Identity

Magnum Hunter Resources Corp., which was acquired in 2005 by Cimarex Energy Co., this week assumed its former identity with its founder back at the helm.

Attempting to shed its former identity as Reliant Energy Inc., CenterPoint Energy Inc. unveiled its first earnings statement as a new holding company, reporting third quarter earnings down 12% compared with the same period a year ago. However, CenterPoint management said going forward, things look better, and they increased year-over-year earnings guidance Ito a range of $1.30 to $1.35, up from a previous forecast of $1.17 to $1.22 per diluted share.

Ocean Energy, Inc. said yesterday that it has agreed to sell allof its interests and assets in its East Bay Complex for $86million. The buyer’s identity was not disclosed. The propertiesconsist of South Pass 24, South Pass 27 and South Pass 39 Fields,located in the Mississippi Delta Region of the Gulf of Mexico. Thetransaction is expected to close March 31 subject to normal andcustomary conditions. CEO James Hackett said in a statement thatthe move was made in order to high-grade Ocean’s balance sheet andgain capital so that it could accumulate higher margin inventory.