Magnum Hunter looks to sell interest in natural gas pipeline subsidiary

Magnum Hunter Resources Corp. is pursuing a sale of its stake in the company’s Ohio and West Virginia natural gas pipeline subsidiary, reports Columbus Business First. By divesting its 45.53% interest in Eureka Hunter, the company can raise between $600 million and $700 million, according to the newspaper. Business First also says that Magnum Hunter CEO Gary Evans said the sale's proceeds would enable the company to pay down $300 million to $400 million in debt and resume its drilling operations. For more, read the full story.

Ohio, West Virginia