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Last $0.96 USD
Change Today -0.0504 / -4.99%
Volume 3.9M
MHR On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

magnum hunter resources corp (MHR) Snapshot

Open
$1.01
Previous Close
$1.01
Day High
$1.01
Day Low
$0.96
52 Week High
08/28/14 - $6.94
52 Week Low
07/27/15 - $0.95
Market Cap
199.9M
Average Volume 10 Days
5.6M
EPS TTM
$-1.81
Shares Outstanding
208.3M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for MAGNUM HUNTER RESOURCES CORP (MHR)

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magnum hunter resources corp (MHR) Details

Magnum Hunter Resources Corporation, an independent oil and gas company, explores for, exploits, acquires, develops, and produces crude oil, natural gas, and natural gas liquid resources in the United States. The company operates through the U.S. Upstream, Midstream, and Oilfield Services segments. It operates in two of the unconventional shale resource plays in the United States, including the Marcellus Shale and the Utica Shale plays located in the Appalachian Basin within the states of West Virginia and Ohio; and owns interests in non-operated oil and gas properties in the Williston Basin/Bakken Shale located in Divide County, North Dakota. As of December 31, 2014, the company had approximately 274,653 net leasehold acres in its principal operating areas, including 79,683 net acres in the Marcellus Shale; approximately 125,680 acres in the Utica Shale; and approximately 69,290 net acres in the Williston Basin/Bakken Shale in North Dakota. It also operates natural gas properties in Kentucky; provides midstream operations services, such as natural gas marketing, as well as the and operation of a network of pipelines and compression stations that gather natural gas and NGLs in the U.S. for transportation, principally in West Virginia and Ohio; and offers drilling services to third party oil and natural gas exploration and production companies. The company was formerly known as Petro Resources Corporation and changed its name to Magnum Hunter Resources Corporation in July 2009. Magnum Hunter Resources Corporation was incorporated in 1997 and is headquartered in Houston, Texas.

440 Employees
Last Reported Date: 03/2/15
Founded in 1997

magnum hunter resources corp (MHR) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $947.4K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $452.0K
Executive Vice President of Operations and Pr...
Total Annual Compensation: $583.1K
Executive Vice President of Exploration and P...
Total Annual Compensation: $435.0K
Senior Vice President and General Counsel
Total Annual Compensation: $391.5K
Compensation as of Fiscal Year 2014.

magnum hunter resources corp (MHR) Key Developments

Magnum Hunter Resources Corporation Enters into Fifth Amendment to Credit Agreement

On and effective as of July 10, 2015, Magnum Hunter Resources Corporation entered into a Fifth Amendment to Credit Agreement and Limited Waiver by and among Magnum Hunter, as borrower, Bank of Montreal, as administrative agent, and the several lenders and guarantors party thereto. The Fifth Amendment amended Magnum Hunter's Fourth Amended and Restated Credit Agreement, dated as of October 22, 2014 (as amended, the First Lien Credit Agreement) to, among other things, (i) permanently eliminate the Company's obligation under the First Lien Credit Agreement to raise $65 million in net cash proceeds from certain specified transactions; and (ii) extend the amount of time Magnum Hunter and its Restricted Subsidiaries (as defined in the First Lien Credit Agreement) may have accounts payable outstanding after the date of invoice from 90 days to 180 days for any day on or prior to the earlier of (a) December 31, 2015 or (b) the date that is ten business days following the date on which the Company consummates the sale of all or substantially all of the Company's equity ownership interest in Eureka Hunter Holdings, LLC (the date of such sale, the Trigger Date), after which earlier date the restriction will revert back to 90 days.

Magnum Hunter Resources Gets Break from Lenders

Magnum Hunter Resources Corp. no longer will have to raise at least $65 million in capital in connection with a debt amendment. The Irving, Texas, oil and gas exploration and production company announced on July 8, 2015 that senior lenders led by Bank of Montreal, the administrative agent and lead lender under the company's senior secured revolving credit facility, had removed a requirement to raise the funds by July 10, 2015. The lenders previously agreed to extend the funding deadline from May 29 and June 19. Nevertheless, the company already has raised $55.6 million through the sale of certain assets and plans to raise an additional $600 million to $700 million by selling all of its 45.53% stake in natural gas gathering unit Eureka Hunter Holdings LLC. According to the statement, the lenders also agreed to waive certain covenants until either the quarter ending December 31, 2015 or when the sale of the Eureka Hunter assets closes. Bank of Montreal also has agreed to assume 100% of the company's revolver if other lenders decide they no longer want to be part of the lending group. First- and second-lien lenders in April demanded the company raise at least $65 million in connection with a debt amendment that allowed Magnum Hunter to stay in compliance with its covenants. The covenant waivers were dependent on the company raising the funds. The company has a senior first-lien revolving credit facility with an initial borrowing base of $50 million. The revolver is set to mature on October 22, 2018, and the commitment level may be increased up to $250 million. The revolver carries a 0.5% unused commitment fee and is priced at an alternative base rate plus 100 basis points to 200 basis points or Libor plus 200 basis points to 300 basis points.

Magnum Hunter Resources Declares Monthly Cash Dividend on Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock Payable on July 31, 2015

Magnum Hunter Resources Corporation announced that it has declared a monthly cash dividend on the Company's 10.25% Series C Cumulative Perpetual Preferred Stock, a monthly cash dividend on the Company's 8.0% Series D Cumulative Preferred Stock and a monthly cash dividend on the Company's 8.0% Series E Cumulative Convertible Preferred Stock. The outstanding shares of Series E Preferred Stock are represented by depositary shares, each representing a 1/1,000th interest of a share of Series E Preferred Stock. The dividend on the Series C Preferred Stock, which is for the month of July 2015, is payable on July 31, 2015, to holders of record at the close of business on July 15, 2015. The payment will be an annualized 10.25% per share, which is equivalent to approximately $0.2135 per share, based on the $25.00 per share liquidation preference of the Series C Preferred Stock. The dividend on the Series D Preferred Stock, which is for the month of July 2015, is payable on July 31, 2015, to holders of record at the close of business on July 15, 2015. The payment will be an annualized 8.0% per share, which is equivalent to approximately $0.3333 per share, based on the $50.00 per share liquidation preference of the Series D Preferred Stock. The dividend on the Series E Preferred Stock, which is for the month of July 2015, is payable on July 31, 2015, to holders of record at the close of business on July 15, 2015. The payment will be an annualized 8.0% per share of Series E Preferred Stock, which is equivalent to approximately $166.6667 per share, based on the $25,000.00 per share liquidation preference of the Series E Preferred Stock (equivalent to approximately $0.1667 per Depositary Share, based on the $25.00 per Depositary Share liquidation preference). The payment of dividends to holders of the Depositary Shares will be made in accordance with the terms of the Deposit Agreement which governs the Depositary Shares.

 

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Industry Analysis

MHR

Industry Average

Valuation MHR Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.6x
Price/Book 14.1x
Price/Cash Flow 0.5x
TEV/Sales NM Not Meaningful
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