Reuters logo
UPDATE 1-Magnum Hunter restarts 70 pct wells in Appalachia
July 2, 2012 / 5:11 PM / 5 years ago

UPDATE 1-Magnum Hunter restarts 70 pct wells in Appalachia

* Output of 30 mmcfepd hit by thunderstorm

* None injured

July 2 (Reuters) - Oil and gas company Magnum Hunter Resources Corp said it has restored 70 percent of its wells after a thunderstorm hit production in the Appalachia region on Friday afternoon.

The thunderstorm affected output of about 30 million cubic feet equivalent per day, the company said on Monday.

The Houston-based company expects all its wells to restart production over the next five days.

“None of the company’s personnel were injured during this severe storm,” the company said.

Magnum Hunter said the storm also hit gas production at its processing facility in Hastings, West Virginia and expects the curtailment to continue for several weeks.

About 17 percent of the company’s net production in the region is being curtailed.

Magnum shares, which have lost about 47 percent of their value in the last year, were down 1 percent at $4.13 on the New York Stock Exchange on Monday.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below