Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
PostRock Gets to Work on Woodford, Hunton Ops Post-Acquisition
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PostRock Energy Corporation has announced its results for the year ended December 31, 2013.
Key Operating Results Based on a 27:1 oil-to-gas conversion (the Company's 2013 realized price differential), production increased 4% from the prior year. Oil sales doubled to an average of 527 net barrels a day. Gas sales averaged 39.8 net MMcf a day, an 11% decline. Based on a 6:1 oil-to-gas conversion, production declined 8%. Oil reserves increased 63% to 4.4 million barrels. Based on the 27:1 conversion noted above, oil now represents 58% of proved reserves. Gas reserves increased 24% to 86.6 Bcf. Based on the 27:1 conversion, gas now represents 42% of proved reserves. Key Financial Results Revenue totaled $72.3 million, up 32% from the prior year. Oil contributed 25+% of revenues…Finish this article — free account or subscription
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