David Edwards
Long/short equity

Magnum Hunter's Hidden Billion Dollar Assets

September 12, 2013

Magnum Hunter Resources Corporation

Magnum Hunter (MHR) is a mid-tier exploration and production company operating in three exciting unconventional domestic resource plays - the Marcellus, the Utica, and the Bakken. MHR represents a unique value investment with short-to-medium term catalysts via the divestiture of non-core assets, which currently receive little to no recognition in the market.

MHR's shares collapsed in early 2013 after the company fell into noncompliance with regard to financial reporting. This period of noncompliance followed a hasty bout of acquisitions in 2012 that undermined the company's internal accounting controls. Although the company was forced to fire its auditor, MHR has once again returned to world of reporting timeliness. It has since completed...

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