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Stock Market & Financial Investment News

News Breaks
April 12, 2013
16:21 EDTMHRMagnum Hunter midstream subsidiary experiences flash fire
Magnum Hunter Resources (MHR) announced that the company's midstream subsidiary, Eureka Hunter Pipeline, experienced a flash fire yesterday evening at a "pig receiving station" located in Tyler County, West Virginia. The initial reports indicate that the fire was fueled by natural gas liquids that ignited in tanks during pipeline pigging operations, but was limited to above ground facilities. The pipeline did not rupture and, according to initial inspection, was completely unaffected by the fire. The fire was extinguished by local responding fire department personnel. As a safety precaution, a portion of the Eureka Hunter pipeline system has been shut-in which has in turn affected approximately 2,170 BOEPD of production from wells owned and operated by Triad Hunter, a wholly-owned subsidiary of Magnum Hunter, in the region. These wells will be turned back to production upon finishing the safety inspection and receiving approval of the investigation authorities. Three people employed by third party contractors were injured as a result of the accident and taken to hospitals. The extent of all of their injuries is unknown at this time. The company has notified the proper authorities and is investigating the cause of the accident. Additional details will be released as they become available.
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April 22, 2014
07:19 EDTMHRMagnum Hunter to sell remaining Canadian assets for approximately $67.5M
Magnum Hunter announced that the company has executed a definitive agreement with a Canadian private company to sell 100% of its ownership interest in the company's Canadian subsidiary, whose assets consist primarily of oil and gas properties located in the Tableland Field in Saskatchewan, Canada, for a purchase price of $67.5M, subject to customary purchase price adjustments with an effective date of March 1. The transaction is expected to close on or about May 12. The closing is subject to the satisfaction of customary closing conditions. As announced earlier, Magnum Hunter previously sold primarily all its Alberta, Canada oil and gas properties in April. The company's sale of its Canadian subsidiary will complete Magnum Hunter's goal of exiting and divesting all of the company's Canadian assets. The assets sold include 52,520 gross acres located in Saskatchewan, Canada with 84 gross producing wells and approximately 630 Boe per day of current net production. The Company intends to use the net proceeds from this sale to pay down outstanding borrowings under its Senior Revolving Credit Facility and for general corporate purposes.
April 17, 2014
09:59 EDTMHROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AcelRx (ACRX) initiated with a Buy at Canaccord... Acorda Therapeutics (ACOR) initiated with a Hold at Canaccord... Alcobra (ADHD) initiated with a Buy at Canaccord... Benefitfocus (BNFT) initiated with a Market Perform at William Blair... Cameron (CAM) initiated with a Buy at Gabelli... Covanta (CVA) initiated with an Outperform at Macquarie... Foundation Medicine (FMI) initiated with a Market Perform at William Blair... Golub Capital (GBDC) initiated with an Outperform at Raymond James... Hanmi Financial (HAFC) initiated with an Outperform at Raymond James... Jazz Pharmaceuticals (JAZZ) initiated with a Buy at Canaccord... Kronos Worldwide (KRO) initiated with a Reduce at SunTrust... Magnum Hunter (MHR) initiated with a Hold at Maxim... Norwegian Cruise Line (NCLH) initiated with a Buy at Longbow... Plum Creek Timber (PCL) initiated with an Outperform at RBC Capital... RF Micro Devices (RFMD) initiated with a Market Perform at BMO Capital... SanDisk (SNDK) assumed with an Overweight at Piper Jaffray... Skyworks (SWKS) initiated with a Market Perform at BMO Capital... TransEnterix (TRXC) initiated with a Buy at Sterne Agee... TriQuint (TQNT) initiated with a Market Perform at BMO Capital... WebMD (WBMD) initiated with an Outperform at William Blair.
08:09 EDTMHRMagnum Hunter initiated with a Hold at Maxim
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