Markets

Magnum Hunter Resources Says Shale Well Results Are Significant, May Keep the Properties; Shares Rise 2% in Pre Market

Magnum Hunter Resources ( MHR ) says Rhino Hunter #1 well located in Lavaca County, Texas is producing approximately 2,033 barrels of oil per day.

The Zebra Hunter #1 is also located in Lavaca County, Texas and is producing approximately 1,995 barrels of oil per day and 898 mcf of natural gas (2,145 boe/d) on a 16/64" choke.

The CEO said in a statement that "our management and board may very well have second thoughts about our decision to possibly completely divest these properties at this time."

Share of MHR are up 2.12% to $3.86 in the pre-market session, near the low end of a 52-week range of $3.29 - $7.71.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More