Magnum Hunter Resources Corp. divested the shallow well contract drilling rig services business of subsidiary Alpha Hunter Drilling LLC to an undisclosed buyer, the company said Jan. 3.
The proceeds from the transaction were used to retire debt associated with the drilling assets and to support general corporate purposes.
Magnum Hunter Resources Corp. is based in Irving, Texas.
Recommended Reading
Arctic Vortex Pumps Up Natural Gas Demand, But It Won’t Last
2024-01-16 - Cold temperatures caused higher gas usage and dropped production, but the spike in demand is unlikely to have lasting effects.
Rystad Sees Little Support for Henry Hub in Coming Weeks
2024-01-26 - Rystad Energy sees little support for Henry Hub prices in the U.S. as dry gas production rises after the Jan. 17 Arctic freeze that impacted all of the Lower 48 states.
Antero Poised to Benefit from Second Wave of LNG
2024-02-20 - Despite the U.S. Department of Energy’s recent pause on LNG export permits, Antero foresees LNG market growth for the rest of the decade—and plans to deliver.
DUG GAS+: Chesapeake in Drill-but-don’t-turn-on Mode
2024-03-28 - COO Josh Viets said Chesapeake is cutting costs and ready to take advantage once gas prices rebound.
Heard from the Field: US Needs More Gas Storage
2024-03-21 - The current gas working capacity fits a 60 Bcf/d market — but today, the market exceeds 100 Bcf/d, gas executives said at CERAWeek by S&P Global.