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MarkWest Energy Partners, L.P. Message Board

  • klaimr2006 klaimr2006 May 2, 2013 9:31 AM Flag

    MHR current view on monetizaiton of their Marcellus/Utica pipelinenow looking to third party sale

    The Board of Directors of the Company continues to evaluate the overall asset mix of the Company with the goal to provide shareholders of the Company with the best possibilities for the creation, maintenance and enhancement of shareholder value, both near-term and long-term. In connection therewith, and consistent with the Company’s prior public comments, the Board is considering alternatives for the monetization of the Eureka Hunter Pipeline gas gathering system and associated operations, which may include the sale of these assets or the Eureka Hunter Pipeline entity to a third party, the purchaser of which could be either a strategic or financial buyer. However, the Board has not at this time made any definitive determination regarding any such transaction, and no assurance can be given that any such transaction will be completed or as to the structure or timing thereof."

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    • MHR was a past investment for me, mostly because of its Eureka assest. Management was not cutting it for me, especially when the CEO had to sale shares to pay for personal civil litigation. In addition they drilled MWE for the progress on Mobley. Now they face additional law suits. So now the hopes of getting into the 20's or so appear unachievable.

      I believe though I have not checked, that the Eureka line did cross the Ohio from the WVa side into Ohio. That would make it the second wet gas line coming into processing other than Dominions. This could be a distressed sale assuming the latest lawsuits and that Dominion and others NI, Blue Racer have already perhaps the upper hand in the Ohio Utica. Interested parties though could include NI, WMB/WPZ, EQT/EQM, XTEX, MWE, NFG, perhaps by a very long shot CONE or EGAS.

    • This is exactly the same position MHR was in almost 2 years ago. No change. They still have a spinoff into a MLP on the table. What I do know is nothing is going to happen until they get their financials up and current. Would MWE like to buy the assets - I would think yes, but only at the right price.

      • 1 Reply to arbtrdr
      • arb it is different this time. they had to put out a current report on item 7 and they specifically carved out and mentioned which alternative the BOD is considering other than an MLP which is a sale to a third party (in past they only used loose wording of "other transaction")

        "Item 7.01.

        Regulation FD Disclosure.

        As previously disclosed by Magnum Hunter Resources Corporation (the “Company”), the Company continues to evaluate its existing asset base to identify properties that could be monetized and the proceeds thereof used to reallocate to potential higher growth opportunities and/or to further enhance liquidity. The Company has also publicly commented from time to time that it anticipates that its majority-owned midstream operations, consisting primarily of its Eureka Hunter Pipeline gas gathering system located in West Virginia and Ohio, may be monetized as part of this strategy, through either a master limited partnership or other transaction.

        The Board of Directors of the Company continues to evaluate the overall asset mix of the Company with the goal to provide shareholders of the Company with the best possibilities for the creation, maintenance and enhancement of shareholder value, both near-term and long-term. In connection therewith, and consistent with the Company’s prior public comments, the Board is considering alternatives for the monetization of the Eureka Hunter Pipeline gas gathering system and associated operations, which may include the sale of these assets or the Eureka Hunter Pipeline entity to a third party, the purchaser of which could be either a strategic or financial buyer. However, the Board has not at this time made any definitive determination ..."

        shall

 
MWE
79.73+0.95(+1.21%)Aug 29 4:02 PMEDT

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