Past year: ▼ 99%(1.00c – 1.87 USD)
Each one in plain English, with the numbers worked through for a shareholder.
19 July 2012auditor change● Neutral
Magnum Hunter completed its auditor search, engaging PricewaterhouseCoopers as its new independent auditor for fiscal 2012 after Hein & Associates declined to continue - no disagreements were reported with the outgoing auditor.
6 July 2012debt financing▼ Bad
Magnum Hunter's Eureka Hunter Pipeline subsidiary had to get its second-lien lender PennantPark to loosen leverage and interest-coverage covenants and waive a default, the pipeline's first sign of financial strain since taking on outside debt in 2011.
1 June 2012auditor change● Neutral
Magnum Hunter's longtime auditor Hein & Associates, which had audited it since 2009, declined to stand for re-election for fiscal 2012; the company said it wanted a larger firm to match its rapidly expanding operations and began searching for a replacement, with Hein staying on in the interim.
23 May 2012asset acquisition disposition▲ GoodMajor
Magnum Hunter closed the $311 million Baytex Energy acquisition in North Dakota's Divide and Burke Counties, financed by the new senior notes and equity offering - its largest deal yet, completing the buildout of a fourth major operating area (Williston Basin) alongside Appalachia, Eagle Ford and the Eureka Hunter midstream business.
16 May 2012debt financing▼ BadMajor
Magnum Hunter closed the $450 million, 9.750% senior notes offering, netting about $432 million to help pay for the Baytex acquisition, retire its term loan and revolver borrowings, and raise its 2012 capital budget from $150 million to $325 million - a sharp step up in both spending and debt load.
14 May 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed a prospectus supplement for an offering off its existing shelf.
14 May 2012material agreement▼ BadMajor
To help fund the Baytex acquisition, Magnum Hunter agreed to a $450 million offering of 9.750% senior unsecured notes due 2020 and a public offering of 35 million common shares at $4.50 each - a major, expensive capital raise reflecting how much debt and equity the company now needed to keep growing.
10 May 2012quarterly activities report▼ Bad
MAGNUM HUNTER RESOURCES CORP reported a quarterly net loss of $12.5 million for the period ended 2012-03-31.
8 May 2012debt financing▲ Good
Magnum Hunter amended its bank credit facility to accommodate the pending $311 million Baytex acquisition, its lenders again supporting the company's expansion.
4 May 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed a prospectus supplement for an offering off its existing shelf.
3 May 2012quarterly activities report▼ Bad
MAGNUM HUNTER RESOURCES CORP reported a quarterly net loss of $12.5 million for the period ended 2012-03-31.
3 May 2012quarterly activities report▼ Bad
MAGNUM HUNTER RESOURCES CORP reported a quarterly net loss of $12.5 million for the period ended 2012-03-31.
24 Apr 2012material agreement▲ GoodMajor
Magnum Hunter's Bakken Hunter subsidiary agreed to buy Baytex Energy's non-operated working interest in Divide and Burke Counties, North Dakota for $311 million cash - by far its largest single acquisition yet, which would lift its stake in those Williston Basin properties from 10% up to as much as 47.5%.
6 Apr 2012asset acquisition disposition▲ GoodMajor
ArcLight's Ridgeline bought another $46.8 million of Eureka Hunter Holdings preferred units, and Eureka Holdings used the proceeds plus new equity to buy TransTex Gas Services' gas-treating business for $58.5 million - expanding Magnum Hunter's midstream operations beyond pipeline gathering into gas treating and processing.
5 Apr 2012asset acquisition disposition▲ GoodMajor
Magnum Hunter finally closed the long-delayed Eagle Operating North Dakota acquisition, about seven months late, for roughly $53 million ($50.9 million cash plus stock) - raising its working interest in the Williston Basin properties from about 47% to about 95%, resolving the dispute that had stalled the deal since August 2011.
5 Apr 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
27 Mar 2012capital raising announcement▲ GoodMajor
Magnum Hunter brought in outside capital for its midstream arm: Ridgeline Midstream Holdings, an affiliate of ArcLight Capital Partners, committed up to $200 million to buy preferred units in Eureka Hunter Holdings (the parent of the Eureka Hunter pipeline), funding an initial $60 million purchase - the pipeline business's first outside institutional investor.
9 Mar 2012material agreement● Neutral
Magnum Hunter's long-delayed North Dakota acquisition from Eagle Operating - originally set to close in August 2011 but stalled by a dispute that turned into litigation - was rescheduled to close March 30, 2012 under a court settlement, still for $57 million and still raising Magnum Hunter's working interest in the properties from about 47% to about 95%.
29 Feb 2012quarterly activities report▼ Bad
MAGNUM HUNTER RESOURCES CORP reported a quarterly net loss of $75.2 million for the period ended 2011-12-31.
27 Feb 2012substantial holder notice● Neutral
Magnum Hunter Resources Corporation Tax I.D. No. disclosed a new substantial MAGNUM HUNTER RESOURCES CORP shareholding (9.50% of votes).
21 Feb 2012debt financing▲ Good
Magnum Hunter's bank lenders raised its revolving credit facility borrowing base further, to $235 million from $200 million, while also amending the separate $100 million second-lien term loan - the credit facility had now nearly tripled in less than a year as the company kept adding debt.
9 Feb 2012substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial MAGNUM HUNTER RESOURCES CORP shareholding (7.45% of votes).
2 Feb 2012quarterly activities report▼ Bad
MAGNUM HUNTER RESOURCES CORP reported a quarterly net loss of $75.2 million for the period ended 2011-12-31.
19 Jan 2012material agreement termination● Neutral
Magnum Hunter again refreshed its Series D preferred at-the-market sales agreements with MLV and Wunderlich under a new shelf registration, terminating the December 2011 versions - another routine renewal of the same ongoing preferred-equity funding tool.
19 Jan 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed a prospectus supplement for an offering off its existing shelf.
19 Jan 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed a prospectus supplement for an offering off its existing shelf.
13 Jan 2012securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
12 Dec 2011debt financing▲ Good
On rising proved reserves, Magnum Hunter's bank lenders again increased its credit facility borrowing base, to $200 million from $167.5 million, and eased the debt-to-EBITDAX covenant calculation - continued easy access to bank credit even as the company piled on the second-lien term loan alongside it.
2 Dec 2011material agreement termination● Neutral
Magnum Hunter replaced its Series D preferred at-the-market program with new agreements with MLV & Co. and Wunderlich Securities under a fresh shelf registration, terminating the March 2011 version - a routine refresh, not new capital.
2 Dec 2011securities registration● Neutral
MAGNUM HUNTER RESOURCES CORP filed a prospectus supplement for an offering off its existing shelf.
