Magnum Hunter Resources Q4 Loss Narrows - Quick Facts

(RTTNews) - Magnum Hunter Resources Corp. (MHR) Monday said fourth-quarter net loss attributable to common shareholders narrowed to $61.2 million or $0.36 share from $87.2 million or $0.52 per share for the same quarter last year.

Adjusted net loss was $0.14 per share, while it was $0.30 per share last year. On average, 17 analysts polled by Thomson Reuters expected a loss of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

Oil and gas revenues increased 64 percent to $59.4 million from $36.1 million for the fourth quarter of 2012, due to higher production and increased average realized commodity prices.

Midstream and marketing revenues surged to $18.2 million from $2.6 million, as a result of increased throughput volumes on the Eureka Hunter Pipeline System, improved utilization of TransTex Hunter, LLC's gas treating and processing equipment as well as higher third-party gas marketing volumes.

Wall Street expected revenues of $84.72 million for the quarter.

Oil and gas production increased 44 percent to 11,298 barrels of oil equivalent per day or BOEPD. During the quarter, production was impacted by shut-ins in the Appalachian region primarily due to the previously reported shut-down of MarkWest's Mobley processing facilities from August 2013 to early October 2013 as a result of a break in a MarkWest natural gas liquids pipeline.