Magnum Hunter Resources Corp
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| At the end of October, 2009 a news account appeared about Magnum Hunter making an agreement to purchase all of the oil and gas exploration and production assets of Triad Energy of Reno, Ohio (''not the same as Triad Energy of Texas''). Triad is an E & P company with an exclusive focus on the Appalachian region especially in Kentucky, [[Ohio]], and [[West Virginia]]. This consists of roughly 88,500 net acres that are 75% held by production. 47,000 net acres of this total are underlain by the Marcellus shale formation. | At the end of October, 2009 a news account appeared about Magnum Hunter making an agreement to purchase all of the oil and gas exploration and production assets of Triad Energy of Reno, Ohio (''not the same as Triad Energy of Texas''). Triad is an E & P company with an exclusive focus on the Appalachian region especially in Kentucky, [[Ohio]], and [[West Virginia]]. This consists of roughly 88,500 net acres that are 75% held by production. 47,000 net acres of this total are underlain by the Marcellus shale formation. | ||
| - | At the end of January, 2010 more details emerged about this deal when it was approved by the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division who was oversaw Triad Energy Corp.'s Plan of Reorganization. The acquisition by Magnum Hunter of Triad covered the latter's 2,000 operating wells as well as the aforementioned acreage. The deal was set to close on or before February 15, 2010. | + | At the end of January, 2010 more details emerged about this deal when it was approved by the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division who oversaw Triad Energy Corp.'s Plan of Reorganization. The acquisition by Magnum Hunter of Triad covered the latter's 2,000 operating wells as well as the aforementioned acreage. The deal was set to close on or before February 15, 2010. |
| * Gary C. Evans is Chairman of Magnum Hunter Resources Corp. | * Gary C. Evans is Chairman of Magnum Hunter Resources Corp. | ||
| * M. Bradley Davis is Magnum Hunter's Senior Vice President of Capital Markets. | * M. Bradley Davis is Magnum Hunter's Senior Vice President of Capital Markets. | ||
Revision as of 22:55, 30 January 2010
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Houston, Texas-based Magnum Hunter Resources Corp is an oil and gas exploration company with no previous known presence in the Marcellus shale play.
At the end of October, 2009 a news account appeared about Magnum Hunter making an agreement to purchase all of the oil and gas exploration and production assets of Triad Energy of Reno, Ohio (not the same as Triad Energy of Texas). Triad is an E & P company with an exclusive focus on the Appalachian region especially in Kentucky, Ohio, and West Virginia. This consists of roughly 88,500 net acres that are 75% held by production. 47,000 net acres of this total are underlain by the Marcellus shale formation.
At the end of January, 2010 more details emerged about this deal when it was approved by the U.S. Bankruptcy Court for the Southern District of Ohio, Eastern Division who oversaw Triad Energy Corp.'s Plan of Reorganization. The acquisition by Magnum Hunter of Triad covered the latter's 2,000 operating wells as well as the aforementioned acreage. The deal was set to close on or before February 15, 2010.
- Gary C. Evans is Chairman of Magnum Hunter Resources Corp.
- M. Bradley Davis is Magnum Hunter's Senior Vice President of Capital Markets.
