Exploration & Production | Operational Updates | People | Hedging | Job Cuts / Downsize / Layoff | Capital Markets | Capital Expenditure
PostRock IDs 2015 Capital Budget, Hedges
Print
|
PostRock Energy Corporation has provided an update and set its 2015 capital budget.
Summary 2014 production, at the realized 21:1 gas-to-oil economic equivalency, increased over 2% from the prior-year. Oil production rose to 754 barrels per day, up 43% from the prior-year. December 2014 oil production averaged 929 BOPD. Gas production declined 9% to just over 36.2 MMcf per day. Revenue increased over 15% from the prior-year. Total operating expenses, including lease operating, gathering and G&A, decreased approximately $1.3 million from the prior year. Bank debt decreased nearly 10% to $83 million during the year. Cost reduction initiatives being implemented in 2015 are expected to further reduce operating costs by nearly $4.0 million annually. On a preliminary basis the 2015 capital…Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in