Magnum Hunter Resources Reports Second Quarter 2014 Financial and Operating Results
finance.yahoo.com
Oil and gas revenues for the quarter were $78.2 million, a 58% increase over the prior year second quarter and an 11% increase over the first quarter of 2014
Midstream and marketing revenues for the quarter were $48.4 million, a 246% increase over the prior year second quarter and a 53% increase over the first quarter of 2014
Adjusted EBITDAX(a) for the quarter was $51.4 million, an increase of 103% compared to prior year second quarter and an increase of 32% compared to the first quarter of 2014
Net Loss and adjusted net loss(a) for the quarter of ($0.43) and ($0.09), respectively, per diluted share
Production from continuing operations of 15,923 BOEPD and adjusted production(b) of 17,822 BOEPD; adjusted production increased 18% over the prior year second quarter
Throughput volumes on Eureka Hunter Pipeline System reached a record high, averaging 223,573 MMBtu/d during the quarter with a recent peak throughput rate of 268,361 MMBtu/d
Capacity on Eureka Hunter Pipeline System is anticipated to grow to 1.5 Bcf/d over the next year upon completion of interconnects into Dominion, REX and TETCO
Acquired approximately 15,228 net leasehold acres (~ $4,347/acre) within the Marcellus and Utica Shale plays
Closed on the acquisition in July of approximately 1,700 net mineral acres located in Monroe County, Ohio and Wetzel County, West Virginia for $22.7 million
Strategic decision made to monetize Divide County, North Dakota operated/non-operated properties and reallocate resources to core operations in the Appalachian Basin
Mid-year 2014 proved reserves increased 11% from year-end 2013 to 79.8 MMBoe and mid-year 2014 3P reserves increased 11% from mid-year 2013 to 132.9 MMBoe |
