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Stock Market & Financial Investment News

News Breaks
May 29, 2014
17:14 EDTMHRMagnum Hunter settles lawsuit filed by Dux Petroleum
Magnum Hunter Resources is filing this Current Report on Form 8-K to report that, on May 28, the company and its wholly-owned subsidiary, Triad Hunter, settled the lawsuit filed against them and certain other persons by Dux Petroleum. The other defendants in the Lawsuit, which included MNW Energy, have also settled with Dux. As part of the settlement, Dux has released the company and Triad from all claims asserted or that could have been asserted in the Lawsuit. As part of the settlement of the Lawsuit, and in order to avoid the continued expense and distraction of the Lawsuit, the company and Triad have agreed to collectively pay Dux the aggregate amount of $500,000, payable in three equal installments over the next three months. The other principal defendants in the Lawsuit have also agreed, in connection with the settlement of the Lawsuit, to collectively pay Dux an additional aggregate amount of $500,000, payable in similar installments. In view of the settlement of the Lawsuit, Triad intends to immediately resume closings of lease acquisitions from MNW under the APA, in accordance with the terms, provisions and conditions of the APA and the terms of the settlement agreement. Triad anticipates that the first such closing will occur on or before mid-June 2014.
News For MHR From The Last 14 Days
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March 2, 2015
09:22 EDTMHROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amira Nature Foods (ANFI), up 8.6%... Stratasys (SSYS), up 3.6%... Magnum Hunter (MHR), up 3%. ALSO HIGHER: Mavenir Systems (MVNR), up 19.1% after Mitel (MITL) agrees to acquire Mavenir Systems for $560M... Athersys (ATHX), up 19.7% following license agreement and collaboration with Chugai... OHR Pharmaceutical (OHRP), up 11.4% following additional positive data from OHR-102 IMPACT study... NXP Semiconductors (NXPI), up 14% following merger agreement with Freescale Semiconductor (FSL). Freescale Semiconductor is up 9.1%... Mast Therapeutics (MSTX), up 7.7% following positive results from Vepoloxamer study. DOWN AFTER EARNINGS: JinkoSolar (JKS), down 4.7%... Scorpio Tankers (STNG), down 4.5%. ALSO LOWER: Lumber Liquidators (LL), down 24.2% following CBS' 60 Minutes says that the company is linked to health and safety violations... Aruba Networks (ARUN), down 1.7% after HP (HPQ) confirms deal to acquire Aruba Networks for $24.67... Pacira Pharmaceuticals (PCRX), down 14.4% after receiving complete response letter from FDA for sNDA in use of Exparel... 500.com (WBAI), down 14.4% after announcing that temporary suspension will adversely impact financial results.
07:13 EDTMHRMagnum Hunter to reevaluate CapEx budget on quarterly basis
Magnum Hunter's upstream capital expenditure budget forFY15 is $100M, but it intends to reevaluate this budget on a quarterly basis. The company's upstream capital expenditure budget may be reduced or increased depending on realized prices for our natural gas, natural gas liquids and oil, investment opportunities, continued effective implementation of cost reduction initiatives, including reduction of oil and gas field service costs, and funding allocations. The company has allocated approximately $70M of its upstream capital expenditure budget to its Marcellus Shale and Utica Shale exploration and development drilling program in West Virginia and Ohio, approximately $10M to its properties in the Williston Basin/Bakken Shale in North Dakota and approximately $20M for additional leasehold acreage acquisitions in the Marcellus Shale and Utica Shale plays.
07:12 EDTMHRMagnum Hunter reports Q4 adjusted EPS (24c), consensus (21c)
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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.

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