Preferred Stock Offerings
By Ru Back Packer Staff, updated Thursday, February 1, 3:22 AM
Slide #364. Magnum Hunter Resources Corporation — Preferred Stock Offering
||Magnum Hunter Resources Corporation (MHR)
|Date of Pricing:
|Price Per Share:
|Preferred Stock Offering Details:
||Magnum Hunter Resources Corporation announced that it has priced an underwritten public offering of depositary shares, each representing a 1/1,000th interest in a share of its 8% Series E Cumulative Convertible Preferred Stock (with a liquidation preference of $25,000 per share, which is equivalent to $25 per Depositary Share) (the "Series E Preferred Stock"). The Company is offering 1,000,000 Depositary Shares at a public offering price of $23.50 per share. In connection with the offering, UBS Investment Bank, MLV & Co. LLC and Wunderlich Securities, Inc. have acted as joint book running managers.
Magnum Hunter Resources is an oil and gas company engaged mainly in the exploration for and the exploitation, acquisition, development and production of natural gas and natural gas liquids resources, along with certain oil field service activities and a substantial investment in midstream operations. Co.'s Appalachian Basin drilling operations are focused on development in Marcellus Shale and Utica Shale underlying West Virginia and Ohio. As of Dec 31 2014, Co. had about 83.8 million barrels of oil equivalent of estimated proved reserves. Co.'s proved reserves consisted of 10.5 million barrels (mmbbl) of oil, 14.4 mmbbls of natural gas liquids, and 353.00 billion cubic feet of natural gas.
Preferreds: MHR.PRC, MHR.PRD, MHR.PRE
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