Magnum Hunter: Appalachia Production Remains Curtailed
by Magnum Hunter Resources Corp.
|Thursday, July 12, 2012
Magnum Hunter Resources Corporation has provided a status update on the Company's shut-in production in the Appalachia region from a severe thunderstorm that hit the area almost two weeks ago. Due to loss of electricity in the region, the Company has continued to experience gas production curtailments at the tailgate of its pipeline into Dominion Transmission at their Hastings processing facility located in Hastings, West Virginia. Currently, approximately 10% (8.4 mmcfepd) of Magnum Hunter's current total net production or 17% of the Company's Appalachia production is being curtailed, which is more than originally anticipated. Based on representations from Dominion Transmission, we expect the curtailments to continue for at least the next several weeks, and have no indication on when the Hastings processing facility will return to normal capacity.
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