Magnum Hunter +3% premarket as CEO pleads his case to Cramer

|About: Magnum Hunter Resources Corp. (MHRCQ)|By:, SA News Editor

Magnum Hunter Resources (NYSE:MHR+3.1% premarket after Jim Cramer hosted CEO Gary Evans, who said he has not been bullish on oil for almost two years, and as a result, 60% of the company's production comes from natural gas on the way to surpass 90% by year-end.

MHR owns attractive assets in Marcellus, Utica and Bakken shales with rapid production growth, but it also has one of the most debt-laden balance sheets in the industry.

MHR shares have shed 46% YTD and hit a 52-week low of $3.70 yesterday.

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