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...

 

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Permalink Reply by searcherone on June 26, 2015 at 2:34pm

This is an excerpt from an article by Jim Collins of Real Money regarding a presentation Gary Evans gave on Thursday at the DUG East Conference in Pittsburgh.   Remember when Evans wanted to turn Eureka Hunter into an MLP.    Now he has an offer from an MLP to buy it.

Permalink Reply by searcherone on July 10, 2015 at 11:12am

http://seekingalpha.com/article/3316945-magnum-hunter-saint-montrea...

Magnum gets by their money woes. . .AGAIN.

If I remember correctly Evans began his career in banking in Canada,   Obviously he as connections.

Permalink Reply by searcherone on August 10, 2015 at 3:11pm

http://www.bizjournals.com/columbus/blog/ohio-energy-inc/2015/08/ma...

hope this will take you to the brief article;  info was basically presented in their conference call on 2Q report

Permalink Reply by Dexter Green on August 10, 2015 at 4:07pm

Big winner here is Morgan Stanley.  Their piece of Eureka Hunter just increased in value quite a bit.

Permalink Reply by searcherone on August 11, 2015 at 2:57pm

The above is from Columbus Business First, Aug 11 and written by Tom Knox

And strange I thought MH was getting a real o/g drilling partner not an unnamed financial partner that could be a number of somebodies or some companies or some financial wizards.

However, reading between the lines Jim Denny, the drilling superintendent seems to be out and some guy from Chesapeake is an Executive Vice President overseeing the drilling etc.   Correct me if I am in error here.

Also MH never received a fine for the leak on the Stalder well pad in December as reported in the Wheeling Intelligencer.  However, the State of Ohio received a huge amount of tax money related to the Eureka Hunter pipeline that MH self reported and said they owed under a pipeline tax law out of the 1920's.    Monroe County Ohio received two and a half million dollars as their portion of that tax.     Monroe County officials were worried it was a mistake, but have been assured it isn't.    

Comments anyone?

Permalink Reply by searcherone on October 3, 2015 at 2:05am

http://www.bizjournals.com/columbus/blog/ohio-energy-inc/2015/10/ac...

Over the past 30 days nothing has progressed at MH, no sale of pipeline.   Oh, but MH has hired a "financial engineer".  

Permalink Reply by searcherone on October 6, 2015 at 2:50pm

Another chapter in the saga of Salazar organizing a takeover attempt of MH.

http://www.bizjournals.com/columbus/blog/ohio-energy-inc/2015/10/ma...

Permalink Reply by searcherone on October 8, 2015 at 9:54am

Remember back in 2013 during a "pigging" operation in Tyler County, WV a man lost his life.   Here is the outcome of that wrongful death suit.    I am certain there are posts in this thread about that explosion.

http://www.wvgazettemail.com/article/20151007/GZ01/151009571/1101

Permalink Reply by searcherone on October 10, 2015 at 1:04am

http://seekingalpha.com/pr/14945796-magnum-hunter-resources-hires-a...

Well, obviously, the Eureka Hunter sale didn't happen and isn't saving MH.   So what company/companies are waiting in the wings  to pick up the pieces of MH.    Indeed it is interesting that MH was formed out of bankruptcy court when Evans bought Triad several years  ago . . .is that where MH is headed?

Obviously the 18 million dollar judgment against them this week was not helpful.

Permalink Reply by searcherone on November 1, 2015 at 5:43am

Interesting comments on MH as well as comments on other SE Ohio companies.

http://realmoney.thestreet.com/articles/10/30/2015/5-nat-gas-stocks...

Permalink Reply by Ralph cramdon on November 2, 2015 at 1:53am

RRC has the opinion that there soon be EXCESS pipeline capacity in the region . 

Permalink Reply by searcherone on November 2, 2015 at 3:17am

That is an interesting thought.    Article says Eureka Hunter pipeline capacity is 30% from Magnum Hunter. . .so that is looking like a potential 30%  capacity on that localized line in WV and OH.    If companies are cutting drilling, not as much need for takeaway.

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