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US shale firm exits bankruptcy to find just-as-tough new chapter

Founder says survival in industry cannot be taken for granted if energy prices do not recover soon

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Mr Evans founded Magnum Hunter Resources in 2009 and drove its breakneck expansion via acquisitions, debt and new shares during the shale drilling boom.

New York

MAGNUM Hunter Resources Corp and its founder Gary Evans are emblematic for the US shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of debt when prices crashed.

Now, the oil and gas company is among the first