Seeking Alpha

Magnum Hunter +11% after solid Q3 results

  • Magnum Hunter (MHR +10.8%) shares are strong after solid Q3 results, including an 80% Y/Y rise in revenues due to production increases and higher average realized commodity prices.
  • Oil and gas production rose 38.5% Y/Y to 10,049 boe/day, although continued troubles getting natural gas and natural gas liquids processed weighed on totals; without production shut-ins at its Appalachian division caused by the complete shut-down of MarkWest's Mobley gas processing facility, Q3 production would have been more than 30% higher.
  • Oil and natural gas liquids production has increased to 54% of production from 42%, which is helping to improve margins and cash flows.
Comments (4)
  • All the Utica producers cited continuing midstream issues. Makes $MWE look like a winner, even if some of the delays are their fault. Also makes the midstream inside $MHR look even more valuable. I wonder if they'd consider combining their midstream with those inside $AR and $GPOR, create their own MLP focusing only on that region?
    8 Nov 2013, 03:54 PM Reply Like
  • Congrats shareholders!

     

    Been on my watch list but never did jump in.
    9 Nov 2013, 09:18 AM Reply Like
  • @bgold1955. Better late than never.But trust me this share at times, is like footprints on the ceiling.Got any recommendations, for this Brit investor who likes American growth stocks, particularly energy stocks.
    9 Nov 2013, 07:52 PM Reply Like
  • KOG or TPLM are names to look at. Still like MHR for another double, at least, over the next 18 months
    10 Nov 2013, 02:46 AM Reply Like
DJIA (DIA) S&P 500 (SPY)