Texas investor trying to take over Magnum Hunter Resources Corp.
Sunday, October 4, 2015
According to Columbus Business First, an energy consultant from Austin, Texas, has plans to takeover Utica-focused Magnum Hunter Resources Corp.
Dallas Salazar, CEO of Atlas Consulting, allegedly has stakeholder support. Salazar hopes that Magnum Hunter’s management will cooperate with suggested changes, though.
Magnum Hunter has corporate headquarters near Houston in Irving, Texas. The company is largely focused on Utica Shale development. Earlier this year, Magnum Hunter attempted to raise funds to pay back debts to its lenders.
Via: Columbus Business First > EXCLUSIVE: Activist investor gathering support for takeover attempt at Utica shale driller Magnum Hunter
More about Magnum Hunter:
- Magnum Hunter looks to raise cash through two deals Aug. 14, 2015
- Magnum Hunter finds a way to pay back debt by July 10 July 1, 2015
- Magnum Hunter needs to raise $9 million by July 10 June 27, 2015
- Magnum Hunter to sell Tyler County, West Virginia, acreage June 1, 2015
- West Virginia well puts state’s shale on the map Oct. 18, 2014
- New West Virginia well races to top of Utica production records Sept. 29, 2015
- New Contender in the Utica April 22, 2013
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Depending on the company, royalty payments can arrive monthly or quarterly.
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Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
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Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.