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Magnum Hunter Resources Corp. Message Board

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  • rrb1981 rrb1981 Jan 4, 2011 7:51 PM Flag

    Stuff like this could impact MHR

    Jersey27fan,

    You guys see the big picture. As soon as I heard about the NGAS deal, I knew it had to be about the Weir oil play. Evans and company obviously think they can develop that acreage into a profitable oil play. What is nice is that the wells aren't difficult to drill.

    Even if the Weir oil play doesn't blossom overnight, the deal will end up being a decent buy as they can clearly make money on the wells now that the transportation agreement has been altered. The IRR of the upper Devonian wells is certainly not as good as the Eagle Ford and Marcellus, there is a lot to be said about having low risk wells that can be drilled with ease and brought online quickly.