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PostRock Sees 'Disappointing' Woodford Results; Cuts Workforce 25%
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PostRock Energy Corporation announced its results for the quarter ended March 31, 2015.
Highlights Revenue totaled $12.5 million, down 43% from the prior-year period. Realized oil and natural gas prices were down 53% and 42%, respectively, from the prior-year period. Production, using a realized 16:1 gas-to-oil economic equivalency, averaged 47.4 MMcfe per day, up 3% from the prior-year period. Gas production averaged 34.6 MMcf per day, down 5% from the prior-year period. Oil production averaged 799 barrels a day, a 34% increase from the prior-year period, and oil sales contributed to 26% of revenue, compared to 23% in the prior-year period. Excluding one-time costs related to employee severance, operating costs, consisting of production expense and general and administrative expense…Finish this article — free account or subscription
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