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Magnum Hunter Plans To Meet Spending Goals By Gutting Non-Core Assets

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By Darren Barbee, Hart Energy
December 12, 2013

For 2014, Magnum Hunter Resources (NYSE: MHR) has spun a $400 million capital expenditure budget on the bet that it will get a good price for its non-core assets.

The budget, announced Dec. 12, does not account for acquisitions Magnum is contemplating, including mineral leases in the Utica and Marcellus plays.

For now, Magnum is projected to outspend cash flow by nearly $300 million in 2014, though it will likely close the funding gap by selling assets during the next 12 months that are valued at $200-$400 million, said Gabriele ...

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