Magnum Hunter Resources (MHR) Sees Gas Curtailments Continuing in Appalachia Region
Tweet Send to a FriendGet Alerts MHR Hot Sheet
Trade MHR Now!
Magnum Hunter Resources Corporation (NYSE: MHR) provides a status update on the Company's shut-in production in the Appalachia region from a severe thunderstorm that hit the area almost two weeks ago.
Due to loss of electricity in the region, the Company has continued to experience gas production curtailments at the tailgate of its pipeline into Dominion Transmission at their Hastings processing facility located in Hastings, West Virginia.
Currently, approximately 10% (8.4 mmcfepd) of Magnum Hunter's current total net production or 17% of the Company's Appalachia production is being curtailed, which is more than originally anticipated.
Based on representations from Dominion Transmission, it expects the curtailments to continue for at least the next several weeks, and have no indication on when the Hastings processing facility will return to normal capacity.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Due to loss of electricity in the region, the Company has continued to experience gas production curtailments at the tailgate of its pipeline into Dominion Transmission at their Hastings processing facility located in Hastings, West Virginia.
Currently, approximately 10% (8.4 mmcfepd) of Magnum Hunter's current total net production or 17% of the Company's Appalachia production is being curtailed, which is more than originally anticipated.
Based on representations from Dominion Transmission, it expects the curtailments to continue for at least the next several weeks, and have no indication on when the Hastings processing facility will return to normal capacity.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Wal-mart (WMT) Posts Q1 EPS of $1.14; U.S. Comps Down 1.4%; Guides Q2 EPS
- UPDATE: Aruba Networks, Inc. (ARUN) Misses Q3 EPS by 4c, Guidance Light
- Hess (HES), Elliott to End Proxy Contest; Three Elliott Nominees Will be Added
Create E-mail Alert Related Categories
Corporate News, Guidance
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
