Gabe Scott moved to Corporate Development for Eureka Hunter Pipeline, LLC
HOUSTON, TX--(Marketwire - Jan 9, 2013) - Magnum Hunter Resources Corporation ( NYSE : MHR ) announced today that the Company has appointed Chris Benton as Assistant Vice President of Finance and Capital Markets effective January 8, 2013.
The Company's current Vice President of Capital Markets and Investor Relations, Gabe Scott, has been moved to a new role as Vice President of Finance and Corporate Development for Eureka Hunter Pipeline, LLC ("Eureka Hunter"), a subsidiary of Magnum Hunter.
Scott , is a good move for the company , if you follow the players there , it's a possitive improvement , and it strengthens the upper managent, MHR is not top heavy with managent like other oil company's , with their growth rate with land acquisitions and output they need more top players. It's all part of the company build out, now there are many company's like SD and KOG who have over done there managent team and need to scale back, MHR runs mean and lean , with their growth to continue at a strong rate they will need more key players .
Moving Scott is good for MHR shareholders as it helps to establish a more substantial management team for Eureka that, in turn, will make that company more attractive for spinning off and maximizing MHR shareholder value later this year. Benton may, or may not, be as good as Scott is right now, so it is unclear whether this is a strong management decision for MHR -- my guess is Evans considered the benefits of putting Scott with Eureka as greater than the loss associated with pulling out of MHR's corporate core management team. I am surprised this move did not gain a more positive reaction from the investment community given its potential positive impact on future PPS. Just my two cents. Lex