What On Earth is Magnum Hunter Resources Up to in Australia?
There are lots of things that investors would like to see from Magnum Hunter Resources and getting involved in a bidding war over Australian oil and gas producer Ambassador Oil & Gas is likely not one of them. Ambassador does have some large exploration licenses in one of Australia's most promising shale gas formations, and Magnum Hunter does already have a position there, but trying to outbid another Australian company for the rights to Ambassador doesn't seem to be in the best interest of Magnum Hunter today.
Find out why even though building a position in the Cooper Basin might be something worth revisiting down the road, Magnum Hunter should probably remained focused back here at home for now.
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The article What On Earth is Magnum Hunter Resources Up to in Australia? originally appeared on Fool.com.Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool. The Motley Fool recommends Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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