Yesterday, 10:18 PM
- Magnum Hunter Resources (NYSE:MHR) says it is suspending its dividends on a range of preferred stock and hires a financial adviser to explore strategic alternatives.
- MHR says it hired PJT Partners, a financial adviser known for restructuring work, and the Kirkland & Ellis as legal adviser.
- Cash-strapped MHR operates in the Marcellus and Utica shale fields of Ohio and West Virginia.
Fri, Sep. 4, 5:27 PM| Fri, Sep. 4, 5:27 PM | 31 Comments
Mon, Aug. 24, 12:44 PM
- Energy Transfer Equity (ETE -0.5%) is bidding for Magnum Hunter Resources' (MHR +6.9%) 46% stake in the Eureka Hunter Pipeline, a deal that could be valued at as much as $600M, Bloomberg reports.
- MHR, which announced in June its plan to sell its Eureka stake, also is said to have reached out to Crestwood Midstream Partners and Summit Midstream Partners to gauge their interest in the pipeline, which carries natural gas between Ohio and West Virginia.
- ETE also is chasing a potential deal with Williams Cos.
Tue, Aug. 11, 2:32 PM
- Magnum Hunter Resources (MHR -13.1%) discloses it has agreed to a joint venture worth up to $430M to farm out 9,500 acres of its undeveloped acreage in the Utica shale play to an unnamed P-E fund.
- MHR will receive a small cash injection, and the P-E firm will retain the rights to drill up to $400M worth of wells on that acreage; once the P-E company generates a 12% internal rate of return, the wells would be returned and any residual production would go to MHR.
- MHR has 200K acres under lease in the Marcellus and Utica shale region, but has not drilled a well since January in order to preserve capital.
Tue, Aug. 11, 9:16 AM
Fri, Aug. 7, 7:05 AM
Thu, Aug. 6, 5:30 PM
Wed, Jul. 15, 12:45 PM
Tue, Jul. 14, 12:45 PM
Tue, Jul. 7, 12:46 PM
Mon, Jul. 6, 11:33 AM
- Magnum Hunter Resources (MHR +1.9%) says throughput volumes on its Eureka Hunter gas gathering pipeline system located in West Virginia and Ohio have reached a new record high of more than 700K MMBtu/day.
- MHR also says it believes a sale of all its equity ownership in Eureka Hunter could generate up to $600M-$700M in gross cash proceeds.
Tue, Jun. 30, 12:47 PM
Thu, Jun. 25, 9:17 AM
Thu, Jun. 25, 8:54 AM
- Magnum Hunter Resources (NYSE:MHR) +17.1% premarket after disclosing it intends to pursue the sale of 100% of its current equity ownership interest in Eureka Hunter Holdings.
- MHR currently owns ~45.5% of the equity in Eureka Hunter, and believes that a sale of all of its equity ownership interest could generate up to $600M-$700M in gross cash proceeds to the company.
- MHR says the potential transaction would allow it to restructure its balance sheet and dramatically improve its current liquidity position.
Tue, Jun. 23, 12:46 PM
Mon, Jun. 22, 12:45 PM
MHR vs. ETF Alternatives
Magnum Hunter Resources Corporation is an oil and exploration and production company. The Company is engaged in exploration, acquisition, development and production of crude oil, natural gas and NGLs resources in the United States and Canada.
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