Seeking Alpha

Magnum Hunter (MHR +4.6%) says it plans to drill a minimum of four Utica test wells in Ohio this...

Magnum Hunter (MHR +4.6%) says it plans to drill a minimum of four Utica test wells in Ohio this year, with further development on the leasehold position expected later in the year. The first well will be a vertical pilot for extensive logging and coring, then plans are to plug back and drill a ~6K-ft. lateral in the Point Pleasant portion of the Utica.
Comments (8)
  • That's up from the 2 they planned to drill about a month ago. Could be a positive sign about the value they are going to realize from a sale of the Eagle Ford assets.
    22 Jan 2013, 03:59 PM Reply Like
  • Gary Evans made a statement about reconsidering wheither to sell the Eagle Ford after the last two wells came in over 2k bbls a day. I hope they keep it, but trust Evans and board are on top of whats best.


    I've been with these guys since Petro Resources sold for 20 cents a share. And have been buying dips with every spare buck I can come up with.
    23 Jan 2013, 04:49 AM Reply Like
  • Why do you think they are going to sell Eagle Ford ?
    23 Jan 2013, 06:03 AM Reply Like
  • I listen to every presentation and confrence call and read every thing I can about MHR.
    23 Jan 2013, 09:21 AM Reply Like
  • Hart, they have been shopping the EF assets for a little while, they discuss it in the conference calls. Sailor do you think its an honest reconsidering of selling, or just a negotiating tactic?
    23 Jan 2013, 05:51 PM Reply Like
  • Oil up above $96...Dow at record highs and going higher..MHR follows these rather steadily, but, clearly, their real estate makes me as secure as one can be in this game. $5.25 is a no brainer. But all will be for not, if this Dow dives.
    23 Jan 2013, 06:34 AM Reply Like
  • OK, I worked on the fringes of the Oil Companies in spill response and saw they were good companies. I had sold some land coming out of a divorce so I retired and had cash when the o8,o9 knock down came. First I bought TSO at 6 dollars then sold at 11 (its now 42) and PetroBras and Shell. Took the profit and I started buying "penny stocks" . I made money on CABN and LEI and LEE, CDE and HL. Then went back to oil stock. I saw KOG selling for 25 cents (+ or -) and it didn't make sense when it had once sold for 7 dollars. I saw it as my chance to get a position in the Bakkan. About that time I bought Petro Resources for about the same and then Gary Evans took it over and it jumped to 36 cents. Nice! I've consolidated my wins and sold my loses. Now I hold GHR and MHR, I read and listen to every word Gary Evans has to say. They have a great website with lots of info. My DCA into MHR is 3.96 but most if it is profit from other oil companies.


    My investment strategy is "own things that own things that dig things out of the ground"


    23 Jan 2013, 09:13 AM Reply Like
  • Whats GHR?
    23 Jan 2013, 05:53 PM Reply Like
DJIA (DIA) S&P 500 (SPY)