MHRC on the OTC market Message Board

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Gold/Mining/Energy : MHRC on the OTC market

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From: JakeStraw	10/5/2011 9:38:16 AM
	of 188

Magnum Hunter Subsidiary Announces Marcellus Gas Processing Initiative With MarkWest finance.yahoo.com Mr. Don Kirkendall, Senior Vice President of Eureka Hunter Pipeline, LLC, commented, "The comprehensive midstream services agreements that Eureka Hunter and Triad Hunter announced today with MarkWest Liberty are a very positive event for our Company. Due to the very high BTU nature of the natural gas stream produced from the Marcellus Shale in northwestern West Virginia, it has been a priority for Eureka Hunter to not only be able to offer gathering services, but to also offer processing such that the extremely valuable NGLs within this production stream can be captured and then sold on a stand alone basis in order to realize full economic value. These new agreements with MarkWest Liberty will allow Eureka Hunter to become the midstream services provider of choice in Northwestern West Virginia. Adding Mobley processing as another delivery option for producers connected to Eureka Hunter expands the optionality that makes Eureka Hunter so unique in this region. The proceeds to be received by Eureka Hunter from the sale of our Thomas Russell cryogenic processing plant under construction further enhances our liquidity position and allows our expansion activities to accelerate. Eureka Hunter's sister company, Triad Hunter, will benefit from having a pipeline ready to move its rapidly increasing raw Marcellus Shale production to sales and now processing. The ability of Triad Hunter to book additional NGL proven reserves is also now significantly enhanced. We are excited to be working with MarkWest Liberty in this new relationship. As the largest natural gas processor and fractionator in the Appalachian Basin, MarkWest has operated vertically integrated natural gas processing and NGL fractionation, storage and marketing services to producers for more than 20 years."

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