Scandoil  

Magnum Hunter Resources hires advisors to explore strategic alternatives


Published Oct 13, 2015
Magnum Hunter Resources Corporation-2

Magnum Hunter Resources Corporation has hired PJT Partners LP (the combination of Blackstone's advisory businesses and PJT Capital LP, a global financial advisory firm founded by Paul J. Taubman), as financial advisor, and Kirkland & Ellis LLP, as special legal advisor, to advise management and the Company's Board of Directors regarding potential strategic alternatives to enhance liquidity and address the Company's current capital structure. As previously disclosed, the Company has actively worked to manage its balance sheet, including potential consummation of certain asset sales. With the addition of these advisors, the Company will continue to develop and explore all potential strategic alternatives.

To preserve liquidity as the Company considers these strategic alternatives, the Board of Directors of the Company has suspended the monthly dividends on its 10.25% Series C Cumulative Perpetual Preferred Stock, 8.0% Series D Cumulative Preferred Stock and 8.0% Series E Cumulative Convertible Preferred Stock. This suspension commences with the monthly cash dividend that would otherwise have been declared and paid for the month ending October 31, 2015 and will continue indefinitely.

Tags: Magnum Hunter Resources Corporation




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml