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Stock Market & Financial Investment News

News Breaks
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.
News For MHR From The Last 14 Days
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May 18, 2015
07:57 EDTMHRTopeka highlights potential E&P takeover targets
Topeka continues to believe that the E&P companies most likely to be acquired are situated in the core areas in the Permian, Eagle Ford, Bakken, Niobrara and Marcellus/Utica. The firm highlights Cabot Oil & Gas (COG), Energen (EGN), Diamondback Energy (FANG), Gulfport Energy (GPOR), Laredo Petroleum (LPI), Magnum Hunter (MHR) and Oasis Petroleum (OAS) as potential takeout targets. It keeps Buy ratings on all the stocks named.
May 14, 2015
10:00 EDTMHROn The Fly: Analyst Downgrade Summary
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07:27 EDTMHRMagnum Hunter downgraded to Hold from Accumulate at KLR Group
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May 11, 2015
07:10 EDTMHRMagnum Hunter reports Q1 adjusted EPS (38c), consensus (32c)
Reports Q1 revenue $55.4M, may not compare to consensus $72.37M. Proved reserves increased 73% in Q1 to 869.2 Bcfe. Reported production of 163.6 MMcfe/d for Q1, a 66% increase over the prior year comparable quarter.

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