Everyone seems to be providing an update on what’s happening with their drilling operations in the Marcellus—all at once! And it’s not even time for quarterly updates. The latest announcement is from Magnum Hunter Resources—a statement as to why they aren’t producing more (must be investors are asking questions). Magnum Hunter reports that storms knocked a lot of their production offline in July, and currently, lack of processing capacity at a Dominion Transmission facility is holding them back.
Here’s Magnum Hunter’s explanation for lack of production: