In the hunt: Magnum on NYSE
Magnum Hunter to list on NYSE
Houston-based independent Magnum Hunter Resources has received approval to
list its shares on the New York Stock Exchange.
Staff News wires
29 December 2010 19:53 GMT
Shares are expected to begin trading on the NYSE sometime during the first 10
trading days of next year, the company announced today.
Magnum Hunter is currently listed on the NYSE-Amex under ticker symbol MHR. It
will continue trading under that symbol.
Earlier this week, Magnum reached an agreement to acquire Kentucky-based NGAS
Resources in an all-stock deal worth about $98 million, including debt.
NGAS said the deal, which requires shareholder approval, combines its acreage
in Appalachia with Magnum’s stronger financial resources. It will increase
Magnum’s acreage in the basin by about 300,000 acres.
Separately, Magnum also said it agreed to buy oil and gas properties in the
Marcellus Shale in West Virginia for $39.8 million in cash and stock from
PostRock Energy Corporation.