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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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July 24, 2015
08:19 EDTMHRMagnum Hunter announces dismissal of last remaining stockholder lawsuit
Magnum Hunter announced that the 125th District Court of Harris County, Texas dismissed the last remaining stockholder derivative case against certain of the company's officers and directors filed alleging certain breaches of fiduciary duties and other matters in connection with the dismissal by the company of its independent registered public accounting firm in spring 2013. All of the shareholder lawsuits relating to these allegations have now been dismissed, and no cash settlements of any form have been paid by the company or any of the company's insurance carriers in connection with these lawsuits.
July 17, 2015
17:29 EDTMHRRelational Investors cuts stake in Magnum Hunter to 6.26% from 8.5%

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