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News Breaks | | | | September 26, 2012 | | 08:12 EDT |  | MHR | Magnum Hunter Resources provides update on Appalachia production curtailments
Magnum Hunter Resources provided an update on its current production in the Appalachia region. As previously reported by the company, the company's production was significantly impacted in late June and early July due to a severe thunderstorm in the area that knocked out electric service. In early August, full power was restored to the region allowing the company to begin bringing its production in the region back online. Although the company has been successful in responding to well shut-ins created by the power outages, production remains substantially curtailed due to the lack of available processing capacity at Dominion Transmission's Hastings processing facility. The company estimates that 9.5 million cubic feet equivalent per day, or mmcfepd, of its production is currently being curtailed, and doesn't expect this production to come back online until MarkWest's Mobley processing facility is operational, which the company anticipates will occur sometime in mid-November. Magnum Hunter has also shut-in approximately 1.7 mmcfepd related to approximately 400 producing natural gas wells located in Kentucky. This production was shut-in by the company at the beginning of Q3 of 2012 because production of the wells would not have been economical. Since both the curtailed and shut-in production in the Appalachia region is predominately natural gas, the impact on the company's cash flow for Q3 has been minimal. | |
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News For MHR From The Last 14 Days Check below for free stories on MHR the last two weeks. |
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| May 14, 2013 | | 07:16 EDT |  | MHR | Citigroup to host a conference
2013 Global Energy & Utilities Conference is being held in Boston on May 14-16. | | | May 8, 2013 | | 11:41 EDT |  | MHR | High option volume stocks: MHR FIO DSS NBL WBMD
 Subscribe for More Information | | | May 7, 2013 | | 08:28 EDT | | MHR | Magnum Hunter subsidiary announces acquisition of new drilling rig for the Utica
Magnum Hunter announced that the company's wholly-owned subsidiary, Alpha Hunter Drilling has taken possession of a new Schramm T500XD robotic drilling rig. The company plans to utilize the Schramm T500XD drilling rig to drill exclusively company owned wells planned in the Utica formation located in Southeastern Ohio for the next three years. With the addition of this new drilling rig, Alpha Hunter's fleet has now grown to five rigs. | |
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