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Magnum Hunter Resources (MHR) +2.4% premarket after announcing "significant" production results...

Magnum Hunter Resources (MHR) +2.4% premarket after announcing "significant" production results from two new company-operated Eagle Ford Shale wells. Rhino Hunter #1 is producing ~2,033 bbl/day of oil and 1,113 mcf of natural gas, and Zebra Hunter #1 is producing ~1,995 bbl/day of oil and 898 mcf of natural gas.
Comments (4)
  • The great irony is MHR's crown jewel Eagle Ford assets has the highest returns is on the block to shore up the balance sheet. Still asset rich...http://bit.ly/OXe3Be
    28 Dec 2012, 08:57 AM Reply Like
  • Gary Evans (CEO) opined in the company news release announcing these wells, "Our net daily production in the Eagle Ford is currently over 4,100 boe/d. With these consistent results, and the significant reserve additions we are seeing from new wells that are now exceeding 500 thousand barrels of oil equivalent per well, our Management and Board may very well have second thoughts about our decision to possibly completely divest these properties at this time."

     

    This release will either raise the price appreciably or cause them to pull the play off the market. Hopefully, the latter.
    28 Dec 2012, 10:49 AM Reply Like
  • I wonder if the comments about not selling the EF are just part of the negotiations...
    28 Dec 2012, 10:46 AM Reply Like
  • Just an investor seeking information regarding MHR. Have held for sometime. Patience will win out as they have done what they said they would be doing to position a sale of MHR in its entirety.
    28 Dec 2012, 01:46 PM Reply Like
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