From Magnum Hunter Resources today:
HOUSTON, TX--(Marketwired - Aug 7, 2014) - Magnum Hunter Resources Corporation (
Eureka Hunter Pipeline, LLC, a majority-owned subsidiary of the Company, will continue to maintain its corporate headquarters in Houston, Texas.
Magnum Hunter Management Comments
Mr. Gary C. Evans, Chairman of the Board and Chief Executive Officer of Magnum Hunter, commented, "Our Board of Directors and senior management have been considering this move for over a year, following the sale of our Eagle Ford assets in April 2013. Because our future growth potential is focused primarily in the Marcellus Shale and Utica Shale in West Virginia and Ohio, there is no longer any strategic reason to maintain both a corporate office in Houston and accounting department offices in the Dallas area. Additionally, not only do we gain the synergies of having all corporate personnel under one roof, we also expect to achieve significant G&A savings, including a reduction in travel expenses. Senior management is actively reviewing available office lease space predominantly in the Las Colinas area of the Dallas/Fort Worth Metroplex."
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are a Houston, Texas-based independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the States of West Virginia, Ohio, and North Dakota. The Company is presently active in three of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, and Williston Basin/Bakken Shale.
|Aug 07, 2014|
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