Current State of Magnum Hunter

Starting this thread to post info related to Magnum Hunter and its various business components.  First post is Triad Hunter opening office in Marietta, Ohio.  Definately Magnum Hunter is spending in Monroe, Noble and Washington counties in Ohio as well as Tyler and other WV counties.

http://www.mariettatimes.com/page/content.detail/id/549789/Triad-op...

 

Views: 41733

▶ Reply to This

Replies to This Discussion

Permalink Reply by Markus on April 18, 2013 at 7:15am

Not sure he meant that kind of cluster.....

Permalink Reply by searcherone on April 18, 2013 at 8:46am

LOL    I got it!  Nothing like the urban dictionary!

Permalink Reply by Seeker on April 18, 2013 at 8:50am

This is a link to a transcript of the Magnum Hunter special call regarding the 8-K filing and the change of accounting firms.

http://seekingalpha.com/article/1351771-magnum-hunter-resources-cor...

It would appear that the new accounting firm BDO may have several advantages over the previous accounting firm PwC for an oil and gas company the size of Magnum Hunter.

1.  PwC is a huge firm with many layers of management. The PwC accountants evidently had to run everything through headquarters. BDO is a large firm but the 3 senior partners assigned to the Magnum Hunter account are based in Texas and do not have to run things through headquarters.

2.  The 3 senior partners each have 25 - 30 years of experience in the oil and gas business. The unstated suggestion is that the PwC accountants did not.

3.  Hunter Magnum was a relatively small client for PwC but a more significant client for BDO.

Just some initial impressions.

Permalink Reply by searcherone on April 18, 2013 at 3:42am

http://www.magnumhunterresources.com/Magnum_Hunter_Resources.pdf

Here is the visual presentation from the IPAA Conference, proving for me pics and charts give info.

p.14 shows a new well pad for Monroe Co, Lee Twp  called the Price Pad;  very close to the Stalder Pad;

also shows diagram of where Eureka Hunter pipeline is going in riverfront area of Monroe Co. as well as showing the recently acquired Virco acerage

I also gleaned info on thickness of Utica from p.21;  it appears where the Stalder and Price pads are utica is 275 ft. thick

 

Yesterday afternoon MH had a conference call regarding the dismissal of Price Waterhouse.  Anyone know anything about that?

Permalink Reply by searcherone on April 30, 2013 at 6:30pm

Green Hunter has a newly designed water holding tank headed for southeast Ohio.  Does anyone think it will be on the pad where the new Alpha Hunter drilling rig drills its first well?

http://www.greenhunterenergy.com/_downloads/GreenHunter_Water_MAG_T...    

 

Perhaps it is going to "an independent driller" 

                               http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/greenh...

Permalink Reply by ShaleRocks on May 2, 2013 at 3:03am

Does anyone feel that this new rig will increase risk by using it for the first time on the Price/Stalder pads?  Using it on one of Magnum Hunters 8x8 wells seems like an expensive learning curve to me.  Any thoughts?

Permalink Reply by searcherone on May 2, 2013 at 3:16am

ShaleRocks, do we know for certain those are the pads it will be used on?  I have been making that guess because of the location where the rig is being housed at currently--the Ormet complex and stating it here in another thread, but no one has confirmed it.

 IMHO  drilling a well early on in this play is a "learning curve scientific experiment" so if a well comes to my property I hope a few experiments have happened beforehand.

Permalink Reply by SLB MONROE on May 2, 2013 at 3:31am

The rig is being put together between the river and  AGI (the old Ormet rolling mill). I think they are training on the construction of it. Practice makes perfect.  Then they are going to tear it back down again and head for the hills, drill a well, bring it back down and drill on the bottom ground at AGI.   thats my understanding.

Permalink Reply by searcherone on May 2, 2013 at 3:46am

Thanks SLB.  So if I drive by AGI I won't see the rig as its between the building and the river-is that correct?  And the hills they are heading for are in Lee Township?

 

Permalink Reply by SLB MONROE on May 2, 2013 at 8:27am

You may see the top after its up. I was told the name of property owner, but there isn't a permit for them yet on ODNR. I'll pry some more tomarrow

Permalink Reply by ShaleRocks on May 2, 2013 at 6:20am

I exchanged a couple emails with Eclipse and they said that they thought that it was going to the Stalder pad, but were not 100% certain.

 

I agree with you on the experiment side.  I do not know exactly what goes on during a normal drilling operation but I could imagine that there is a good bit of precision that will be required to drill the 16 wells. 

 

What would be a normal failure mode while drilling on a dense pad?

Permalink Reply by searcherone on May 6, 2013 at 2:38pm

http://www.fool.com/investing/general/2013/04/17/magnum-hunter-begi...

This is an April 17th Motley Fool article with a little more about Magnum's well in Washington County;  also article gives the general overview of lack of production numbers and waiting on infrastructure.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service