- Tight Gas & Oil
- Gas Hydrates
Magnum Hunter Resources Corp. (MHR) has a lot to grapple with lately: a securities investigation, tight liquidity and a lot of assets it would like to sell.
The company got some of its wind back in May, as it expects to reap about $40.8 million from the sale of noncore acreage in an undeveloped, unproven leasehold acreage located in Tyler County, W.V.
MHR’s subsidiary, Triad Hunter LLC, sold ownership interests in about 5,210 net leasehold acres to an unnamed, independent E&P.
Combined midstream operations will include the Marcellus, Utica, Eagle Ford, Haynesville, Barnett, Midcontinent and Niobrara. It’s anticipated to be one of the largest, high-dividend paying C-Corps in the energy sector.
E&Ps showed fortitude in the downturn, benefitting from cost concessions while dealing with impairments to their assets because of low oil prices.