU on its consolidated financial statements and financial statement disclosures. In April 2015, the FASB issued ASU 2015-03, Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs . This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. This amendment is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. As of June 30, 2015 , the Company had $21.3 million of debt issuance costs, which under this standard would be reclassified from an asset to a direct deduction from the related debt liability. In April 2015, the FASB issued ASU 2015-04, Intangibles - Goodwill and Other - Internal-Use Software: Customer's Accounting for Fees Paid in a Cloud Computing Agreement . This update provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This update does not change GAAP for a customer's accounting for service contracts. This amendment is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted for all entities, either prospectively to all arrangements entered into or materially modified after the effective date, or retrospectively. The Company has several cloud computing arrangements and is currently evaluating the impact of this ASU on its consolidated financial statements and financial statement disclosures.

ACQUISITIONS, DIVESTITURES, A27

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Deconsolidation of subsidiary, allocation of basis difference [Table Text Block]	The Company recognized a basis difference of $201.8 million upon deconsolidation related to its investment in Eureka Hunter Holdings which has been allocated to the following identifiable assets of Eureka Hunter Holdings: Identifiable Assets Ending Basis December 31, 2014 Basis Amortization Basis Reduction Ending Basis June 30, 2015 (in thousands) Fixed assets $ 5,088 $ (128 ) $ (98 ) $ 4,862 Intangible assets 155,189 (3,750 ) (2,705 ) 148,734 Goodwill 41,597 — (1,104 ) 40,493 Total basis difference $ 201,874 $ (3,878 ) $ (3,907 ) $ 194,089
Deconsolidation of subsidiary, results of operations and stockholders equity	Summarized income information for Eureka Hunter Holdings for the three and six months ended June 30, 2015 is as follows: Three Months Ended Six Months Ended (in thousands) Operating revenues $ 17,409 $ 31,124 Operating income (loss) $ 1,790 $ 1,318 Net income (loss) $ 736 $ (846 ) Magnum Hunter's interest in Eureka Hunter Holdings net income (loss) $ 384 $ (385 ) Basis difference amortization $ (1,978 ) $ (3,878 ) Magnum Hunter's equity in earnings, net $ (1,594 ) $ (4,263 )
Schedule of discontinued operations	The following presents the results of our discontinued operations for the three and six months ended June 30, 2014 and June 30, 2015 . Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Revenues $ — $ 11,103 $ — $ 22,960 Depreciation, depletion, amortization and accretion — (3,929 ) — (7,607 ) Other operating expenses — (9,238 ) — (17,302 ) Interest expense — (605 ) — (6,487 ) Loss on derivative contracts, net — (39,830 ) — (33,894 ) Loss from equity method investments (1,594 ) — (4,263 ) — Other expense — (25 ) — (43 ) Loss from discontinued operations, net of tax (1,594 ) (42,524 ) (4,263 ) (42,373 ) Gain on dilution of interest in Eureka Hunter Holdings, net of tax — — 2,390 — Loss on disposal of discontinued operations, net of taxes of $0 — (5,212 ) — (13,725 ) Loss from discontinued operations, net of taxes $ (1,594 ) $ (47,736 ) $ (1,873 ) $ (56,098 )

OIL & NATURAL GAS SALES (Tables

OIL & NATURAL GAS SALES (Tables)	6 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
Schedule of Oil Natural Gas And NGL Revenue	During the three and six months ended June 30, 2015 and 2014 , the Company recognized sales from oil, natural gas, and natural gas liquids ("NGLs") as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Oil $ 15,087 $ 41,506 $ 24,631 $ 76,859 Natural gas 13,023 28,264 44,883 55,784 NGLs 5,308 14,002 13,295 27,094 Total oil and natural gas sales $ 33,418 $ 83,772 $ 82,809 $ 159,737

PROPERTY, PLANT, & EQUIPMENT (T

PROPERTY, PLANT, & EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Schedule of the Company's geological and geophysical costs and leasehold abandonments expense	During the three and six months ended June 30, 2015 and 2014 , the Company recognized exploration expense as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Leasehold impairments $ 931 $ 8,833 $ 8,769 $ 24,383 Geological and geophysical 548 353 1,200 727 Total exploration expense $ 1,479 $ 9,186 $ 9,969 $ 25,110
Proved Oil and Natural Gas Properties
Property, Plant and Equipment [Line Items]
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure	The following sets forth the net capitalized costs under the successful efforts method for oil and natural gas properties as of: June 30, December 31, (in thousands) Mineral interests in properties: Unproved leasehold costs $ 444,692 $ 481,643 Proved leasehold costs 284,185 257,185 Wells and related equipment and facilities 642,420 606,406 Advances to operators for wells in progress 1,283 1,411 Total costs 1,372,580 1,346,645 Less accumulated depletion, depreciation, and amortization (323,210 ) (248,410 ) Net capitalized costs $ 1,049,370 $ 1,098,235
Gas transportation, gathering and processing equipment and other
Property, Plant and Equipment [Line Items]
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure	The historical cost of gas transportation, gathering, and processing equipment and other property, presented on a gross basis with accumulated depreciation, as of June 30, 2015 and December 31, 2014 is summarized as follows: June 30, December 31, (in thousands) Gas transportation, gathering and processing equipment and other $ 102,817 $ 100,436 Less accumulated depreciation (26,786 ) (23,013 ) Net capitalized costs $ 76,031 $ 77,423

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Summary of asset retirement obligation	The following table summarizes the Company's asset retirement obligation ("ARO") activities during the six -month period ended June 30, 2015 and for the year ended December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) Asset retirement obligations at beginning of period $ 26,524 $ 16,216 Assumed in acquisitions 92 — Liabilities incurred 2 218 Liabilities settled (55 ) (107 ) Liabilities sold (74 ) (2,598 ) Accretion expense 1,281 1,478 Revisions in estimated liabilities (1) (859 ) 3,208 Reclassified from liabilities associated with assets of MHP — 8,109 Asset retirement obligation at end of period 26,911 26,524 Less: current portion (included in other liabilities) (967 ) (295 ) Asset retirement obligations at end of period $ 25,944 $ 26,229 ________________________________ (1) Revisions in estimated liabilities during 2014 relate to a change in assumptions used with respect to certain wells in the Appalachian Basin in Ohio and West Virginia.

FAIR VALUE OF FINANCIAL INSTR31

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of inputs used to calculated fair value of convertible security embedded derivative	The key inputs used in the Black-Scholes option pricing model were as follows: June 30, 2015 Life (in years) 1.6 Risk-free interest rate 0.75% Estimated volatility 84% Dividend — GreenHunter stock price at end of period $0.67
Schedule of reconciliation of derivative assets and (liabilities) measured at fair value using significant unobservable inputs	The following table presents the changes in fair value of the derivative assets and liabilities measured at fair value using significant unobservable inputs (Level 3 inputs) for the six -month period ended June 30, 2015 : Convertible Security Embedded Derivative Asset (in thousands) Fair value as of December 31, 2014 $ 75 Decrease in fair value recognized in gain (loss) on derivative contracts, net (48 ) Fair value as of June 30, 2015 $ 27
Fair value measurements on a recurring basis	The following tables present the fair value hierarchy levels of the Company's financial assets and liabilities which are measured and carried at fair value on a recurring basis: Fair Value Measurements on a Recurring Basis June 30, 2015 (in thousands) Assets Level 1 Level 2 Level 3 Available for sale securities $ 2,447 $ — $ — Convertible security derivative assets — — 27 Total assets at fair value $ 2,447 $ — $ 27 Liabilities Commodity derivative liabilities $ — $ 490 $ — Total liabilities at fair value $ — $ 490 $ — Fair Value Measurements on a Recurring Basis December 31, 2014 (in thousands) Assets Level 1 Level 2 Level 3 Available for sale securities $ 3,864 $ — $ — Commodity derivative assets — 16,511 — Convertible security derivative assets — — 75 Total assets at fair value $ 3,864 $ 16,511 $ 75
Carrying amounts and fair values of long-term debt	The following table presents the carrying amounts and fair values categorized by fair value hierarchy level of the Company's financial instruments not carried at fair value: June 30, 2015 December 31, 2014 Fair Value Hierarchy Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value (in thousands) Senior Notes Level 2 $ 597,459 $ 540,000 $ 597,355 $ 498,000 MHR Senior Revolving Credit Facility Level 3 $ 5,000 $ 5,000 $ — $ — MHR Second Lien Term Loan Level 3 $ 328,002 $ 319,769 $ 329,140 $ 329,140 Equipment Notes Payable Level 3 $ 18,078 $ 18,041 $ 22,238 $ 22,150

INVESTMENTS AND DERIVATIVES (Ta

INVESTMENTS AND DERIVATIVES (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of changes in investments	Below is a summary of changes in investments for the six months ended June 30, 2015 : Available for Sale Securities (in thousands) Carrying value as of December 31, 2014 $ 3,864 Loss from equity method investment (1) (318 ) Change in fair value recognized in other comprehensive loss (1,099 ) Carrying value as of June 30, 2015 $ 2,447 (1) As a result of the carrying value of the Company's investment in common stock of GreenHunter being reduced to zero from equity method losses, the Company is required to allocate any additional losses to its investment in the Series C preferred stock of GreenHunter. The Company recorded additional equity method loss against the carrying value of its investment in the Series C preferred stock of GreenHunter before recording any mark-to-market adjustments.
Summary of cost for equity securities and fair value	The cost for equity securities and their respective fair values as of June 30, 2015 and December 31, 2014 are as follows: June 30, 2015 (in thousands) Cost Gross Unrealized Losses Fair Value Securities available for sale, carried at fair value: Equity securities $ 883 $ (174 ) $ 709 Equity securities - related party (see "Note 13 - Related Party Transactions") 2,200 (462 ) 1,738 Total Securities available for sale $ 3,083 $ (636 ) $ 2,447 December 31, 2014 (in thousands) Cost Gross Unrealized Losses Fair Value Securities available for sale, carried at fair value: Equity securities $ 9,876 $ (7,323 ) $ 2,553 Equity securities - related party (see "Note 13 - Related Party Transactions") 2,200 (889 ) 1,311 Total Securities available for sale $ 12,076 $ (8,212 ) $ 3,864
Estimated fair values of commodity derivatives	As of June 30, 2015 , the Company had the following commodity derivative instruments: Crude Oil Period Bbl/day Price per Bbl Ceilings sold (call) Jan 2015 - Dec 2015 1,570 $120.00 Floors sold (put) Jan 2015 - Dec 2015 259 $70.00
Schedule of fair value of commodity derivative contracts	The following table summarizes the fair value of the Company's commodity and financial derivative contracts as of the dates indicated: Derivatives not designated as hedging instruments Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, (in thousands) Commodity Derivative assets $ — $ 16,511 $ — $ — Derivative liabilities — — 490 — Total commodity $ — $ 16,511 $ 490 $ — Financial Derivative assets $ 27 $ 75 $ — $ — Total financial $ 27 $ 75 $ — $ — Total derivatives $ 27 $ 16,586 $ 490 $ —
Schedule of commodity derivatives and master netting arrangements	The tables below summarize the Company's commodity derivatives and the effect of master netting arrangements on the presentation of those derivatives in the Company's consolidated balance sheets as of: June 30, 2015 Gross Amounts of Recognized Assets and Liabilities Gross Amounts Offset on the Consolidated Balance Sheet Net Amount (in thousands) Current liabilities: Fair value of derivative contracts (490 ) — (490 ) $ (490 ) $ — $ (490 ) December 31, 2014 Gross Amounts of Assets and Liabilities Gross Amounts Offset on the Consolidated Balance Sheet Net Amount (in thousands) Current assets: Fair value of derivative contracts $ 18,146 $ (1,635 ) $ 16,511 Current liabilities: Fair value of derivative contracts (1,635 ) 1,635 — $ 16,511 $ — $ 16,511
Schedule of the realized and unrealized gain (loss) on derivatives	The following table summarizes the net gain (loss) on all derivative contracts included in gain (loss) on derivative contracts, net on the consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended 2015 2014 2015 2014 (in thousands) Gain (loss) on settled transactions $ (1,117 ) $ (2,267 ) $ 3,194 $ (4,551 ) Gain (loss) on open contracts 792 (739 ) (417 ) (4,044 ) Total gain (loss), net $ (325 ) $ (3,006 ) $ 2,777 $ (8,595 )

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt at June 30, 2015 and December 31, 2014 consisted of the following: June 30, December 31, (in thousands) Senior Notes payable due May 15, 2020, interest rate of 9.75%, net of unamortized net discount of $2.5 million and $2.6 million at June 30, 2015 and December 31, 2014, respectively $ 597,459 $ 597,355 Various equipment and real estate notes payable with maturity dates February 2015 - November 2017, interest rates of 4.25% - 7.94% 18,078 22,238 MHR Senior Revolving Credit Facility due October 22, 2018, interest rate of 4.19% at June 30, 2015 and 2.92% at December 31, 2014 5,000 — MHR second lien term loan due October 22, 2019, interest rate of 8.5%, net of unamortized discount of $9.4 million and $10.0 million at June 30, 2015 and December 31, 2014, respectively 328,002 329,140 948,539 948,733 Less: current portion (9,854 ) (10,770 ) Total long-term debt obligations, net of current portion $ 938,685 $ 937,963
Schedule of expected approximate annual maturities of debt	The following table presents the scheduled or expected approximate annual maturities of debt, gross of unamortized discount of $12.0 million as of June 30, 2015 : (in thousands) 2015 $ 4,912 2016 12,127 2017 5,948 2018 8,958 2019 325,757 Thereafter 602,826 Total $ 960,528
Schedule of Interest Expense	The following table sets forth interest expense for the three and six month periods ended June 30, 2015 and 2014 , respectively: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) Interest expense incurred on debt, net of amounts capitalized $ 23,262 $ 15,937 $ 45,920 $ 33,084 Amortization and write-off of deferred financing costs 840 3,939 1,647 4,807 Total interest expense $ 24,102 $ 19,876 $ 47,567 $ 37,891

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of common stock option and stock appreciation rights	A summary of common stock option activity for the six months ended June 30, 2015 and 2014 is presented below: Six Months Ended June 30, 2015 2014 2015 2014 (in thousands of shares) Weighted Average Exercise Price per Share Outstanding at beginning of period 13,195 16,891 $ 5.92 $ 5.69 Granted — — $ — $ — Exercised — (2,115 ) $ — $ 4.14 Forfeited (2,448 ) (932 ) $ 6.43 $ 6.32 Outstanding at end of period 10,747 13,844 $ 5.81 $ 5.88 Exercisable at end of period 8,433 9,478 $ 5.91 $ 6.20
Summary of non-vested shares	A summary of the Company's non-vested common stock options and stock appreciation rights for the six months ended June 30, 2015 and 2014 is presented below: Six Months Ended June 30, 2015 2014 (in thousands of shares) Non-vested at beginning of period 4,055 6,908 Granted — — Vested (1,356 ) (1,801 ) Forfeited (385 ) (741 ) Non-vested at end of period 2,314 4,366

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of dividends paid	A summary of the Company's preferred dividends for the three and six months ended June 30, 2015 and 2014 is presented below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Dividend on Series C Preferred Stock $ 2,562 $ 2,562 $ 5,124 $ 5,124 Dividend on Series D Preferred Stock 4,425 4,425 8,849 8,849 Dividend on Series E Preferred Stock 1,860 1,861 3,722 3,695 Total dividends on Preferred Stock $ 8,847 $ 8,848 $ 17,695 $ 17,668 Dividend on Eureka Hunter Holdings Series A Preferred Units $ — $ 4,253 $ — $ 8,281 Accretion of the carrying value of the Eureka Hunter Holdings Series A Preferred Units — 2,229 — 4,277 Total dividends on Preferred Stock of discontinued operations $ — $ 6,482 $ — $ 12,558
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	he following table summarizes the types of potentially dilutive securities outstanding as of June 30, 2015 and 2014 : June 30, 2015 2014 (in thousands of shares) Series E Preferred Stock 10,946 10,946 Warrants 19,173 19,214 Unvested restricted shares 2,242 1,475 Common stock options and stock appreciation rights 10,747 13,844 Total 43,108 45,479

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Balances	The following table sets forth the related party balances as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) GreenHunter (1) Accounts payable - net $ (809 ) $ (224 ) Derivative assets (2) $ 27 $ 75 Investments (2) $ 1,738 $ 1,311 Notes receivable (2) $ 952 $ 1,224 Prepaid expenses $ — $ 1,000 Eureka Hunter Holdings (3) Accounts receivable (payable) - net $ (5,053 ) $ 122 Assets of discontinued operations $ 345,318 $ 347,191 Pilatus Hunter Accounts receivable - net $ 12 $ 12 Classic Petroleum, Inc. (5) Accounts payable $ (304 ) $ —
Schedule of Related Party Transactions	The following table sets forth the related party transaction activities for the three and six months ended June 30, 2015 and 2014 , respectively: Three Months Ended Six Months Ended 2015 2014 2015 2014 (in thousands) GreenHunter Production costs (1) $ 1,288 $ 632 $ 2,199 $ 1,076 Midstream natural gas gathering, processing, and marketing $ — $ 400 $ — $ 400 Oilfield services (1) $ 71 $ — $ 104 $ — General and administrative (1) $ 6 $ 13 $ 12 $ 36 Interest income (2) $ 39 $ 38 $ 70 $ 83 Miscellaneous income (2) $ 55 $ 55 $ 110 $ 110 Loss from equity method investment (2) $ 87 $ 135 $ 318 $ 357 Capitalized costs incurred (1) $ 19 $ 1,192 $ 465 $ 1,810 Pilatus Hunter, LLC (4) General and administrative $ 25 $ 88 $ 36 $ 158 Eureka Hunter Holdings (3) Production costs $ 478 $ — $ 596 $ — Transportation, processing, and other related costs $ 4,973 $ — $ 10,714 $ — Oilfield Services $ 13 $ — $ 16 $ — Capitalized costs incurred $ — $ — $ 121 $ — Classic Petroleum (5) Capitalized costs incurred $ 23 $ 212 $ 185 $ 524 _________________________________ (1) GreenHunter is an entity of which Gary C. Evans, the Company's Chairman and CEO, is the Chairman and a major shareholder. Triad Hunter and Viking International Resources Co., Inc., wholly-owned subsidiaries of the Company, receive services related to brine water and rental equipment from GreenHunter and certain affiliated companies. The Company believes that such services were and are provided at competitive market rates and were and are comparable to, or more attractive than, rates that could be obtained from unaffiliated third party suppliers of such services. (2) On February 17, 2012, the Company sold its wholly-owned subsidiary, Hunter Disposal, to GreenHunter Water, LLC ("GreenHunter Water"), a wholly-owned subsidiary of GreenHunter. The Company recognized an embedded derivative asset resulting from the conversion option under the convertible promissory note it received as partial consideration for the sale. See "Note 6 - Fair Value of Financial Instruments" for additional information. The Company has recorded interest income as a result of the note receivable from GreenHunter. Also as a result of this transaction, the Company has an equity method investment in GreenHunter that is included in derivatives and investment in affiliates - equity method and an available for sale investment in GreenHunter included in investments. (3) Following a series of transactions up to and including, December 18, 2014, the Company no longer held a controlling financial interest in Eureka Hunter Holdings. The Company deconsolidated Eureka Hunter Holdings and accounts for its retained interest as of December 31, 2014 under the equity method of accounting. See "Note 7 - Investments and Derivatives" . As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations" , in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented. (4) The Company rented an airplane for business use for certain members of Company management at various times from Pilatus Hunter, LLC, an entity 100% owned by Mr. Evans. Airplane rental expenses are recorded in general and administrative expense. (5) Classic Petroleum, Inc. is an entity owned by the brother of James W. Denny, III, the Company's Executive Vice President and President of the Company's Appalachian Division. Triad Hunter received land brokerage services from Classic Petroleum, Inc., including courthouse abstracting, contract negotiations, GIS mapping and leasing services.

SUPPLEMENTAL CASH FLOW INFORM37

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The following table summarizes cash paid (received) for interest and income taxes, as well as non-cash investing and financing transactions: Six Months Ended June 30, 2015 2014 (in thousands) Cash paid for interest $ 41,947 $ 35,679 Non-cash transactions Non-cash consideration received from sale of assets $ — $ 9,447 Change in accrued capital expenditures $ (75,585 ) $ 41,270 Non-cash additions to asset retirement obligation $ 516 $ 13 Eureka Hunter Holdings Series A Preferred Unit dividends paid in kind $ — $ 1,950

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Details of operating activities by segment	The following tables set forth operating activities and capital expenditures by segment for the three and six months ended, and segment assets as of June 30, 2015 and 2014 , respectively. As of and for the Three Months Ended June 30, 2015 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated (1) Inter-segment Eliminations Total (in thousands) Total revenue $ 33,701 $ — $ 431 $ 6,878 $ — $ (1,484 ) $ 39,526 Depletion, depreciation, amortization and accretion 21,266 — — 999 — 48 22,313 Gain on sale of assets, net (26,744 ) — — — — — (26,744 ) Other operating expenses 27,329 — 197 4,848 8,610 (1,556 ) 39,428 Other expense (601 ) — — (142 ) (23,868 ) — (24,611 ) Income (loss) from continuing operations before income tax 11,249 — 234 889 (32,478 ) 24 (20,082 ) Total loss from discontinued operations, net of tax — — — — (1,594 ) — (1,594 ) Net income (loss) $ 11,249 $ — $ 234 $ 889 $ (34,072 ) $ 24 $ (21,676 ) Total assets $ 1,101,855 $ — $ 160 $ 45,566 $ 389,168 $ (2,485 ) $ 1,534,264 Total capital expenditures $ 13,104 $ — $ — $ 48 $ 410 $ — $ 13,562 As of and for the Three Months Ended June 30, 2014 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated Inter-segment Eliminations Total (in thousands) Total revenue $ 84,138 $ — $ 39,556 $ 7,795 $ — $ (1,841 ) $ 129,648 Depletion, depreciation, amortization and accretion 31,188 — — 838 — — 32,026 Gain on sale of assets, net (316 ) — — (371 ) — — (687 ) Other operating expenses 41,113 — 38,554 6,361 13,054 (5,587 ) 93,495 Other income (expense) 204 — — (211 ) (22,498 ) — (22,505 ) Income (loss) from continuing operations before income tax 12,357 — 1,002 756 (35,552 ) 3,746 (17,691 ) Total income (loss) from discontinued operations, net of tax (2,705 ) 11,461 (39,970 ) — (12,776 ) (3,746 ) (47,736 ) Net income (loss) $ 9,652 $ 11,461 $ (38,968 ) $ 756 $ (48,328 ) $ — $ (65,427 ) Total assets $ 1,485,120 $ — $ 380,108 $ 44,682 $ 61,180 $ (7,733 ) $ 1,963,357 Total capital expenditures $ 150,143 $ (3 ) $ 51,993 $ 2,257 $ 83 $ — $ 204,473 As of and for the Six Months Ended June 30, 2015 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated (1) Inter-segment Eliminations Total (in thousands) Total revenue $ 83,914 $ — $ 749 $ 13,552 $ — $ (3,293 ) $ 94,922 Depletion, depreciation, amortization and accretion 78,163 — — 2,005 — (105 ) 80,063 Gain on sale of assets, net (28,384 ) — — (12 ) — — (28,396 ) Other operating expenses 88,988 — 601 10,125 19,644 (3,144 ) 116,214 Other expense (8,814 ) — — (308 ) (43,641 ) — (52,763 ) Income (loss) from continuing operations before income tax (63,667 ) — 148 1,126 (63,285 ) (44 ) (125,722 ) Total loss from discontinued operations, net of tax — — — — (1,873 ) — (1,873 ) Net income (loss) $ (63,667 ) $ — $ 148 $ 1,126 $ (65,158 ) $ (44 ) $ (127,595 ) Total assets $ 1,101,855 $ — $ 160 $ 45,566 $ 389,168 $ (2,485 ) $ 1,534,264 Total capital expenditures $ 60,422 $ — $ — $ 469 $ 1,858 $ — $ 62,749 As of and for the Six Months Ended June 30, 2014 U.S. Upstream Canadian Upstream Midstream and Marketing Oilfield Services Corporate Unallocated Inter-segment Eliminations Total (in thousands) Total revenue $ 160,350 $ — $ 65,593 $ 15,706 $ — $ (4,131 ) $ 237,518 Depletion, depreciation, amortization and accretion 56,128 — — 1,628 — — 57,756 Loss on sale of assets, net 3,757 — — (369 ) — — 3,388 Other operating expenses 109,978 — 65,443 13,074 23,542 (10,963 ) 201,074 Other expense (168 ) — — (420 ) (45,742 ) — (46,330 ) Income (loss) from continuing operations before income tax (9,681 ) — 150 953 (69,284 ) 6,832 (71,030 ) Total income (loss) from discontinued operations, net of tax (7,024 ) 10,636 (40,102 ) — (12,776 ) (6,832 ) (56,098 ) Net income (loss) $ (16,705 ) $ 10,636 $ (39,952 ) $ 953 $ (82,060 ) $ — $ (127,128 ) Total assets $ 1,485,120 $ — $ 380,108 $ 44,682 $ 61,180 $ (7,733 ) $ 1,963,357 Total capital expenditures $ 216,454 $ 305 $ 82,627 $ 2,947 $ 106 $ — $ 302,439

CONDENSED CONSOLIDATING GUARA39

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Schedule of Comprehensive Income (Loss)	Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Three Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (21,676 ) $ 11,469 $ 191 $ (11,660 ) $ (21,676 ) Foreign currency translation loss — (13 ) — — (13 ) Unrealized gain on available for sale securities — 309 — — 309 Amounts reclassified for other than temporary impairment of available for sale securities — — — — — Comprehensive income (loss) (21,676 ) 11,765 191 (11,660 ) (21,380 ) Three Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (71,300 ) $ 14,171 $ (28,598 ) $ 20,300 $ (65,427 ) Foreign currency translation gain — — 1,130 — 1,130 Unrealized loss on available for sale securities — (549 ) — — (549 ) Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc. 20,741 — — — 20,741 Comprehensive income (loss) (50,559 ) 13,622 (27,468 ) 20,300 (44,105 ) Comprehensive income attributable to non-controlling interest — — — 780 780 Comprehensive income (loss) attributable to Magnum Hunter Resources Corporation $ (50,559 ) $ 13,622 $ (27,468 ) $ 21,080 $ (43,325 ) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (127,595 ) $ (64,660 ) $ 357 $ 64,303 $ (127,595 ) Foreign currency translation gain — 102 — 102 Unrealized loss on available for sale securities — (1,099 ) — — (1,099 ) Amounts reclassified for other than temporary impairment of available for sale securities — 8,992 — — 8,992 Comprehensive income (loss) (127,595 ) (56,665 ) 357 64,303 (119,600 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Net income (loss) $ (139,119 ) $ (7,510 ) $ (29,459 ) $ 48,960 $ (127,128 ) Foreign currency translation loss — — (1,218 ) — (1,218 ) Unrealized loss on available for sale securities — (605 ) — — (605 ) Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc. 20,741 — — — 20,741 Comprehensive income (loss) (118,378 ) (8,115 ) (30,677 ) 48,960 (108,210 ) Comprehensive income attributable to non-controlling interest — — — 889 889 Comprehensive income (loss) attributable to Magnum Hunter Resources Corporation $ (118,378 ) $ (8,115 ) $ (30,677 ) $ 49,849 $ (107,321 )
Debt Securities Under Universal Shelf Registration Statement Form S-4
Condensed Financial Statements, Captions [Line Items]
Schedule of condensed consolidating balance sheets	Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Balance Sheets (in thousands) As of June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter ASSETS Current assets $ 12,886 $ 30,542 $ 377 $ (2,441 ) $ 41,364 Intercompany accounts receivable 1,136,540 — — (1,136,540 ) — Property and equipment (using successful efforts method of accounting) 6,653 1,118,792 — (44 ) 1,125,401 Investment in subsidiaries (146,125 ) 92,314 — 53,811 — Assets of discontinued operations and other 366,578 921 — — 367,499 Total Assets $ 1,376,532 $ 1,242,569 $ 377 $ (1,085,214 ) $ 1,534,264 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities $ 25,755 $ 119,623 $ 9 $ (2,443 ) $ 142,944 Intercompany accounts payable — 1,097,221 41,555 (1,138,776 ) — Long-term liabilities 929,551 40,543 — — 970,094 Redeemable preferred stock 100,000 — — — 100,000 Shareholders' equity (deficit) 321,226 (14,818 ) (41,187 ) 56,005 321,226 Total Liabilities and Shareholders' Equity $ 1,376,532 $ 1,242,569 $ 377 $ (1,085,214 ) $ 1,534,264 Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Balance Sheets (in thousands) As of December 31, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter ASSETS Current assets $ 85,647 $ 41,533 $ 589 $ (2,378 ) $ 125,391 Intercompany accounts receivable 1,113,417 — — (1,113,417 ) — Property and equipment (using successful efforts method of accounting) 5,506 1,170,122 30 — 1,175,658 Investment in subsidiaries (91,595 ) 94,134 — (2,539 ) — Assets of discontinued operations and other 369,995 3,980 — — 373,975 Total Assets $ 1,482,970 $ 1,309,769 $ 619 $ (1,118,334 ) $ 1,675,024 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities $ 25,347 $ 148,109 $ 2,567 $ (2,383 ) $ 173,640 Intercompany accounts payable — 1,073,091 42,560 (1,115,651 ) — Long-term liabilities 925,767 43,762 — — 969,529 Redeemable preferred stock 100,000 — — — 100,000 Shareholders' equity (deficit) 431,856 44,807 (44,508 ) (300 ) 431,855 Total Liabilities and Shareholders' Equity $ 1,482,970 $ 1,309,769 $ 619 $ (1,118,334 ) $ 1,675,024
Schedule of condensed consolidating statements of operations	Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Operations (in thousands) Three Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 12 $ 41,214 $ 233 $ (1,933 ) $ 39,526 Expenses 31,922 29,601 42 (1,957 ) 59,608 Income (loss) from continuing operations before equity in net income of subsidiaries (31,910 ) 11,613 191 24 (20,082 ) Equity in net income of subsidiaries 11,828 (144 ) — (11,684 ) — Income (loss) from continuing operations (20,082 ) 11,469 191 (11,660 ) (20,082 ) Gain on dilution of interest in Eureka Hunter Holdings — — — — — Loss from discontinued operations, net of tax (1,594 ) — — — (1,594 ) Net income (loss) (21,676 ) 11,469 191 (11,660 ) (21,676 ) Dividends on preferred stock (8,847 ) — — — (8,847 ) Net income (loss) attributable to common shareholders $ (30,523 ) $ 11,469 $ 191 $ (11,660 ) $ (30,523 ) Three Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 6 $ 131,208 $ 274 $ (1,840 ) $ 129,648 Expenses 36,512 116,053 362 (5,588 ) 147,339 Income (loss) from continuing operations before equity in net income of subsidiaries (36,506 ) 15,155 (88 ) 3,748 (17,691 ) Equity in net income of wholly-owned subsidiaries (19,314 ) (984 ) — 20,298 — Income (loss) from continuing operations (55,820 ) 14,171 (88 ) 24,046 (17,691 ) Loss from discontinued operations, net of tax — — (38,778 ) (3,746 ) (42,524 ) Gain (loss) on sale of discontinued operations, net of tax (15,480 ) — 10,268 — (5,212 ) Net income (loss) (71,300 ) 14,171 (28,598 ) 20,300 (65,427 ) Net income attributable to non-controlling interest — — — 780 780 Net income (loss) attributable to Magnum Hunter Resources Corporation (71,300 ) 14,171 (28,598 ) 21,080 (64,647 ) Dividends on preferred stock (8,848 ) — — — (8,848 ) Dividends on preferred stock of discontinued operations — — (6,482 ) — (6,482 ) Net income (loss) attributable to common shareholders $ (80,148 ) $ 14,171 $ (35,080 ) $ 21,080 $ (79,977 ) Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Operations (in thousands) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 13 $ 98,210 $ 761 $ (4,062 ) $ 94,922 Expenses 63,208 161,050 404 (4,018 ) 220,644 Income (loss) from continuing operations before equity in net income of subsidiaries (63,195 ) (62,840 ) 357 (44 ) (125,722 ) Equity in net income of subsidiaries (62,527 ) (1,820 ) — 64,347 — Income (loss) from continuing operations (125,722 ) (64,660 ) 357 64,303 (125,722 ) Gain on dilution of interest in Eureka Hunter Holdings 2,390 — — — 2,390 Income from discontinued operations, net of tax (4,263 ) — — — (4,263 ) Net income (loss) (127,595 ) (64,660 ) 357 64,303 (127,595 ) Dividends on preferred stock (17,695 ) — — — (17,695 ) Net income (loss) attributable to common shareholders $ (145,290 ) $ (64,660 ) $ 357 $ 64,303 $ (145,290 ) Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Revenues $ 114 $ 241,089 $ 445 $ (4,130 ) $ 237,518 Expenses 71,305 247,770 437 (10,964 ) 308,548 Income (loss) from continuing operations before equity in net income of subsidiaries (71,191 ) (6,681 ) 8 6,834 (71,030 ) Equity in net income of wholly-owned subsidiaries (48,129 ) (829 ) — 48,958 — Income (loss) from continuing operations (119,320 ) (7,510 ) 8 55,792 (71,030 ) Loss from discontinued operations, net of tax — — (35,541 ) (6,832 ) (42,373 ) Gain (loss) on sale of discontinued operations, net of tax (19,799 ) — 6,074 — (13,725 ) Net income (loss) (139,119 ) (7,510 ) (29,459 ) 48,960 (127,128 ) Net income attributable to non-controlling interest — — — 889 889 Net income (loss) attributable to Magnum Hunter Resources Corporation (139,119 ) (7,510 ) (29,459 ) 49,849 (126,239 ) Dividends on preferred stock (17,668 ) — — — (17,668 ) Dividends on preferred stock of discontinued operations — — (12,558 ) — (12,558 ) Net income (loss) attributable to common shareholders $ (156,787 ) $ (7,510 ) $ (42,017 ) $ 49,849 $ (156,465 )
Schedule of condensed consolidating statements of cash flows	Magnum Hunter Resources Corporation and Subsidiaries Condensed Consolidating Statements of Cash Flows (in thousands) Six Months Ended June 30, 2015 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Cash flows from operating activities $ (57,824 ) $ 109,933 $ — $ (149 ) $ 51,960 Cash flows from investing activities (1,283 ) (98,570 ) — 149 (99,704 ) Cash flows from financing activities 5,898 (2,540 ) — — 3,358 Effect of exchange rate changes on cash — 24 — — 24 Net increase (decrease) in cash (53,209 ) 8,847 — — (44,362 ) Cash at beginning of period 64,165 (10,985 ) — — 53,180 Cash at end of period $ 10,956 $ (2,138 ) $ — $ — $ 8,818 Six Months Ended June 30, 2014 Magnum Hunter 100% Owned Guarantor Non Guarantor Consolidating/ Eliminating Adjustments Magnum Hunter Cash flows from operating activities $ (192,121 ) $ 182,620 $ 28,248 $ — $ 18,747 Cash flows from investing activities 49,572 (177,365 ) (57,579 ) — (185,372 ) Cash flows from financing activities 111,324 3,038 19,629 — 133,991 Effect of exchange rate changes on cash — — 41 — 41 Net increase (decrease) in cash (31,225 ) 8,293 (9,661 ) — (32,593 ) Cash at beginning of period 47,895 (17,651 ) 11,469 — 41,713 Cash at end of period $ 16,670 $ (9,358 ) $ 1,808 $ — $ 9,120

GENERAL (Details)

GENERAL (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jul. 23, 2014
Summary of Significant Accounting Policies [Line Items]
Debt issuance costs	$ 21,252,000		$ 21,252,000		$ 22,856,000
PRC Williston, LLC (PRC)
Summary of Significant Accounting Policies [Line Items]
Consolidated controlling interest (as a percent)	100.00%		100.00%			87.50%
Sentra Corporation
Summary of Significant Accounting Policies [Line Items]
Regulated operating revenue, gas	$ 82,969	$ 274,827	$ 461,230	$ 445,899
Accounts Payable
Summary of Significant Accounting Policies [Line Items]
Prior period reclassification adjustment					5,200,000
Accounts Receivable
Summary of Significant Accounting Policies [Line Items]
Prior period reclassification adjustment					$ (5,200,000)

ACQUISITIONS, DIVESTITURES, A41

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS (Agreements to Purchase Utica Shale Acreage) (Details) $ in Millions	Jan. 14, 2015USD ($)	Jun. 30, 2015USD ($)a	Jun. 30, 2014USD ($)a	Jun. 30, 2015USD ($)a	Aug. 12, 2013USD ($)a
Utica Shale, Ohio
Discontinued operations
Net mineral acres acquired | a					32,000
Maximum purchase price					$ 142.1
Leasehold Acreage From MNW Energy, LLC
Discontinued operations
Payment to acquire leasehold acres	$ 12
Leasehold Acreage From MNW Energy, LLC | Utica Shale, Ohio
Discontinued operations
Net leasehold acres purchased, to date | a		25,044		25,044
Triad Hunter | Asset purchase agreement with MNW | Utica Shale, Ohio
Discontinued operations
Net acreage of undeveloped leasehold acquired | a		2,665	11,128	2,665
Payment to acquire leasehold acres		$ 12	$ 45.9	$ 103.9

ACQUISITIONS, DIVESTITURES, A42

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS (Sale of Certain West Virginia Assets) (Details) - Antero Resources Corporation - Triad Hunter - Right, title and interest in undeveloped and unproven leasehold acreage $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Aug. 06, 2015USD ($)	Jun. 18, 2015USD ($)a
Discontinued operations
Consideration received			$ 33.6
Leasehold acres of properties sold | a			5,210
Gain on sale	$ 26.2
Subsequent Event
Discontinued operations
Consideration received		$ 4

ACQUISITIONS, DIVESTITURES, A43

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS (Eureka Hunter Holdings) (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Nov. 18, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Discontinued operations
Deconsolidation gain			$ 0	$ 0	$ 2,390	$ 0
Deconsolidation, decrease in equity method basis difference							$ (201,800)
Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			45.53%		45.53%
Deconsolidation gain					$ 2,400
Deconsolidation, decrease in equity method basis difference					3,900
Equity method investments			$ 345,300		$ 345,300		$ 347,200
Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			53.00%		53.00%
Retained interest upon deconsolidation			$ 347,300		$ 347,300
Series A-1 Units | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			45.53%		45.53%
Series A-1 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Payments for Limited Liability Company (LLC) Units		$ 13,300
Series A-2 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			53.00%		53.00%
2015 Growth CapEx Projects Contribution | Series A-2 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Payments for Limited Liability Company (LLC) Units	$ 27,200
Additional Contribution | Series A-2 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Payments for Limited Liability Company (LLC) Units	37,800
MHR 2015 Make-Up Contribution | Series A-1 Units | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			46.44%		46.44%
MHR 2015 Make-Up Contribution | Series A-2 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Payments for Limited Liability Company (LLC) Units	$ 18,700
Equity method investment, ownership percentage			52.11%		52.11%
No MHR Additional Contribution Funding | Series A-1 Units | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			44.53%		44.53%
No MHR Additional Contribution Funding | Series A-2 Units | Morgan Stanley Infrastructure (MSI) | Eureka Hunter Holdings, LLC
Discontinued operations
Equity method investment, ownership percentage			53.98%		53.98%

ACQUISITIONS, DIVESTITURES, A44

ACQUISITIONS, DIVESTITURES, AND DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Ending Basis December 31, 2014			$ 201,874,000
Basis Amortization			(3,878,000)
Basis Reduction			(3,907,000)
Ending Basis June 30, 2015	$ 194,089,000		194,089,000
Magnum Hunter's interest in Eureka Hunter Holdings net loss	(87,000)	$ (135,000)	(318,000)	$ (357,000)
Results reclassified to discontinued operations
Loss from discontinued operations, net of tax	(1,594,000)	(42,524,000)	(4,263,000)	(42,373,000)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0	0	2,390,000	0
Loss on disposal of discontinued operations, net of tax	0	(5,212,000)	0	(13,725,000)
Loss from discontinued operations, net of taxes	(1,594,000)	(47,736,000)	(1,873,000)	(56,098,000)
WHI Canada
Results reclassified to discontinued operations
Revenues	0	11,103,000	0	22,960,000
Depreciation, depletion, amortization and accretion	0	(3,929,000)	0	(7,607,000)
Other operating expenses	0	(9,238,000)	0	(17,302,000)
Interest expense	0	(605,000)	0	(6,487,000)
Loss on derivative contracts, net	0	(39,830,000)	0	(33,894,000)
Loss from equity method investments	(1,594,000)	0	(4,263,000)	0
Other expense	0	(25,000)	0	(43,000)
Loss from discontinued operations, net of tax	(1,594,000)	(42,524,000)	(4,263,000)	(42,373,000)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0	0	2,390,000	0
Loss on disposal of discontinued operations, net of tax	0	(5,212,000)	0	(13,725,000)
Loss from discontinued operations, net of taxes	(1,594,000)	(47,736,000)	(1,873,000)	(56,098,000)
Loss on disposal of discontinued operation, tax		0		0
Eureka Hunter Holdings, LLC
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Operating revenues	17,409,000		31,124,000
Operating income (loss)	1,790,000		1,318,000
Net income (loss)	736,000		(846,000)
Magnum Hunter's interest in Eureka Hunter Holdings net loss	384,000		(385,000)
Magnum Hunter's equity in earnings, net	(1,594,000)		(4,263,000)
Assets of discontinued operations	345,300,000		345,300,000		$ 347,200,000
Results reclassified to discontinued operations
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax			2,400,000
Operating cash inflows		31,600,000		38,400,000
Investing cash outflows		$ (46,000,000)		$ (64,400,000)
Basis Difference Resulting from Deconsolidation | Eureka Hunter Holdings, LLC
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Basis difference amortization	(1,978,000)		$ (3,878,000)
Minimum
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Components of basis difference, estimated useful lives amortization period			3 years
Maximum
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Components of basis difference, estimated useful lives amortization period			39 years
Fixed assets
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Ending Basis December 31, 2014			$ 5,088,000
Basis Amortization			(128,000)
Basis Reduction			(98,000)
Ending Basis June 30, 2015	4,862,000		4,862,000
Intangible assets
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Ending Basis December 31, 2014			155,189,000
Basis Amortization			(3,750,000)
Basis Reduction			(2,705,000)
Ending Basis June 30, 2015	148,734,000		148,734,000
Goodwill
Identifiable Assets Basis Amortization And Reduction [Roll Forward]
Ending Basis December 31, 2014			41,597,000
Basis Amortization			0
Basis Reduction			(1,104,000)
Ending Basis June 30, 2015	$ 40,493,000		$ 40,493,000

OIL & NATURAL GAS SALES (Detail

OIL & NATURAL GAS SALES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Oil and Gas In Process Activities [Line Items]
Oil and natural gas sales	$ 33,418	$ 83,772	$ 82,809	$ 159,737
Oil
Oil and Gas In Process Activities [Line Items]
Oil and natural gas sales	15,087	41,506	24,631	76,859
Natural Gas
Oil and Gas In Process Activities [Line Items]
Oil and natural gas sales	13,023	28,264	44,883	55,784
NGLs
Oil and Gas In Process Activities [Line Items]
Oil and natural gas sales	$ 5,308	$ 14,002	$ 13,295	$ 27,094

PROPERTY, PLANT, & EQUIPMENT (D

PROPERTY, PLANT, & EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Mineral interests in properties:
Unproved leasehold costs	$ 444,692		$ 444,692		$ 481,643
Proved leasehold costs	284,185		284,185		257,185
Wells and related equipment and facilities	642,420		642,420		606,406
Advances to operators for wells in progress	1,283		1,283		1,411
Total costs	1,372,580		1,372,580		1,346,645
Less accumulated depreciation	(323,210)		(323,210)		(248,410)
Net capitalized costs	1,049,370		1,049,370		$ 1,098,235
Impairment of proved oil and gas properties			13,949	$ 158
Proved Oil and Natural Gas Properties
Mineral interests in properties:
Impairment of proved oil and gas properties	100	$ 200	13,900	16,900
Depreciation, depletion and amortization	$ 19,600	$ 30,100	$ 74,900	$ 53,900

PROPERTY, PLANT, & EQUIPMENT (E

PROPERTY, PLANT, & EQUIPMENT (Exploration) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Leasehold impairments	$ 931	$ 8,833	$ 8,769	$ 24,383
Geological and geophysical	548	353	1,200	727
Total exploration expense	1,479	9,186	9,969	25,110
Appalachian Basin
Property, Plant and Equipment [Line Items]
Leasehold impairments	$ 900		1,200	2,600
Williston Basin
Property, Plant and Equipment [Line Items]
Leasehold impairments		8,800	$ 7,600	$ 19,900
Magnum Hunter Production, Inc.
Property, Plant and Equipment [Line Items]
Leasehold impairments		$ 1,900

PROPERTY, PLANT, & EQUIPMENT (C

PROPERTY, PLANT, & EQUIPMENT (Capitalized Costs of Oil and Gas Properties) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Capitalized costs, gross	$ 1,372,580		$ 1,372,580		$ 1,346,645
Less accumulated depreciation	(323,210)		(323,210)		(248,410)
Net capitalized costs	1,049,370		1,049,370		1,098,235
Gas transportation, gathering and processing equipment and other
Property, Plant and Equipment [Line Items]
Capitalized costs, gross	102,817		102,817		100,436
Less accumulated depreciation	(26,786)		(26,786)		(23,013)
Net capitalized costs	76,031		76,031		$ 77,423
Depreciation, depletion and amortization	$ 2,100	$ 1,600	$ 3,900	$ 3,100

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Summary of asset retirement obligation
Asset retirement obligations at beginning of period		$ 26,524	$ 16,216
Assumed in acquisitions		92	0
Liabilities incurred		2	218
Liabilities settled		(55)	(107)
Liabilities sold		(74)	(2,598)
Accretion expense		1,281	1,478
Revisions in estimated liabilities	[1]	(859)	3,208
Reclassified from liabilities associated with assets of MHP		0	8,109
Asset retirement obligation at end of period		26,911	26,524
Less: current portion (included in other liabilities)		(967)	(295)
Asset retirement obligations at end of period		$ 25,944	$ 26,229
[1]	Revisions in estimated liabilities during 2014 relate to a change in assumptions used with respect to certain wells in the Appalachian Basin in Ohio and West Virginia.

FAIR VALUE OF FINANCIAL INSTR50

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair value measurements on a Recurring Basis
Available for sale securities	$ 2,447	$ 3,864
Derivative liabilities	490
Recurring | Level 1
Fair value measurements on a Recurring Basis
Available for sale securities	2,447	3,864
Total assets at fair value	2,447	3,864
Total liabilities at fair value	0
Recurring | Level 1 | Commodity derivative assets
Fair value measurements on a Recurring Basis
Derivative assets		0
Derivative liabilities	0
Recurring | Level 1 | Convertible security derivative assets
Fair value measurements on a Recurring Basis
Derivative assets	0	0
Recurring | Level 2
Fair value measurements on a Recurring Basis
Available for sale securities	0	0
Total assets at fair value	0	16,511
Total liabilities at fair value	490
Recurring | Level 2 | Commodity derivative assets
Fair value measurements on a Recurring Basis
Derivative assets		16,511
Derivative liabilities	490
Recurring | Level 2 | Convertible security derivative assets
Fair value measurements on a Recurring Basis
Derivative assets	0	0
Recurring | Level 3
Fair value measurements on a Recurring Basis
Available for sale securities	0	0
Total assets at fair value	27	75
Total liabilities at fair value	0
Recurring | Level 3 | Commodity derivative assets
Fair value measurements on a Recurring Basis
Derivative assets		0
Derivative liabilities	$ 0
Recurring | Level 3 | Convertible security derivative assets
Assumptions and methodology used for calculating fair value of assets and liabilities
Life (in years)	1 year 6 months 20 days
Risk-free interest rate	0.75%
Estimated volatility	84.00%
Dividend	0.00%
GreenHunter stock price at end of period	$ 0.67
Fair value measurements on a Recurring Basis
Derivative assets	$ 27	$ 75

FAIR VALUE OF FINANCIAL INSTR51

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - Embedded Derivatives, Assets - Level 3 - Convertible Security Embedded Derivative Financial Instruments [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of December 31, 2014	$ 75
Decrease in fair value recognized in gain (loss) on derivative contracts, net	(48)
June 30, 2015	$ 27

FAIR VALUE OF FINANCIAL INSTR52

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Level 2 | Carrying Amount | Senior Notes
Carrying amounts and fair values of long-term debt
Fair value of senior notes	$ 597,459	$ 597,355
Level 2 | Estimated Fair Value | Senior Notes
Carrying amounts and fair values of long-term debt
Fair value of senior notes	540,000	498,000
Level 3 | Carrying Amount | MHR Senior Revolving Credit Facility
Carrying amounts and fair values of long-term debt
Fair value of senior notes	5,000	0
Level 3 | Carrying Amount | MHR Second Lien Term Loan
Carrying amounts and fair values of long-term debt
Fair value of senior notes	328,002	329,140
Level 3 | Carrying Amount | Equipment Notes Payable
Carrying amounts and fair values of long-term debt
Fair value of senior notes	18,078	22,238
Level 3 | Estimated Fair Value | MHR Senior Revolving Credit Facility
Carrying amounts and fair values of long-term debt
Fair value of senior notes	5,000	0
Level 3 | Estimated Fair Value | MHR Second Lien Term Loan
Carrying amounts and fair values of long-term debt
Fair value of senior notes	319,769	329,140
Level 3 | Estimated Fair Value | Equipment Notes Payable
Carrying amounts and fair values of long-term debt
Fair value of senior notes	$ 18,041	$ 22,150

FAIR VALUE OF FINANCIAL INSTR53

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value of Financial Instruments
Impairment of proved oil and gas properties	$ 95	$ 158	$ 16,754	$ 13,949	$ 16,912
Fair Value, Measurements, Nonrecurring [Member] | Level 3
Fair Value of Financial Instruments
Fair value proved oil and gas properties	$ 487,300			$ 487,300
Long-lived assets			$ 60,000
Oil and Gas Properties
Fair Value of Financial Instruments
Discount rate				10.00%

INVESTMENTS AND DERIVATIVES (In

INVESTMENTS AND DERIVATIVES (Investment Holdings) (Details)		3 Months Ended		6 Months Ended
		Jun. 30, 2015USD ($)issuer	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)issuer	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Noncontrolling Interest [Line Items]
Number of issuers with business activities in oil and natural gas or mineral mining | issuer		3		3
Amounts reclassified for other than temporary impairment of available for sale securities		$ 0	$ 0	$ 8,992,000	$ 0
Changes In Investments [Roll Forward]
Available-for-sale Securities, beginning of period				3,864,000
Loss from equity method investments		(87,000)	$ (135,000)	(318,000)	$ (357,000)
Change in fair value recognized in other comprehensive loss				(1,099,000)
Available-for-sale Securities, end of period		2,447,000		2,447,000
Green Hunter Energy
Noncontrolling Interest [Line Items]
Equity method investments		0		0		$ 0
Common stock, value, outstanding		$ 1,300,000		1,300,000		$ 0
Available for Sale Securities
Changes In Investments [Roll Forward]
Loss from equity method investments	[1]			$ (318,000)
[1]	(1) As a result of the carrying value of the Company's investment in common stock of GreenHunter being reduced to zero from equity method losses, the Company is required to allocate any additional losses to its investment in the Series C preferred stock of GreenHunter. The Company recorded additional equity method loss against the carrying value of its investment in the Series C preferred stock of GreenHunter before recording any mark-to-market adjustments.

INVESTMENTS AND DERIVATIVES (Fa

INVESTMENTS AND DERIVATIVES (Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Equity Securities, Amortized Cost	$ 883	$ 9,876
Equity Securities, Gross Unrealized Loss	(174)	(7,323)
Equity Securities	709	2,553
Equity Securities, Related Party, Amortized Cost Basis	2,200	2,200
Equity Securities, Related Party, Gross Unrealized Loss	(462)	(889)
Equity Securities, Related Party	1,738	1,311
Equity Securities, Including Related Party, Amortized Cost Basis	3,083	12,076
Equity Securities, Including Related Party, Gross Unrealized Loss	(636)	(8,212)
Equity Securities, Including Related Party	$ 2,447	$ 3,864

INVESTMENTS AND DERIVATIVES (Co

INVESTMENTS AND DERIVATIVES (Commodity Derivatives) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)$ / bblbbl	May. 07, 2015USD ($)	Dec. 31, 2014USD ($)
Derivative [Line Items]
Outstanding borrowings	$ 948,539		$ 948,733
Revolving Credit Facility | Line of Credit | Fourth Amended And Restated Credit Agreement, Maturing October 22, 2018
Derivative [Line Items]
Proceeds from termination of commodity derivative positions expected		$ 11,800
Outstanding borrowings	$ 5,000
Crude Oil | Jan 2015 - Dec 2015 | Call Option
Derivative [Line Items]
Bbl/day | bbl	1,570
Price per Bbl | $ / bbl	120
Crude Oil | Jan 2015 - Dec 2015 | Put Option
Derivative [Line Items]
Bbl/day | bbl	259
Price per Bbl | $ / bbl	70

INVESTMENTS AND DERIVATIVES (57

INVESTMENTS AND DERIVATIVES (Commodity and Financial Derivative Contracts) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value
Derivative Assets	$ 27	$ 16,586
Derivative Liabilities	490	0
Commodity
Derivatives, Fair Value
Derivative Assets	0	16,511
Derivative Liabilities	490	0
Financial
Derivatives, Fair Value
Derivative Assets	27	75
Derivative Liabilities	0	0
Derivative assets | Commodity
Derivatives, Fair Value
Derivative Assets	0	16,511
Derivative assets | Financial
Derivatives, Fair Value
Derivative Assets	27	75
Derivative liabilities | Commodity
Derivatives, Fair Value
Derivative Liabilities	$ 490	$ 0

INVESTMENTS AND DERIVATIVES (Ef

INVESTMENTS AND DERIVATIVES (Effect of Master Netting) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivative [Line Items]
Derivative Asset, Fair Value, Amount Offset Against Collateral	$ (490)	$ 0
Derivative Liability, Fair Value, Gross Liability	(490)
Derivative Liability, Fair Value, Amount Offset Against Collateral	0
Derivative Liability	(490)
Gross Amounts of Recognized Assets and Liabilities		16,511
Gross Amounts Offset on the Consolidated Balance Sheet		0
Net Amount		16,511
Current Assets
Derivative [Line Items]
Derivative Assets, Gross Amount		18,146
Derivative Asset, Fair Value, Amount Offset Against Collateral		(1,635)
Derivative assets		16,511
Current Liabilities
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	(490)	(1,635)
Derivative Liability, Fair Value, Amount Offset Against Collateral	0	1,635
Derivative Liability	$ (490)	$ 0

INVESTMENTS AND DERIVATIVES (Ne

INVESTMENTS AND DERIVATIVES (Net Gain (Loss)) (Details) - Commodity derivative assets - Other Income (Expense) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary of net gain (loss) on derivative contracts
Gain (loss) on derivative contracts	$ (325)	$ (3,006)	$ 2,777	$ (8,595)
Settled Transaction
Summary of net gain (loss) on derivative contracts
Gain (loss) on derivative contracts	(1,117)	(2,267)	3,194	(4,551)
Open Transaction
Summary of net gain (loss) on derivative contracts
Gain (loss) on derivative contracts	$ 792	$ (739)	$ (417)	$ (4,044)

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2012	Dec. 31, 2014
Debt Instrument [Line Items]
Total long-term debt, outstanding	$ 948,539		$ 948,733
Less: current portion	(9,854)		(10,770)
Total long-term debt obligations, net of current portion	938,685		937,963
MHR second lien term loan due October 22, 2019, interest rate of 8.5%, net of unamortized discount of $9.4 million and $10.0 million at June 30, 2015 and December 31, 2014, respectively
Debt Instrument [Line Items]
Long-term debt, unamortized discount	9,400		10,000
Senior Notes | Senior Notes payable due May 15, 2020, interest rate of 9.75%, net of unamortized net discount of $2.5 million and $2.6 million at June 30, 2015 and December 31, 2014, respectively
Debt Instrument [Line Items]
Total long-term debt, outstanding	$ 597,459		$ 597,355
Long-term debt, stated interest rate	9.75%		9.75%
Long-term debt, unamortized discount	$ 2,500		$ 2,600
Senior Notes and Term Loans | Senior Notes payable due May 15, 2020, interest rate of 9.75%, net of unamortized net discount of $2.5 million and $2.6 million at June 30, 2015 and December 31, 2014, respectively
Debt Instrument [Line Items]
Long-term debt, unamortized discount	12,000
Note Payable | Various equipment and real estate notes payable with maturity dates February 2015 - November 2017, interest rates of 4.25% - 7.94%
Debt Instrument [Line Items]
Total long-term debt, outstanding	$ 18,078		22,238
Note Payable | Notes Payable Due January 2015 - April 2021
Debt Instrument [Line Items]
Long-term debt, stated interest rate, minimum	4.25%	4.25%
Long-term debt, stated interest rate, maximum	7.94%	7.94%
Line of Credit | MHR Senior Revolving Credit Facility | MHR Senior Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt, outstanding	$ 5,000		$ 0
Line of Credit | MHR Senior Revolving Credit Facility | 2.96 and 3.56 Percent Revolving Credit Facility due April 2016 and December 2013
Debt Instrument [Line Items]
Long-term debt, stated interest rate	4.19%		2.92%
Term Loan | MHR second lien term loan due October 22, 2019, interest rate of 8.5%, net of unamortized discount of $9.4 million and $10.0 million at June 30, 2015 and December 31, 2014, respectively
Debt Instrument [Line Items]
Total long-term debt, outstanding	$ 328,002		$ 329,140
Long-term debt, stated interest rate	8.50%		8.50%

DEBT (Expected Annual Maturitie

DEBT (Expected Annual Maturities of Debt) (Details) $ in Thousands	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
2,015	$ 4,912
2,016	12,127
2,017	5,948
2,018	8,958
2,019	325,757
Thereafter	602,826
Total long-term debt, outstanding	$ 960,528

DEBT (MHR Senior Revolving Cred

DEBT (MHR Senior Revolving Credit Facility) (Details)	Aug. 07, 2015USD ($)	Jul. 27, 2015	Apr. 17, 2015	Oct. 22, 2014USD ($)	Aug. 07, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	May. 01, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Net proceeds from sales of common shares								$ 21,829,000	$ 178,575,000
Outstanding borrowings						$ 948,539,000		948,539,000			$ 948,733,000
Subsequent Event
Debt Instrument [Line Items]
Accounts payable, net, in excess of 180 days outstanding	$ 8,800,000				$ 8,800,000
Line of Credit | MHR Senior Revolving Credit Facility | Fourth Amended And Restated Credit Agreement, Maturing October 22, 2018
Debt Instrument [Line Items]
Borrowing base						50,000,000		50,000,000		$ 50,000,000
Outstanding borrowings						5,000,000		5,000,000
Borrowing capacity						$ 6,000,000		$ 6,000,000
Line of Credit | MHR Senior Revolving Credit Facility | Third Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								90 days
Line of Credit | MHR Senior Revolving Credit Facility | Fourth Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								90 days
Line of Credit | MHR Senior Revolving Credit Facility | First Amendment
Debt Instrument [Line Items]
Maximum allowable investments in oil and gas properties											2,000,000
Allowed maximum investments in subsidiary											2,000,000
Threshold for liquidity event, arms length transaction											36,000,000
Threshold for liquidity event, cash proceeds receivable by company or restricted subsidiary											$ 73,000,000
Liquidity event not met, increase in variable rate						1.00%		1.00%
Liquidity event not met, increase in commitment fee						0.25%		0.25%
Line of Credit | MHR Senior Revolving Credit Facility | Second Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								90 days
Line of Credit | MHR Senior Revolving Credit Facility | Fifth Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								90 days
Line of Credit | MHR Senior Revolving Credit Facility | Fifth Amendment | Subsequent Event
Debt Instrument [Line Items]
Number of days to cure technical default		30 days
Line of Credit | MHR Senior Revolving Credit Facility | Second Lien Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding			180 days					90 days
Line of Credit | MHR Senior Revolving Credit Facility | Second Lien Amendment | Subsequent Event
Debt Instrument [Line Items]
Number of days to cure technical default		30 days
Line of Credit | Letter of Credit | Senior Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit outstanding						$ 39,000,000		$ 39,000,000
Fiscal Quarter Ending December 31, 2014 | Line of Credit | Term Loan | Second Lien Term Loan Agreement
Debt Instrument [Line Items]
Proved Reserves to secured debt ratio (not less than 1.5 to 1.0)				1.5
Proved developed and producing reserves to secured debt ratio (not less than 1.0 to 1.0)				1
Credit Agreement Amendment Period April 17, 2015 Through May 29, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | First Amendment
Debt Instrument [Line Items]
Interest rate margin increase								25.00%
Credit Agreement Amendment Period April 17, 2015 Through May 29, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | Second Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								180 days
Aggregate net cash proceeds, threshold for preferred stock dividend payment						$ 65,000,000		$ 65,000,000
Credit Agreement Amendment Period July 10, 2015 Through December 31, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | Fifth Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								180 days
Credit Agreement Amendment Period May 28, 2015 Through June 19, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | Third Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								180 days
Credit Agreement Amendment Period June 19, 2015 Through July 10, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | Fourth Amendment
Debt Instrument [Line Items]
Number of days accounts payable outstanding								180 days
Fiscal Quarter Ending March 31, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | First Amendment
Debt Instrument [Line Items]
Current ratio							0.75
Fiscal Quarter Ending September 30, 2015 | Line of Credit | MHR Senior Revolving Credit Facility | First Amendment
Debt Instrument [Line Items]
Required maximum secured Net Debt to EBITDAX ratio							2.5
Fiscal Quarter Ending June 30, 2015 And Each Fiscal Quarter Thereafter | Line of Credit | MHR Senior Revolving Credit Facility | First Amendment
Debt Instrument [Line Items]
Current ratio						1
Fiscal Quarter Ending March 31, 2016 And Any Fiscal Quarter Trailing Four-Quarter Period Then Ended | Line of Credit | Term Loan | Second Lien Term Loan Agreement
Debt Instrument [Line Items]
Leverage ratio limitation on netting of unencumbered cash				$ 100,000,000
Required maximum secured Net Debt to EBITDAX ratio				2.5
Fiscal Quarter Ending March 31, 2016 And Any Fiscal Quarter Trailing Four-Quarter Period Then Ended | Line of Credit | MHR Senior Revolving Credit Facility | Fourth Amended And Restated Credit Agreement, Maturing October 22, 2018
Debt Instrument [Line Items]
Required maximum secured Net Debt to EBITDAX ratio						2
Universal Shelf Registration Statement Form S3
Debt Instrument [Line Items]
Net proceeds from sales of common shares								$ 21,800,000
Universal Shelf Registration Statement Form S3 | Subsequent Event
Debt Instrument [Line Items]
Net proceeds from sales of common shares	$ 6,000,000				$ 9,300,000

DEBT (Eureka Hunter Pipeline Cr

DEBT (Eureka Hunter Pipeline Credit Agreement) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$ 948,539	$ 948,733

DEBT (Interest Expense) (Detail

DEBT (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Interest expense incurred on debt, net of amounts capitalized	$ 23,262	$ 15,937	$ 45,920	$ 33,084
Amortization and write-off of deferred financing costs	840	3,939	1,647	4,807
Total interest expense	$ 24,102	$ 19,876	$ 47,567	37,891
Amendment to Third Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Write off of unamortized deferred financing costs				$ 1,700

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 18, 2015	Mar. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share Based Compensation
Share-based compensation expense			$ 1,700	$ 2,300	$ 4,800	$ 3,400
Additional disclosures
Share based compensation					$ 5,147
Stock options and stock appreciation rights
Shares
Outstanding at beginning of period (in shares)					13,195,000	16,891,000
Granted (in shares)					0	0
Exercised (in shares)					0	(2,115,000)
Forfeited (in shares)					(2,448,000)	(932,000)
Outstanding at end of period (in shares)			10,747,000	13,844,000	10,747,000	13,844,000
Exercisable at end of period (in shares)			8,433,000	9,478,000	8,433,000	9,478,000
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)					$ 5.92	$ 5.69
Granted (in dollars per share)					0	0
Exercised (in dollars per share)					0	4.14
Forfeited (in dollars per share)					6.43	6.32
Outstanding at end of period (in dollars per share)			$ 5.81	$ 5.88	5.81	5.88
Exercisable at end of period (in dollars per share)			$ 5.91	$ 6.20	$ 5.91	$ 6.20
Non-vested Shares
Non-vested at beginning of period (in shares)					4,055,000	6,908,000
Granted (in shares)					0	0
Vested (in shares)					(1,356,000)	(1,801,000)
Forfeited (in shares)					(385,000)	(741,000)
Non-vested at end of period (in shares)			2,314,000	4,366,000	2,314,000	4,366,000
Additional disclosures
Unrecognized compensation cost			$ 1,100	$ 6,300	$ 1,100	$ 6,300
Weighted average period for recognition of compensation cost					8 months 5 days
Remaining contractual term					4 years 6 months 22 days
Restricted stock
Additional disclosures
Unrecognized compensation cost			$ 6,800	$ 8,300	$ 6,800	$ 8,300
Weighted average period for recognition of compensation cost					1 year 7 months 20 days
Grants in period					105,000
Estimated future forfeiture rate					5.60%
Award vesting period					3 years
Grant date fair value					$ 300
Officers executives and employees | Common Stock
Additional disclosures
Grants in period		535,274
Board of directors
Additional disclosures
Share based compensation		$ 1,400
Board Of Directors, Non Employee Members | Restricted stock
Additional disclosures
Grants in period	600,000
Share based compensation	$ 700
Estimated future forfeiture rate	5.60%
Award vesting period	2 years
Award vesting period upon change in control of the Company	6 months
Amended And Restated Stock Incentive Plan
Share Based Compensation
Options, outstanding, number			10,747,306		10,747,306
Options, unvested, number of shares			2,314,793		2,314,793
Amended And Restated Stock Incentive Plan | Common Stock
Share Based Compensation
Number of shares authorized under the plan			27,500,000		27,500,000
Number of shares issued under the plan			12,399,175		12,399,175
Common stock shares unvested, number			2,308,084,000		2,308,084,000

SHAREHOLDERS_ EQUITY (Details)

SHAREHOLDERS’ EQUITY (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Mar. 13, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Shares issued in connection with share-based compensation			1,100,937
Common stock, shares issued	213,963,234		213,963,234			201,420,701
Net proceeds from sales of common shares			$ 21,829,000	$ 178,575,000
Preferred stock dividends	$ 8,847,000	$ 8,848,000	17,695,000	17,668,000
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends	2,562,000	2,562,000	5,124,000	5,124,000
Series D Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends	4,425,000	4,425,000	8,849,000	8,849,000
Series E Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends	$ 1,860,000	1,861,000	$ 3,722,000	$ 3,695,000
Dilutive
Class of Stock [Line Items]
Potentially dilutive securities outstanding (shares)			43,108,000	45,479,000
Series E Preferred Stock | Dilutive
Class of Stock [Line Items]
Potentially dilutive securities outstanding (shares)			10,946,000	10,946,000
Warrant | Dilutive
Class of Stock [Line Items]
Potentially dilutive securities outstanding (shares)			19,173,000	19,214,000
Unvested restricted shares | Dilutive
Class of Stock [Line Items]
Potentially dilutive securities outstanding (shares)			2,242,000	1,475,000
Common stock options and stock appreciation rights | Dilutive
Class of Stock [Line Items]
Potentially dilutive securities outstanding (shares)			10,747,000	13,844,000
Universal Shelf Registration Statement Form S3
Class of Stock [Line Items]
Shelf registration maximum offering					$ 500,000,000
Common stock, shares issued	11,441,596		11,441,596
Net proceeds from sales of common shares			$ 21,800,000
Sales commissions			600,000
Eureka Hunter Holdings, LLC
Class of Stock [Line Items]
Accretion of the carrying value of the Eureka Hunter Holdings Series A Preferred Units	$ 0	2,229,000	0	$ 4,277,000
Total dividends on Preferred Stock of discontinued operations	0	6,482,000	0	12,558,000
Eureka Hunter Holdings, LLC | Class A Preferred Units
Class of Stock [Line Items]
Preferred stock dividends	$ 0	$ 4,253,000	$ 0	$ 8,281,000

REDEEMABLE PREFERRED STOCK (Det

REDEEMABLE PREFERRED STOCK (Details) $ in Millions	Sep. 16, 2014USD ($)
Series A Preferred Units | Eureka Hunter Holdings, LLC
Class of Stock [Line Items]
Preferred units sold to Ridgeline	$ 200

RELATED PARTY TRANSACTIONS (Bal

RELATED PARTY TRANSACTIONS (Balances) (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
GreenHunter Resources, Inc.
Related Party Transaction
Accounts payable - net	[1]	$ (809,000)	$ (224,000)
Derivative assets	[1],[2]	27,000	75,000
Investments	[1],[2]	1,738,000	1,311,000
Notes receivable	[1],[2]	952,000	1,224,000
Prepaid expense	[1]	0	1,000,000
Eureka Hunter Holdings, LLC
Related Party Transaction
Accounts receivable (payable) - net	[3]	(5,053,000)	122,000
Equity method investments	[3]	345,318,000	347,191,000
Pilatus Hunter
Related Party Transaction
Accounts receivable (payable) - net		12,000	12,000
Classic Petroleum, Inc. [Member]
Related Party Transaction
Accounts payable - net	[4]	$ (304,000)	$ 0
Common Stock | GreenHunter Resources, Inc.
Related Party Transaction
Investment in related parties, shares		1,846,722
Investment in related parties, carrying value		$ 0
Series C Preferred Stock | GreenHunter Resources, Inc.
Related Party Transaction
Investment in related parties, shares		88,000
Investment in related parties, carrying value		$ 1,700,000
[1]	GreenHunter is an entity of which Gary C. Evans, the Company's Chairman and CEO, is the Chairman and a major shareholder. Triad Hunter and Viking International Resources Co., Inc., wholly-owned subsidiaries of the Company, receive services related to brine water and rental equipment from GreenHunter and certain affiliated companies. The Company believes that such services were and are provided at competitive market rates and were and are comparable to, or more attractive than, rates that could be obtained from unaffiliated third party suppliers of such services.
[2]	On February 17, 2012, the Company sold its wholly-owned subsidiary, Hunter Disposal, to GreenHunter Water, LLC ("GreenHunter Water"), a wholly-owned subsidiary of GreenHunter. The Company recognized an embedded derivative asset resulting from the conversion option under the convertible promissory note it received as partial consideration for the sale. See "Note 6 - Fair Value of Financial Instruments" for additional information. The Company has recorded interest income as a result of the note receivable from GreenHunter. Also as a result of this transaction, the Company has an equity method investment in GreenHunter that is included in derivatives and investment in affiliates - equity method and an available for sale investment in GreenHunter included in investments.
[3]	Following a series of transactions up to and including, December 18, 2014, the Company no longer held a controlling financial interest in Eureka Hunter Holdings. The Company deconsolidated Eureka Hunter Holdings and accounts for its retained interest as of December 31, 2014 under the equity method of accounting. See "Note 7 - Investments and Derivatives". As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations", in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented.
[4]	Classic Petroleum, Inc. is an entity owned by the brother of James W. Denny, III, the Company's Executive Vice President and President of the Company's Appalachian Division. Triad Hunter received land brokerage services from Classic Petroleum, Inc., including courthouse abstracting, contract negotiations, GIS mapping and leasing services.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)		May. 04, 2015USD ($)	Dec. 29, 2014USD ($)	Sep. 15, 2014USD ($)	Jul. 18, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Mar. 31, 2015USD ($)	Oct. 03, 2014$ / MMBTU
Related Party Transaction
Loss from equity method investment						$ 87,000	$ 135,000	$ 318,000	$ 357,000
Consulting agreement, term					12 months
Share-based compensation								4,837,000	3,375,000
GreenHunter Resources, Inc.
Related Party Transaction
Interest income	[1]					39,000	38,000	70,000	83,000
Loss from equity method investment	[1]					87,000	135,000	318,000	357,000
Capitalized Costs Incurred, Disposal Costs	[2]					19,000	1,192,000	$ 465,000	1,810,000
Rental agreement term								5 years
Rental agreement, prepayment			$ 1,000,000
Rental agreement, credit for services, percent			50.00%
Notes receivable						1,000,000		$ 1,000,000
Quarterly payment of principal and interest (through February 2017)						137,500		137,500
Note receivable, past due amount										$ 168,437
Repayment of principal and interest of note receivable		$ 168,437
GreenHunter Resources, Inc. | Production Costs
Related Party Transaction
Related party expenses	[2]					1,288,000	632,000	2,199,000	1,076,000
GreenHunter Resources, Inc. | Midstream natural gas gathering, processing, and marketing
Related Party Transaction
Related party expenses						0	400,000	0	400,000
GreenHunter Resources, Inc. | Oilfield Services
Related Party Transaction
Related party expenses	[2]					71,000	0	104,000	0
GreenHunter Resources, Inc. | General and administrative
Related Party Transaction
Related party expenses	[2]					6,000	13,000	12,000	36,000
GreenHunter Resources, Inc. | Miscellaneous income
Related Party Transaction
Miscellaneous income	[1]					55,000	55,000	$ 110,000	110,000
Pilatus Hunter
Related Party Transaction
Percentage of owned in subsidiary								100.00%
Pilatus Hunter | General and administrative
Related Party Transaction
Related party expenses	[3]					25,000	88,000	$ 36,000	158,000
Eureka Hunter Holdings, LLC
Related Party Transaction
Capitalized Costs Incurred, Disposal Costs	[4]					0	0	121,000	0
Eureka Hunter Holdings, LLC | Production Costs
Related Party Transaction
Related party expenses	[4]					478,000	0	596,000	0
Eureka Hunter Holdings, LLC | Oilfield Services
Related Party Transaction
Related party expenses	[4]					13,000	0	16,000	0
Eureka Hunter Holdings, LLC | Transportation, processing, and other related costs
Related Party Transaction
Related party expenses	[4]					4,973,000	0	10,714,000	0
Kirk Trosclair [Member]
Related Party Transaction
Monthly labor and related expense					$ 10,000
Labor and related expense								89,000
Share-based compensation								76,000
Classic Petroleum, Inc. [Member]
Related Party Transaction
Capitalized Costs Incurred, Land Services	[5]					$ 23,000	$ 212,000	$ 185,000	$ 524,000
Chief Executive Officer | GreenHunter Resources, Inc.
Related Party Transaction
Shares purchased by related party from agreement for acquisition of assets | shares								27,641
Eureka Hunter Pipeline Gas Gathering Agreement
Related Party Transaction
Oil and gas delivery commitments and contracts, fixed price | $ / MMBTU											0.75
Amended and Restated Gas Gathering Services Agreement
Related Party Transaction
Administrative services revenue				$ 500,000
Administrative services revenue, additional percentage on annual fee				1.50%
[1]	On February 17, 2012, the Company sold its wholly-owned subsidiary, Hunter Disposal, to GreenHunter Water, LLC ("GreenHunter Water"), a wholly-owned subsidiary of GreenHunter. The Company recognized an embedded derivative asset resulting from the conversion option under the convertible promissory note it received as partial consideration for the sale. See "Note 6 - Fair Value of Financial Instruments" for additional information. The Company has recorded interest income as a result of the note receivable from GreenHunter. Also as a result of this transaction, the Company has an equity method investment in GreenHunter that is included in derivatives and investment in affiliates - equity method and an available for sale investment in GreenHunter included in investments.
[2]	GreenHunter is an entity of which Gary C. Evans, the Company's Chairman and CEO, is the Chairman and a major shareholder. Triad Hunter and Viking International Resources Co., Inc., wholly-owned subsidiaries of the Company, receive services related to brine water and rental equipment from GreenHunter and certain affiliated companies. The Company believes that such services were and are provided at competitive market rates and were and are comparable to, or more attractive than, rates that could be obtained from unaffiliated third party suppliers of such services.
[3]	The Company rented an airplane for business use for certain members of Company management at various times from Pilatus Hunter, LLC, an entity 100% owned by Mr. Evans. Airplane rental expenses are recorded in general and administrative expense.
[4]	Following a series of transactions up to and including, December 18, 2014, the Company no longer held a controlling financial interest in Eureka Hunter Holdings. The Company deconsolidated Eureka Hunter Holdings and accounts for its retained interest as of December 31, 2014 under the equity method of accounting. See "Note 7 - Investments and Derivatives". As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations", in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented.
[5]	Classic Petroleum, Inc. is an entity owned by the brother of James W. Denny, III, the Company's Executive Vice President and President of the Company's Appalachian Division. Triad Hunter received land brokerage services from Classic Petroleum, Inc., including courthouse abstracting, contract negotiations, GIS mapping and leasing services.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jan. 14, 2015USD ($)a	Jun. 30, 2014USD ($)	Jun. 30, 2015a	Jul. 01, 2014USD ($)	Aug. 12, 2013a
Utica Shale, Ohio
Subsequent Event [Line Items]
Net mineral acres acquired | a					32,000
Leasehold Acreage From MNW Energy, LLC
Subsequent Event [Line Items]
Net leasehold acres purchased | a	2,665.1
Payment to acquire leasehold acres	$ 12
Percent of total leasehold acres acquired under the asset purchase agreement			78.30%
Drilling Rig Purchase | Alpha Hunter Drilling LLC
Subsequent Event [Line Items]
Purchase price of a new drilling rig		$ 6.5
Deposit on equipment purchase				$ 1.3
Utica Shale, Ohio | Leasehold Acreage From MNW Energy, LLC
Subsequent Event [Line Items]
Net leasehold acres purchased, to date | a			25,044

SUPPLEMENTAL CASH FLOW INFORM71

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Supplemental Cash Flow Elements [Abstract]
Cash paid for interest	$ 41,947	$ 35,679
Non-cash transactions
Non-cash consideration received from sale of assets		9,447
Change in accrued capital expenditures	(75,585)	41,270
Non-cash additions to asset retirement obligation	$ 516	13
Eureka Hunter Holdings Series A Preferred Unit dividends paid in kind		$ 1,950

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	May. 31, 2014	Jun. 30, 2015		Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014	Dec. 31, 2014
Details of operating activities by segment
Total revenue		$ 39,526		$ 129,648	$ 94,922		$ 237,518
Depletion, depreciation, amortization and accretion		22,313		32,026	80,063		57,756
Loss (gain) on sale of assets, net		(26,744)		(687)	(28,396)		3,388
Other operating expenses		39,428		93,495	116,214		201,074
Other expense		(24,611)		(22,505)	(52,763)		(46,330)
Income (loss) from continuing operations before income tax		(20,082)		(17,691)	(125,722)		(71,030)
Total income (loss) from discontinued operations, net of tax		(1,594)		(47,736)	(1,873)		(56,098)
Net income (loss)		(21,676)		(65,427)	(127,595)		(127,128)
Total assets		1,534,264		1,963,357	1,534,264		1,963,357	$ 1,675,024
Total capital expenditures		13,562		204,473	62,749		302,439
WHI Canada
Details of operating activities by segment
Ownership percentage sold	100.00%
Total income (loss) from discontinued operations, net of tax		(1,594)		(47,736)	(1,873)		(56,098)
Eureka Hunter Holdings, LLC
Details of operating activities by segment
Equity method investments		345,300			345,300			$ 347,200
Operating Segments | U.S. Upstream
Details of operating activities by segment
Total revenue		33,701		84,138	83,914		160,350
Depletion, depreciation, amortization and accretion		21,266		31,188	78,163		56,128
Loss (gain) on sale of assets, net		(26,744)		(316)	(28,384)		3,757
Other operating expenses		27,329		41,113	88,988		109,978
Other expense		(601)		204	(8,814)		(168)
Income (loss) from continuing operations before income tax		11,249		12,357	(63,667)		(9,681)
Total income (loss) from discontinued operations, net of tax		0		(2,705)	0		(7,024)
Net income (loss)		11,249		9,652	(63,667)		(16,705)
Total assets		1,101,855		1,485,120	1,101,855		1,485,120
Total capital expenditures		13,104		150,143	60,422		216,454
Operating Segments | Canadian Upstream
Details of operating activities by segment
Total revenue		0		0	0		0
Depletion, depreciation, amortization and accretion		0		0	0		0
Loss (gain) on sale of assets, net		0		0	0		0
Other operating expenses		0		0	0		0
Other expense		0		0	0		0
Income (loss) from continuing operations before income tax		0		0	0		0
Total income (loss) from discontinued operations, net of tax		0		11,461	0		10,636
Net income (loss)		0		11,461	0		10,636
Total assets		0		0	0		0
Total capital expenditures		0		(3)	0		305
Operating Segments | Midstream and Marketing
Details of operating activities by segment
Total revenue		431		39,556	749		65,593
Depletion, depreciation, amortization and accretion		0		0	0		0
Loss (gain) on sale of assets, net		0		0	0		0
Other operating expenses		197		38,554	601		65,443
Other expense		0		0	0		0
Income (loss) from continuing operations before income tax		234		1,002	148		150
Total income (loss) from discontinued operations, net of tax		0		(39,970)	0		(40,102)
Net income (loss)		234		(38,968)	148		(39,952)
Total assets		160		380,108	160		380,108
Total capital expenditures		0		51,993	0		82,627
Operating Segments | Oilfield Services
Details of operating activities by segment
Total revenue		6,878		7,795	13,552		15,706
Depletion, depreciation, amortization and accretion		999		838	2,005		1,628
Loss (gain) on sale of assets, net		0		(371)	(12)		(369)
Other operating expenses		4,848		6,361	10,125		13,074
Other expense		(142)		(211)	(308)		(420)
Income (loss) from continuing operations before income tax		889		756	1,126		953
Total income (loss) from discontinued operations, net of tax		0		0	0		0
Net income (loss)		889		756	1,126		953
Total assets		45,566		44,682	45,566		44,682
Total capital expenditures		48		2,257	469		2,947
Corporate Unallocated
Details of operating activities by segment
Total revenue		0	[1]	0	0	[1]	0
Depletion, depreciation, amortization and accretion		0	[1]	0	0	[1]	0
Loss (gain) on sale of assets, net		0	[1]	0	0	[1]	0
Other operating expenses		8,610	[1]	13,054	19,644	[1]	23,542
Other expense		(23,868)	[1]	(22,498)	(43,641)	[1]	(45,742)
Income (loss) from continuing operations before income tax		(32,478)	[1]	(35,552)	(63,285)		(69,284)
Total income (loss) from discontinued operations, net of tax		(1,594)	[1]	(12,776)	(1,873)		(12,776)
Net income (loss)		(34,072)	[1]	(48,328)	(65,158)	[1]	(82,060)
Total assets		389,168	[1]	61,180	389,168	[1]	61,180
Total capital expenditures		410	[1]	83	1,858	[1]	106
Inter-segment Eliminations
Details of operating activities by segment
Total revenue		(1,484)		(1,841)	(3,293)		(4,131)
Depletion, depreciation, amortization and accretion		48		0	(105)		0
Loss (gain) on sale of assets, net		0		0	0		0
Other operating expenses		(1,556)		(5,587)	(3,144)		(10,963)
Other expense		0		0	0		0
Income (loss) from continuing operations before income tax		24		3,746	(44)		6,832
Total income (loss) from discontinued operations, net of tax		0		(3,746)	0		(6,832)
Net income (loss)		24		0	(44)		0
Total assets		(2,485)		(7,733)	(2,485)		(7,733)
Total capital expenditures		$ 0		$ 0	$ 0		$ 0
[1]	(1) Includes the Company's retained interest in Eureka Hunter Holdings which has a value of $345.3 million at June 30, 2015. As discussed in "Note 2 - Acquisitions, Divestitures, and Discontinued Operations", in June 2015 the Company adopted a plan to dispose of its equity method investment in Eureka Hunter Holdings, and has classified the related operations as discontinued operations and the investment as assets of discontinued operations for all periods presented.

CONDENSED CONSOLIDATING GUARA73

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (21,676)	$ (65,427)	$ (127,595)	$ (127,128)
ASSETS
Current assets	41,364		41,364		$ 125,391
Property and equipment (using successful efforts method of accounting)	1,125,401		1,125,401		1,175,658
Total assets	1,534,264	1,963,357	1,534,264	1,963,357	1,675,024
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	142,944		142,944		173,640
Shareholders’ equity	321,226		321,226		431,855
Total liabilities and shareholders’ equity	1,534,264		1,534,264		1,675,024
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(21,676)	(71,300)	(127,595)	(139,119)
ASSETS
Current assets	12,886		12,886		85,647
Intercompany accounts receivable	1,136,540		1,136,540		1,113,417
Property and equipment (using successful efforts method of accounting)	6,653		6,653		5,506
Investment in subsidiaries	(146,125)		(146,125)		(91,595)
Other assets	366,578		366,578		369,995
Total assets	1,376,532		1,376,532		1,482,970
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	25,755		25,755		25,347
Intercompany accounts payable	0		0		0
Long-term liabilities	929,551		929,551		925,767
Redeemable preferred stock	100,000		100,000		100,000
Shareholders’ equity	321,226		321,226		431,856
Total liabilities and shareholders’ equity	1,376,532		1,376,532		1,482,970
9.75 Percent Senior Notes Due May 15, 2020 | 100% Owned Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	11,469	14,171	(64,660)	(7,510)
ASSETS
Current assets	30,542		30,542		41,533
Property and equipment (using successful efforts method of accounting)	1,118,792		1,118,792		1,170,122
Investment in subsidiaries	92,314		92,314		94,134
Other assets	921		921		3,980
Total assets	1,242,569		1,242,569		1,309,769
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	119,623		119,623		148,109
Intercompany accounts payable	1,097,221		1,097,221		1,073,091
Long-term liabilities	40,543		40,543		43,762
Redeemable preferred stock	0		0		0
Shareholders’ equity	(14,818)		(14,818)		44,807
Total liabilities and shareholders’ equity	1,242,569		1,242,569		1,309,769
9.75 Percent Senior Notes Due May 15, 2020 | Non Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	191	(28,598)	357	(29,459)
ASSETS
Current assets	377		377		589
Property and equipment (using successful efforts method of accounting)					30
Total assets	377		377		619
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	9		9		2,567
Intercompany accounts payable	41,555		41,555		42,560
Long-term liabilities	0		0		0
Redeemable preferred stock	0		0		0
Shareholders’ equity	(41,187)		(41,187)		(44,508)
Total liabilities and shareholders’ equity	377		377		619
9.75 Percent Senior Notes Due May 15, 2020 | Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(11,660)	20,300	64,303	48,960
ASSETS
Current assets	(2,441)		(2,441)		(2,378)
Intercompany accounts receivable	(1,136,540)		(1,136,540)		(1,113,417)
Property and equipment (using successful efforts method of accounting)	(44)		(44)
Investment in subsidiaries	53,811		53,811		(2,539)
Total assets	(1,085,214)		(1,085,214)		(1,118,334)
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	(2,443)		(2,443)		(2,383)
Intercompany accounts payable	(1,138,776)		(1,138,776)		(1,115,651)
Long-term liabilities	0		0		0
Redeemable preferred stock	0		0		0
Shareholders’ equity	56,005		56,005		(300)
Total liabilities and shareholders’ equity	(1,085,214)		(1,085,214)		(1,118,334)
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation Consolidated
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(21,676)	$ (65,427)	(127,595)	$ (127,128)
ASSETS
Current assets	41,364		41,364		125,391
Intercompany accounts receivable	0		0		0
Property and equipment (using successful efforts method of accounting)	1,125,401		1,125,401		1,175,658
Investment in subsidiaries	0		0		0
Other assets	367,499		367,499		373,975
Total assets	1,534,264		1,534,264		1,675,024
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities	142,944		142,944		173,640
Intercompany accounts payable	0		0		0
Long-term liabilities	970,094		970,094		969,529
Redeemable preferred stock	100,000		100,000		100,000
Shareholders’ equity	321,226		321,226		431,855
Total liabilities and shareholders’ equity	$ 1,534,264		$ 1,534,264		$ 1,675,024

CONDENSED CONSOLIDATING GUARA74

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed consolidating statements of operations
Revenues	$ 39,526	$ 129,648	$ 94,922	$ 237,518
Income (loss) from continuing operations	(20,082)	(17,691)	(125,722)	(71,030)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0	0	2,390	0
Loss from discontinued operations, net of tax	(1,594)	(42,524)	(4,263)	(42,373)
Loss on disposal of discontinued operations, net of tax	0	(5,212)	0	(13,725)
Net income (loss)	(21,676)	(65,427)	(127,595)	(127,128)
Net loss attributed to non-controlling interests	0	780	0	889
Net income (loss) attributable to Magnum Hunter Resources Corporation	(21,676)	(64,647)	(127,595)	(126,239)
Dividends on preferred stock	(8,847)	(8,848)	(17,695)	(17,668)
Net income (loss) attributable to common shareholders	(30,523)	(79,977)	(145,290)	(156,465)
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation
Condensed consolidating statements of operations
Revenues	12	6	13	114
Expenses	31,922	36,512	63,208	71,305
Loss from continuing operations before equity in net income of subsidiary	(31,910)	(36,506)	(63,195)	(71,191)
Equity in net income of subsidiary	11,828	(19,314)	(62,527)	(48,129)
Income (loss) from continuing operations	(20,082)	(55,820)	(125,722)	(119,320)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0		2,390
Loss from discontinued operations, net of tax	(1,594)	0	(4,263)	0
Loss on disposal of discontinued operations, net of tax		(15,480)		(19,799)
Net income (loss)	(21,676)	(71,300)	(127,595)	(139,119)
Net loss attributed to non-controlling interests		0		0
Net income (loss) attributable to Magnum Hunter Resources Corporation		(71,300)		(139,119)
Dividends on preferred stock	(8,847)	(8,848)	(17,695)	(17,668)
Dividends on preferred stock of discontinued operations		0		0
Net income (loss) attributable to common shareholders	(30,523)	(80,148)	(145,290)	(156,787)
9.75 Percent Senior Notes Due May 15, 2020 | 100% Owned Guarantor Subsidiaries
Condensed consolidating statements of operations
Revenues	41,214	131,208	98,210	241,089
Expenses	29,601	116,053	161,050	247,770
Loss from continuing operations before equity in net income of subsidiary	11,613	15,155	(62,840)	(6,681)
Equity in net income of subsidiary	(144)	(984)	(1,820)	(829)
Income (loss) from continuing operations	11,469	14,171	(64,660)	(7,510)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0		0
Loss from discontinued operations, net of tax	0	0	0	0
Loss on disposal of discontinued operations, net of tax		0		0
Net income (loss)	11,469	14,171	(64,660)	(7,510)
Net loss attributed to non-controlling interests		0		0
Net income (loss) attributable to Magnum Hunter Resources Corporation		14,171		(7,510)
Dividends on preferred stock	0	0	0	0
Dividends on preferred stock of discontinued operations		0		0
Net income (loss) attributable to common shareholders	11,469	14,171	(64,660)	(7,510)
9.75 Percent Senior Notes Due May 15, 2020 | Non Guarantor Subsidiaries
Condensed consolidating statements of operations
Revenues	233	274	761	445
Expenses	42	362	404	437
Loss from continuing operations before equity in net income of subsidiary	191	(88)	357	8
Equity in net income of subsidiary	0	0	0	0
Income (loss) from continuing operations	191	(88)	357	8
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0		0
Loss from discontinued operations, net of tax	0	(38,778)	0	(35,541)
Loss on disposal of discontinued operations, net of tax		10,268		6,074
Net income (loss)	191	(28,598)	357	(29,459)
Net loss attributed to non-controlling interests		0		0
Net income (loss) attributable to Magnum Hunter Resources Corporation		(28,598)		(29,459)
Dividends on preferred stock	0	0	0	0
Dividends on preferred stock of discontinued operations		(6,482)		(12,558)
Net income (loss) attributable to common shareholders	191	(35,080)	357	(42,017)
9.75 Percent Senior Notes Due May 15, 2020 | Eliminations
Condensed consolidating statements of operations
Revenues	(1,933)	(1,840)	(4,062)	(4,130)
Expenses	(1,957)	(5,588)	(4,018)	(10,964)
Loss from continuing operations before equity in net income of subsidiary	24	3,748	(44)	6,834
Equity in net income of subsidiary	(11,684)	20,298	64,347	48,958
Income (loss) from continuing operations	(11,660)	24,046	64,303	55,792
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0		0
Loss from discontinued operations, net of tax	0	(3,746)	0	(6,832)
Loss on disposal of discontinued operations, net of tax		0		0
Net income (loss)	(11,660)	20,300	64,303	48,960
Net loss attributed to non-controlling interests		780		889
Net income (loss) attributable to Magnum Hunter Resources Corporation		21,080		49,849
Dividends on preferred stock	0	0	0	0
Dividends on preferred stock of discontinued operations		0		0
Net income (loss) attributable to common shareholders	(11,660)	21,080	64,303	49,849
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation Consolidated
Condensed consolidating statements of operations
Revenues	39,526	129,648	94,922	237,518
Expenses	59,608	147,339	220,644	308,548
Loss from continuing operations before equity in net income of subsidiary	(20,082)	(17,691)	(125,722)	(71,030)
Equity in net income of subsidiary	0	0	0	0
Income (loss) from continuing operations	(20,082)	(17,691)	(125,722)	(71,030)
Gain on dilution of interest in Eureka Hunter Holdings, LLC, net of tax	0		2,390
Loss from discontinued operations, net of tax	(1,594)	(42,524)	(4,263)	(42,373)
Loss on disposal of discontinued operations, net of tax		(5,212)		(13,725)
Net income (loss)	(21,676)	(65,427)	(127,595)	(127,128)
Net loss attributed to non-controlling interests		780		889
Net income (loss) attributable to Magnum Hunter Resources Corporation		(64,647)		(126,239)
Dividends on preferred stock	(8,847)	(8,848)	(17,695)	(17,668)
Dividends on preferred stock of discontinued operations		(6,482)		(12,558)
Net income (loss) attributable to common shareholders	$ (30,523)	$ (79,977)	$ (145,290)	$ (156,465)

CONDENSED CONSOLIDATING GUARA75

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (21,676)	$ (65,427)	$ (127,595)	$ (127,128)
Foreign currency translation gain	(13)	1,130	102	(1,218)
Unrealized loss on available for sale securities	309	(549)	(1,099)	(605)
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	20,741	0	20,741
COMPREHENSIVE LOSS	(21,380)	(44,105)	(119,600)	(108,210)
Comprehensive loss attributable to non-controlling interests	0	780	0	889
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(21,380)	(43,325)	(119,600)	(107,321)
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(21,676)	(71,300)	(127,595)	(139,119)
Foreign currency translation gain	0	0	0	0
Unrealized loss on available for sale securities	0	0	0	0
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	20,741	0	20,741
COMPREHENSIVE LOSS	(21,676)	(50,559)	(127,595)	(118,378)
Comprehensive loss attributable to non-controlling interests		0		0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(50,559)		(118,378)
9.75 Percent Senior Notes Due May 15, 2020 | 100% Owned Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	11,469	14,171	(64,660)	(7,510)
Foreign currency translation gain	(13)	0	102	0
Unrealized loss on available for sale securities	309	(549)	(1,099)	(605)
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	0	8,992	0
COMPREHENSIVE LOSS	11,765	13,622	(56,665)	(8,115)
Comprehensive loss attributable to non-controlling interests		0		0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		13,622		(8,115)
9.75 Percent Senior Notes Due May 15, 2020 | Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	191	(28,598)	357	(29,459)
Foreign currency translation gain	0	1,130	0	(1,218)
Unrealized loss on available for sale securities	0	0	0	0
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	0	0	0
COMPREHENSIVE LOSS	191	(27,468)	357	(30,677)
Comprehensive loss attributable to non-controlling interests		0		0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		(27,468)		(30,677)
9.75 Percent Senior Notes Due May 15, 2020 | Eliminations
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(11,660)	20,300	$ 64,303	48,960
Foreign currency translation gain	0	0		0
Unrealized loss on available for sale securities	0	0	$ 0	0
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	0	0	0
COMPREHENSIVE LOSS	(11,660)	20,300	64,303	48,960
Comprehensive loss attributable to non-controlling interests		780		889
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		21,080		49,849
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation Consolidated
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	(21,676)	(65,427)	(127,595)	(127,128)
Foreign currency translation gain	(13)	1,130	102	(1,218)
Unrealized loss on available for sale securities	309	(549)	(1,099)	(605)
Amounts reclassified from accumulated other comprehensive income upon sale of Williston Hunter Canada, Inc.	0	20,741	8,992	20,741
COMPREHENSIVE LOSS	$ (21,380)	(44,105)	$ (119,600)	(108,210)
Comprehensive loss attributable to non-controlling interests		780		889
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		$ (43,325)		$ (107,321)

CONDENSED CONSOLIDATING GUARA76

CONDENSED CONSOLIDATING GUARANTOR FINANCIAL STATEMENTS (Details 4) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities	$ 51,960	$ 18,747
Cash flows from investing activities	(99,704)	(185,372)
Cash flows from financing activities	3,358	133,991
Effect of changes in exchange rate on cash	24	41
Net increase (decrease) in cash	(44,362)	(32,593)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	53,180	41,713
CASH AND CASH EQUIVALENTS, END OF PERIOD	8,818	9,120
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities	(57,824)	(192,121)
Cash flows from investing activities	(1,283)	49,572
Cash flows from financing activities	5,898	111,324
Net increase (decrease) in cash	(53,209)	(31,225)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	64,165	47,895
CASH AND CASH EQUIVALENTS, END OF PERIOD	10,956	16,670
9.75 Percent Senior Notes Due May 15, 2020 | 100% Owned Guarantor Subsidiaries
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities	109,933	182,620
Cash flows from investing activities	(98,570)	(177,365)
Cash flows from financing activities	(2,540)	3,038
Effect of changes in exchange rate on cash	24
Net increase (decrease) in cash	8,847	8,293
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	(10,985)	(17,651)
CASH AND CASH EQUIVALENTS, END OF PERIOD	(2,138)	(9,358)
9.75 Percent Senior Notes Due May 15, 2020 | Non Guarantor Subsidiaries
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities		28,248
Cash flows from investing activities		(57,579)
Cash flows from financing activities		19,629
Effect of changes in exchange rate on cash		41
Net increase (decrease) in cash		(9,661)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		11,469
CASH AND CASH EQUIVALENTS, END OF PERIOD		1,808
9.75 Percent Senior Notes Due May 15, 2020 | Eliminations
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities	(149)
Cash flows from investing activities	149
9.75 Percent Senior Notes Due May 15, 2020 | Magnum Hunter Resources Corporation Consolidated
Schedule of condensed consolidating statements of cash flows
Cash flow from operating activities	51,960	18,747
Cash flows from investing activities	(99,704)	(185,372)
Cash flows from financing activities	3,358	133,991
Effect of changes in exchange rate on cash	24	41
Net increase (decrease) in cash	(44,362)	(32,593)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	53,180	41,713
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 8,818	$ 9,120

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) MMBTU in Thousands, $ in Thousands	Aug. 07, 2015USD ($)shares	Aug. 31, 2015$ / Barrelbbl	Aug. 07, 2015USD ($)shares	Jul. 31, 2015MMBTU$ / MillionsofBTU$ / Barrelbbl	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Dec. 31, 2014shares
Subsequent Event [Line Items]
Common stock, shares issued | shares					213,963,234		201,420,701
Net proceeds from sales of common shares					$ 21,829	$ 178,575
Costless Collar | Commodity | Natural Gas | Subsequent Event
Subsequent Event [Line Items]
Notional amount of derivative (MMbtu per day) | MMBTU				80
Average floor price | $ / MillionsofBTU				2.66
Average ceiling price | $ / MillionsofBTU				3.15
Costless Collar | Commodity | Crude Oil | Subsequent Event
Subsequent Event [Line Items]
Average floor price | $ / Barrel				45
Average ceiling price | $ / Barrel				48
Volume barrels | bbl				1,500
Swap [Member] | Commodity | Crude Oil | Subsequent Event
Subsequent Event [Line Items]
Volume barrels | bbl		1,500
Price per Bbl | $ / Barrel		44.65
Universal Shelf Registration Statement Form S3
Subsequent Event [Line Items]
Common stock, shares issued | shares					11,441,596
Net proceeds from sales of common shares					$ 21,800
Sales commissions					$ 600
Universal Shelf Registration Statement Form S3 | Subsequent Event
Subsequent Event [Line Items]
Common stock, shares issued | shares	7,720,495		7,720,495
Net proceeds from sales of common shares	$ 6,000		$ 9,300
Sales commissions			$ 200