Magnum Hunter Resources Corp. (MHR) Forms Natural Gas Gathering Joint Venture
Magnum Hunter Resources Corp. reported that the company has signed a letter of intent with a third party to create a joint venture for the purpose of building and operating a natural gas gathering system in West Virginia and Ohio. Eureka Hunter Pipeline, LLC, a wholly owned subsidiary of Magnum Hunter Resources Corporation, and DCP Midstream Partners, LP (DPM), will each own fifty percent of the joint venture. The natural gas gathering system will connect the Eureka Hunter Pipeline to infrastructure owned by DCP Midstream Partners, LP. Magnum Hunter Resources Corporation said that the total cost of the first phase…