MHR - Sector: Basic Materials---Industry: Oil & Gas Drilling & Exploration

[setravis]

Profile: 

Magnum Hunter Resources Corp.
777 Post Oak Boulevard
Suite 910
Houston, TX 77056
United States - Map
Phone: 832-369-6986
Fax: 832-369-6992
Website: http://www.magnumhunterresources.com

Details   
Index Membership: N/A
Sector: Basic Materials
Industry: Oil & Gas Drilling & Exploration
Full Time Employees: 165


Business Summary   

Magnum Hunter Resources Corporation, an independent oil and gas company, engages in the acquisition, development, and production of oil and natural gas primarily in West Virginia, North Dakota, Texas, and Louisiana. The company operates approximately 2,048 wells; and owns approximately 87,000 net acres, including approximately 46,000 net acres overlying the Marcellus Shale, as well as the shallow sandstones. As of December 31, 2009, it had estimated proved reserves of 6.2 million barrels of crude oil equivalent. The company was formerly known as Petro Resources Corporation and changed its name to Magnum Hunter Resources Corporation in July 2009. Magnum Hunter Resources Corporation is based in Houston, Texas.


Business Overview

BRIEF: For the fiscal year ended 31 December 2010, Magnum Hunter Resources Corporation's revenues totaled $32.7M, up from $6.8M. Net loss applicable to Common increased 59% to $24.7M. Revenues reflect an increase in oil & gas sales & the presence of field operations income and higher other income. Higher loss reflects by an increase in general & administrative expenses, higher Depreciation, depletion & accretion costs and increased lease operating expenses. http://www.magnumhunterresources.com/

[setravis]

Looks like this small cap oil and gas play is poised to BreakOut today !
Lifted off the 50-day MA...Nice surge in volume...

Day's Range: 7.89 - 8.62
52wk Range: 2.91 - 8.62
Volume: 2,900,142
Avg Vol (3m): 1,739,270
Market Cap: 645.34M
P/E (ttm): N/A
EPS (ttm): -0.25
Div & Yield: N/A (N/A)

Technicals
Last Price Quote is:
12.55%above 13-day EMA
18.75%above 50-day EMA
RS Rating: 88