Magnum Hunter Resources CEO says even if spends nothing on 2015 capex, still expects 100 percent production growth this year $MHR
Magnum Hunter Resources CEO on conference call just said believes oil prices stay low for next 12-18 months; does see $100 oil for long time
By Ernest Scheyder
WILLISTON, N.D. (Reuters) – Business leaders in the capital of North Dakota’s oil boom say they are optimistic the regional economy will stand up to slipping crude prices, confident that the clock can’t be turned back for one of the fastest-growing parts of the United States.
The positive outlook contrasts with the pervasive gloom settling over the No. 2 U.S. oil producer after a plunge of more than 60 percent in crude prices since June.