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Magnum-Prize combination will have 1 Tcfe of reserves. (Company Briefs).(Brief Article)(Statistical Data Included)
Publication: Oil and Gas Investor Publication Date: 01-FEB-02 Author: Wetuski, Jodi
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COPYRIGHT 2002 Access Intelligence, LLC.
Magnum Hunter Resources Inc. (Amex: MHR) and Prize Energy Corp. (Amex: PRZ) will combine to form an independent with an enterprise value of approximately $1.2 billion.
The increased size should allow executives to take better advantage of acquisition opportunities and gain more attention from capital markets. "We all recognize that the next 12 months will be rocky," says Magnum Hunter chairman and president Gary C. Evans. "When opportunities come about, we want to be in financial shape to take advantage of them."
The combined company, which would retain Magnum...
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