Hunter

Magnum Hunter Resources Corp. has entered a non-binding agreement with an undisclosed private equity fund to farm-out 28,500 net acres in Ohio to jointly develop unproven Marcellus and Utica Shale acreage that could net the company up to $430 million in sorely needed cash.

Magnum Hunter Resources Corp. said Thursday it would sell midstream subsidiary Eureka Hunter Holdings LLC in a move that finds the company shopping one of its paramount assets to address a liquidity crunch.

Magnum Hunter Resources Corp. said Thursday it would sell midstream subsidiary Eureka Hunter Holdings LLC in a move that finds the company…

The West Virginia Department of Commerce has selected winning bids from three operators that want to develop valuable mineral rights below the Ohio River in Marshall, Wetzel and Tyler counties.

The former Amaranth Advisors LLC trader who was overseeing the energy desk when the fund collapsed in 2006 has agreed to pay the Commodity Futures Trading Commission (CFTC) $750,000 to resolve a lawsuit accusing him of attempting to manipulate natural gas futures prices.

Magnum Hunter Resources Corp. picked a new business partner for its midstream subsidiary, Eureka Hunter Holdings LLC, in a move that it said Tuesday will create significant savings and more flexibility for its upstream operations.

Bakken Hunter LLC, a wholly owned subsidiary of Houston-based Magnum Hunter Resources Corp., has filed an application seeking FERC authorization and a presidential permit to build and operate border-crossing facilities to import natural gas from Canada to North Dakota for processing.

Despite problems with their first well targeting the Utica Shale, executives with Magnum Hunter Corp. said the company plans to speed up leasing activity and deploy a second drilling rig in the play, based on encouraging results by their competitors.

Magnum Hunter Resources Inc. is in talks with three parties for the potential sale of Eagle Ford Shale assets as part of plans this year to sell $400-500 million of assets. An announcement is expected soon, according to the company. During a recent conference call, CEO Gary Evans said all three Eagle Ford bidders have made offers in the same price range. Two are offering all cash and one is offering cash and equity, he said. “So from our perspective, it doesn’t really matter who ends up with it. But we do feel like we will have an announcement on that in short order,” he said.The company also is considering selling assets in the Pearsall Shale as well, and assets in the Williston Basin and potentially in Kentucky, Evans said.