Magnum Hunter Resources Corp. (OTCMKTS:MHRC) Crashes After Reporting

The petroleum sector has always been a dog eat dog world, but it has been especially hard in recent months, as the oil crisis raged on. Quite a few companies have suffered terribly in that time – and Magnum Hunter Resources Corp. (OTCMKTS:MHRC) is one of those.

Truth be told, MHRC doesn’t look like it was doing that good a job making ends meet even before this huge pressure was dumped on it and others in the branch.

Its accumulated deficit to date is amounts to more than $1 BILLION. Still, at certain points it did seem like it could really start to show its potential.

The NYSE de-listing back in September all but squashed that dream – yet still the hope must have remained in some investors that things might get better.

Well, things didn’t get better – that much became obvious when the company’s latest 10-Q hit the web two days ago. What’s worse is the fact that it doesn’t look like things CAN get better for MHRC, or for anyone in the same boat for that matter. Not until oil prices start climbing the charts big time – and it doesn’t seem like that is going to happen in the foreseeable future.

This is probably why investors seem to be abandoning MHRC. Although it is a fully developed company with sizable revenues, the current set of circumstances has made it extremely difficult for such entities to even exist, let alone thrive.

MHRC‘s current situation is sad, in the same way a beached whale is a sad sight – an otherwise impressive giant whom cruel circumstances have left gasping for air. Unfortunately, there’s little even the most enterprising OTC Markets investor could do about either of those things – except be careful not to get squished.