Eureka Hunter Announces the Appointment of Executive Vice President and Chief Operating Officer
March 24 2014 - 7:00AM
Marketwired
Eureka Hunter Announces the Appointment of Executive Vice President
and Chief Operating Officer
HOUSTON, TX--(Marketwired - Mar 24, 2014) - Eureka Hunter
Pipeline, LLC ("Eureka Hunter"), a majority-owned subsidiary of
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSEMKT: MHR.PRC)
(NYSEMKT: MHR.PRD) (NYSEMKT: MHR.PRE) ("Magnum Hunter" or the
"Company"), announced today that the Company has appointed
Christopher T. Akers as Executive Vice President and Chief
Operating Officer (COO) effective April 8, 2014. Mr. Akers, age 48,
will report to Gary C. Evans, Chairman & CEO of Eureka
Hunter.
Mr. Akers brings more than 25 years of pipeline experience,
including operations, engineering, project management and
construction, primarily within the midstream industry located in
Appalachia. Prior to joining Magnum Hunter, Mr. Akers served
as Vice President of Team Environmental LLC since 2013. He
previously served as Vice President Operations and Director of Gas
Control and Commercial groups at EQT Corporation, from 2001 to
2013. During his tenure at EQT Corporation, Mr. Akers was a key
member in the expansion of several hundred miles of pipeline, over
30 new compressor stations and two processing facilities. He
was a key contributor on mergers and acquisitions and helped
develop the strategic plans which focused on cost reduction,
increasing throughput and risk/safety management. Prior to
joining EQT Corporation, Mr. Akers served in various engineering,
operations and gas control roles at Dominion Transmission from 1991
to 2001 and Union Carbide from 1989 to 1991. He has served on the
board of West Virginia Oil and Natural Gas Association and chairman
of the Midstream group of SGA. Mr. Akers earned a Bachelor of
Science in Mechanical Engineering from West Virginia Institute of
Technology, and a Master of Business Administration from West
Virginia Wesleyan.
Magnum Hunter Management Comments
Mr. Gary C. Evans, Chairman of the Board and Chief Executive
Officer of Magnum Hunter Resources, commented, "After an extensive
search throughout the market over the past year in our goal to find
the right person with the correct credentials, proper background,
and extensive operational experience especially in the Appalachian
Basin, we believe we have finally accomplished this goal with the
hiring of Chris Akers. We continue to significantly expand our
scope of operations with the Eureka Hunter Pipeline System since we
initiated our first build out in 2010. This pipeline system has now
grown to over 100 miles of new 20 inch pipe that is hitting new
spot records of throughput volumes almost weekly with a recent peak
rate of 200 MMCF per day. With the local contacts and relationships
which have been established by Chris Akers throughout his career in
this region, we hope to continue to build out the necessary
management and operational team required to bring our ultimate
objective of 1 BCF per day in deliverability. It is important to
note that every molecule of natural gas produced by Magnum Hunter
Resources and its subsidiaries currently flow through this pipeline
system. We are one of the few that can handle both Marcellus and
Utica gas production on both sides of the Ohio River because of our
decision to bore under the river one year ago."
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation and subsidiaries are a
Houston, Texas-based independent exploration and production company
engaged in the acquisition, development and production of crude
oil, natural gas and natural gas liquids, primarily in the States
of West Virginia, Ohio, Kentucky, and North Dakota. The Company is
presently active in three of the most prolific unconventional shale
resource plays in North America, namely the Marcellus Shale, Utica
Shale, and Williston Basin/Bakken Shale.
Availability of Information on the Company's Website
Magnum Hunter is providing a reminder that it makes available on
its website (at www.magnumhunterresources.com) a variety of
information for investors, analysts and the media, including the
following:
- annual reports on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K and any amendments to those reports as
soon as reasonably practicable after the material is electronically
filed with or furnished to the Securities and Exchange
Commission;
- the most recent version of the Company's Investor Presentation
slide deck;
- announcements of conference calls, webcasts, investor
conferences, speeches and other events at which Company executives
may discuss the Company and its business and archives or
transcripts of such events;
- press releases regarding annual and quarterly earnings,
operational developments, legal developments and other matters;
and
- corporate governance information, including the Company's
corporate governance guidelines, committee charters, code of
conduct and other governance-related matters.
Magnum Hunter's goal is to maintain its website as the
authoritative portal through which visitors can easily access
current information about the Company. Over time, the Company
intends for its website to become a primary channel for public
dissemination of important information about the
Company. Investors, analysts, media and other interested
persons are encouraged to visit the Company's website
frequently.
Certain information included on the Company's website
constitutes forward-looking statements and is subject to the
qualifications under the heading "Forward-Looking Statements" below
and in the Company's Investor Presentation slide deck.
Forward-Looking Statements
This press release includes "forward-looking statements." All
statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Actual results could vary significantly from those expressed or
implied in such statements and are subject to a number of risks and
uncertainties. Although Magnum Hunter believes that the
expectations reflected in the forward-looking statements are
reasonable, Magnum Hunter can give no assurance that such
expectations will prove to be correct. The forward-looking
statements involve risks and uncertainties that affect operations,
financial performance, and other factors as discussed in filings
made by Magnum Hunter with the Securities and Exchange Commission
(SEC). Among the factors that could cause results to differ
materially are those risks discussed in the periodic reports filed
by Magnum Hunter with the SEC, including Magnum Hunter's Annual
Report on Form 10-K for the fiscal year ended December 31, 2013 and
its Quarterly Reports on Form 10-Q for the fiscal quarters ended
after such fiscal year. You are urged to carefully review and
consider the cautionary statements and other disclosures made in
those filings, specifically those under the heading "Risk Factors."
Forward-looking statements speak only as of the date of the
document in which they are contained, and Magnum Hunter does not
undertake any duty to update any forward-looking statements except
as may be required by law.
Contact: Cham King AVP, Investor Relations
ir@magnumhunterresources.com 832-203-4560