Eureka Hunter Pipes Hits 700 Mmcf/d, MHR Still Looking to Sell It

Apparently looking to pump up the value and sex appeal of one of its major assets, this morning Magnum Hunter Resources (MHR) issued a press release about its pipeline subsidiary Eureka Hunter calling attention to the news that the midstream operation has increased its throughput to an average of 700 million cubic feet of natural gas per day (700 Mmcf/d, or put another way, 700,000 million Btus, or 700,000 MMBtus). The last time MHR issued a press release about the throughput of Eureka Hunter was in March, when it had achieved an average of 623 Mmcf/d (see Eureka Hunter Pipeline Volume Continues to Expand, now 623 Mmcf/d). Just two weeks ago, facing a cash crunch, MHR announced they are looking to sell 100% of their stake in the Eurkea Hunter subsidiary (see Magnum Hunter Cuts Deal to Sell Eureka Hunter & 2 New JVs). While hitting 700 Mmcf/d is certainly a noteworthy milestone, today’s press release has the look and feel of publicity meant to influence investors rather than news meant to inform…

Please Login to view this content. (Not a member? Join Today!)
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.