Filloon Comments On Magnum Hunter

Link to SeekingAlpha:

Magnum reported a Q2 loss of 18 cents/share. This missed estimates by 7 cents/share. Total revenues increased 98% year over year. 48% of this production was liquids. Oil and gas production increased 23% year over year. From this standpoint the company did well, but costs were also a big problem.

Magnum saw its LOE increase per barrel of oil equivalent. This was attributed to high costs in the Bakken, bringing liquids production on line. Company production was negatively impacted due to Appalachian well shut ins as a result of pipeline and liquids handling issues with its midstream assets. Magnum also had permitting issues in West Virginia.