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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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February 20, 2015
07:01 EDTMHRMagnum Hunter completes testing of new wells on WVDNR Pad
Magnum Hunter announced that the company's four new 100% owned WVDNR Pad wells located in Wetzel County, West Virginia have all been recently placed on production after several weeks of testing. Currently, all seven of the company's 100% owned Marcellus Shale wells, which included three previously shut-in wells, on the WVDNR Pad are flowing to sales. The WVDNR Pad is currently producing approximately 35 MMcfe per day.
February 17, 2015
07:18 EDTMHRMagnum Hunter approves $100M upstream capital expenditure budget for FY15
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