Magnum Hunter Natgas Production Up 66% in 1Q15

Magnum Hunter Resources, now a pure play company focusing on the Marcellus/Utica region, released first quarter production results yesterday and they look impressive. Natural gas (and equivalents) was up 66% for first quarter 2015 over the same period in 2014. The question is, however, how much longer will Magnum Hunter be able to continue pulling a rabbit out of the hat? In 2014 the company drilled 53 wells. This year they plan to drill 5 because of the low price of natgas (and lack of funds). It will be interesting to watch as the year progresses. In the meantime, let’s celebrate this nice increase in 1Q15!…

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