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Stock Market & Financial Investment News

News Breaks
April 16, 2013
07:09 EDTMHRMagnum Hunter says daily production approaching 20K bpd
Magnum Hunter Resources announced an operational update on each of the company's upstream unconventional resource plays for Q1 and provided an operational update for the company's midstream division, Eureka Hunter Pipeline. The company said, "We are expeditiously proceeding ahead with the closing of the sale of our Eagle Ford Division to Penn Virginia as previously announced. We anticipate financial closing prior to the end of April 2013...Companywide daily production is quickly approaching 20,000 Boe per day. We will not be lowering our production guidance for the year even after losing approximately 3,200 Boe per day later this month due to the Eagle Ford sale. With the imminent sale and closing of the Eagle Ford Division, we will be reallocating the capital budget previously earmarked for this Division to both the Appalachian and Williston Basin Divisions and maintain an overall $300M upstream capital expenditure budget for the year. Our liquidity position will significantly improve at the end of this month with the expectation of completely paying off our existing Senior Revolving Credit Facility at that time...With our midstream division, we are in a unique position to gather and process new discoveries in this region much more expeditiously than our competition."
News For MHR From The Last 14 Days
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January 26, 2015
16:26 EDTMHRMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
January 23, 2015
10:02 EDTMHROn the Fly: Analyst Downgrade Summary
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06:58 EDTMHRMagnum Hunter downgraded to Neutral from Outperform at Credit Suisse
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06:22 EDTMHRMagnum Hunter to host conference call
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January 22, 2015
10:03 EDTMHROn the Fly: Analyst Downgrade Summary
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07:52 EDTMHRMagnum Hunter downgraded at Stifel
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06:10 EDTMHRMagnum Hunter downgraded to Hold from Buy at Stifel
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January 21, 2015
18:15 EDTMHRMagnum Hunter reports year end 2014 proved reserves of 83.8 MMBoe
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January 20, 2015
09:11 EDTMHROn The Fly: Pre-market Movers
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08:40 EDTMHRMagnum Hunter downgraded to Neutral from Buy at SunTrust
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