Magnum Hunter Finds New CEO to Replace Forced-Out Gary Evans

John K. Reinhart
John K. Reinhart

Magnum Hunter Resources Corporation (MHR), a driller 100% focused on the Marcellus/Utica emerged from bankruptcy in May, less than five months after filing (see Magnum Hunter Emerges from Bankruptcy with CEO Gary Evans Gone). As we observed at the time, we were surprised to read that MHR’s flamboyant CEO, Gary Evans, was gone from the company. In his place MHR named two of Evans’ lieutenants to serve as co-CEOs while the new board of directors looked for a permanent replacement for Evans. The search is over. MHR announced yesterday that John K. Reinhart has been named president and CEO of MHR. Reinhart has a good pedigree with 22 years of experience in the industry–most of it in the Marcellus/Utica region. Most recently Reinhart ran Ascent Resources–the company founded as American Energy Appalachia Holdings by Aubrey McClendon, later renamed to Ascent when it broke away from McClendon (see Big McClendon News: Sells 35K Utica Acres, Creates New Company). Reinhart has also worked for Chesapeake Energy and Schlumberger. Here’s the poop on MHR’s new leader…

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