Harvest Oil & Gas Announces Divestiture of San Juan Basin Assets and Sale of Magnolia Oil & Gas Corporation Shares
Magnolia Oil & Gas Corporation Class A (MGY)
Last magnolia oil & gas corporation class a earnings: 2/19 04:11 pm
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Source: GlobeNewswire
HOUSTON, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) today announced that it has entered into a definitive agreement to sell all of its interests in the San Juan Basin in New Mexico and Colorado to an undisclosed buyer for $42.8 million (subject to purchase price adjustments). The transaction is expected to close in April 2019 and has an effective date of October 1, 2018. The Company plans initially to use net proceeds to reduce outstanding borrowings under its revolving credit facility. Harvest’s San Juan Basin production for the first nine months of 2018 averaged 23.7 MMcfe per day. The estimated proved reserves for the interests being divested, using fresh start accounting guidelines and SEC prices as of May 31, 2018 were 163.2 Bcfe (65% natural gas, 30% natural gas liquids and 5% crude oil) as previously detailed in the Company’s August 21, 2018 press release. UBS Investment Bank is acting as financial advisor and Kirk
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News
- Magnolia Oil & Gas Co. (NYSE: MGY) had its "hold" rating re-affirmed by analysts at Benchmark Co..MarketBeat
- Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick [Yahoo! Finance]Yahoo! Finance
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target raised by analysts at Susquehanna from $28.00 to $31.00. They now have a "positive" rating on the stock.MarketBeat
- Magnolia Oil & Gas Co. (NYSE: MGY) was downgraded by analysts at Piper Sandler from an "overweight" rating to a "neutral" rating. They now have a $29.00 price target on the stock.MarketBeat
- Magnolia Oil & Gas Co. (NYSE: MGY) had its price target raised by analysts at Wells Fargo & Company from $23.00 to $27.00. They now have an "equal weight" rating on the stock.MarketBeat
MGY
Earnings
- 2/14/24 - Miss
MGY
Sec Filings
- 4/10/24 - Form SC
- 4/5/24 - Form SC
- 3/21/24 - Form ARS
- MGY's page on the SEC website