Past year: ▼ 99%(1.00c – 1.87 USD)
Each one in plain English, with the numbers worked through for a shareholder.
5 Aug 2011capital raising announcement▲ GoodMajor
Magnum Hunter's Williston Hunter ND subsidiary agreed to buy North Dakota oil and gas properties from Eagle Operating for $57 million ($55 million cash, $2 million in stock) - the company's first big push into the Bakken/Williston Basin, alongside its established Appalachian and Eagle Ford positions.
19 July 2011debt financing▲ Good
With the NGAS and NuLoch acquisitions folded in, Magnum Hunter's lenders raised its credit facility borrowing base again, to $170 million (potentially $177.5 million with added hedges), against a newly expanded $250 million maximum commitment.
21 June 2011material agreement▲ Good
Triad Hunter closed the third and final phase of its West Virginia leasehold purchase from Quest Eastern Resource, adding Lewis and Braxton County mineral interests for about $4.9 million cash - wrapping up the multi-phase deal first announced in December 2010.
5 May 2011business combination▲ GoodMajor
Magnum Hunter detailed the completed NuLoch Resources acquisition: shareholders and an Alberta court approved it April 28, about 38.6 million Magnum Hunter shares plus 4.3 million exchangeable shares (roughly $333 million total) were issued to former NuLoch holders, and the credit facility's borrowing base rose to $145 million now that both the NGAS and NuLoch deals were done.
3 May 2011business combination▲ GoodMajor
Magnum Hunter announced it had closed its acquisition of NuLoch Resources, the Alberta producer it agreed to buy in January 2011 - full transaction detail to follow in a separate filing.
14 Apr 2011business combination▲ GoodMajor
Magnum Hunter closed its all-stock acquisition of NGAS Resources, making it a wholly owned subsidiary, and refinanced into a new $145 million (initially $120 million) Bank of Montreal-led credit facility maturing 2016 to support the larger, combined company.
12 Apr 2011material agreement▲ Good
Triad Hunter bought more Wetzel County, West Virginia gas properties, this time from Windsor Marcellus, for $20 million cash - a straight bolt-on to the Appalachian acreage assembled through the Triad Energy and Quest Eastern/PostRock deals.
5 Apr 2011listing compliance notice▼ Bad
MAGNUM HUNTER RESOURCES CORP withdrew a registration statement, abandoning the offering it covered.
28 Mar 2011material agreement● Neutral
Magnum Hunter launched a third preferred-stock at-the-market program, this time for up to 2 million shares of new 8.0% Series D preferred stock, adding another funding channel as it worked to close three pending acquisitions (Triad follow-ons, NGAS, NuLoch).
18 Mar 2011listing compliance notice▲ GoodMajor
the New York Stock Exchange certified MAGNUM HUNTER RESOURCES CORP's securities for listing, clearing them to begin trading.
16 Mar 2011business combination▲ Good
As a condition of the pending NGAS Resources acquisition, Magnum Hunter and NGAS agreed with gas-gathering counterparty Seminole Energy Services to amend NGAS's Appalachian gas gathering and sales agreements - lowering NGAS's gathering fees once the acquisition closes, removing a hurdle to completing the deal.
2 Mar 2011business combination● NeutralMajor
Pro forma accounts showing what Magnum Hunter would look like with the PostRock assets, NGAS Resources and NuLoch Resources all folded in - the first consolidated picture of three acquisitions the company was pursuing at the same time.
1 Feb 2011business combination● Neutral
Magnum Hunter said it would combine its 2011 annual shareholder meeting with the special meeting needed to approve the stock issuance for the pending NuLoch acquisition, targeting late April 2011 - a scheduling notice, not new substance.
25 Jan 2011business combination▲ GoodMajor
Magnum Hunter agreed to acquire NuLoch Resources, an Alberta oil producer, in a share-exchange deal (0.3304 exchange ratio, valuing NuLoch at CAD$2.50/share) - a third major acquisition alongside the pending Triad and NGAS deals, this one Magnum Hunter's first push into Canada.
18 Jan 2011asset acquisition disposition▲ Good
The second phase of Triad Hunter's West Virginia gas-property purchase from Quest Eastern/PostRock closed: the Lewis County assets for $11.7 million, again about half cash and half stock.
14 Jan 2011production update▲ Good
Magnum Hunter gave an operational update on its Eagle Ford Shale drilling and announced its Series C preferred stock program was fully subscribed at its $100 million authorized limit (4 million shares) - the preferred-stock funding tool launched in early 2010 had now been maxed out.
10 Jan 2011listing compliance notice▼ BadMajor
MAGNUM HUNTER RESOURCES CORP's securities were notified for removal from listing and registration on its exchange.
5 Jan 2011asset acquisition disposition▲ Good
The first phase of Triad Hunter's purchase of Quest Eastern/PostRock's West Virginia gas properties closed: the Wetzel County assets for $28 million, half cash and half stock, effective November 2010.
30 Dec 2010business combination▲ GoodMajor
Magnum Hunter agreed to acquire all of NGAS Resources, an Appalachian gas producer, in an all-stock deal (0.0846 Magnum Hunter shares per NGAS share, valuing NGAS at $0.55/share) via a Canadian court-approved plan of arrangement - Magnum Hunter's second major stock-funded acquisition after Triad, expanding it further in Appalachia.
30 Dec 2010listing compliance notice▲ GoodMajor
the New York Stock Exchange certified MAGNUM HUNTER RESOURCES CORP's securities for listing, clearing them to begin trading.
30 Dec 2010capital raising announcement▲ GoodMajor
Magnum Hunter's Triad Hunter subsidiary agreed to buy more Appalachian oil and gas properties, this time in Wetzel and Lewis Counties, West Virginia, from Quest Eastern Resource and PostRock MidContinent Production for about $39.75 million - half cash, half roughly 3.2 million new restricted shares (about 4% dilution) - continuing the regional build-out started with the 2010 Triad Energy acquisition.
29 Dec 2010listing compliance notice▲ GoodMajor
Magnum Hunter won approval to move its common stock's listing from the NYSE Amex up to the New York Stock Exchange, a sign of the company's growth since the Triad acquisition; trading on the NYSE was set to begin in early January 2011.
6 Dec 2010debt financing● Neutral
Magnum Hunter's lenders added a $6.5 million Tranche B term loan tied to the Eureka Hunter Pipeline within its BMO credit facility, at 5.5% interest and due within a year - re-leveraging the pipeline asset that had been carved out of the facility's collateral just months earlier.
15 Nov 2010material agreement termination● Neutral
Magnum Hunter replaced its common-stock at-the-market sales agreement with McNicoll, Lewis & Vlack with a new one under a fresh shelf registration, terminating the prior June 2010 version - a routine refresh of its equity-funding tool, not new capital.
4 Nov 2010asset acquisition disposition▲ GoodMajor
Magnum Hunter sold its 10% non-operated working interest in the Cinco Terry prospect in Crockett County, Texas to Approach Oil & Gas for $21.5 million cash, trimming a minority position to focus capital elsewhere.
30 Sept 2010material agreement● Neutral
Magnum Hunter's bank lenders waived credit-agreement restrictions to let the company buy back up to $1 million of its own common stock, intended to fund a new employee 401(k) stock ownership plan.
15 Sept 2010security holder rights change● Neutral
Magnum Hunter switched its Series C preferred stock to pay dividends monthly instead of quarterly, starting October 2010.
25 June 2010material agreement● Neutral
Magnum Hunter opened a second at-the-market program, this one to sell up to 125,000 more shares of its Series C preferred stock through McNicoll, Lewis & Vlack, alongside the existing Wm. Smith & Co. preferred ATM.
24 June 2010material agreement● Neutral
Magnum Hunter set up a second at-the-market program, this one to sell up to 10 million common shares through McNicoll, Lewis & Vlack - an ongoing equity-funding tool alongside its preferred-stock ATM and bank line.
19 May 2010debt financing▲ Good
Magnum Hunter's lenders raised its BMO credit facility borrowing base again, to $75 million, and released its Eureka Hunter Pipeline subsidiary from the loan's security package - freeing that pipeline asset to be financed or developed separately.
