fair point -
I wonder how low Natural Gas will go as MHR is now largely a NG company but with heavy debt. I can't figure out their 2015 cash flow to really understand common outlook.
hmm... you don't consider 9.75% bonds yielding 18+% distress? Also, look at the hybrid debt (the preferred) they have been plummeting since S&P downgrade.
Yes, market is pricing MHR for a BK restructuring now - Eureka Hunter IPO is not going to happen anytime soon and MHR will have a hard time unloading their Bakken assets for anything meaningful.
so common stock is worthless.
Has relational decided to throw in the towel. This is unreal - I have no doubt now that its game over for MHR.
I really bought into the BS of MHR having made the smart move of getting out of Oil and focused on NG. In the end, it didn't seem to matter - if you are a lilliputian energy player, its game over.
Took a massive loss on this one...
Something does look amiss on slide 7.
I wonder if Eureka Hunter revenue was left out by mistake. How can they have such a huge miss ~$80M and not pre-announce it much earlier. Also, if they were hedged properly, their revenue cannot be a measly $25M in Q4 2014.