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Magnum Hunter Cuts Workforce; Talks 4Q Appalachian, Bakken Ops
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Magnum Hunter Resources Corporation reported financial and operating results for the three months and twelve months ended December 31, 2014.
The company also noted that it has reduced its corporate offices and headcount to combat low oil prices.
Highlights: Oil and gas revenue increased 21.7% to $268.5 million for the year ended 2014, compared with revenue of $220.7 million for the year ended 2013 Adjusted EBITDAX(a) for the fourth quarter of 2014 and full year 2014 were $25.9 million and $150.5 million, respectively Adjusted net loss(a)of ($0.24) and ($0.65) per diluted share is reported for the fourth quarter of 2014 and full-year 2014, respectively Net gain/(loss) of $0.21 and ($1.32) per diluted share is reported for the fourth quarter of 2014 and full-year 2014…- ✓ Full news archive — U.S., Canada & international coverage
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