PostRock Energy Corporation Announces Revenue and Operating Results for the Full Year of 2014 and Operating Results for the Month of December 2014; Provides Capex and Production Guidance for the Full Year of 2015
For the month of December 2014 oil production averaged 929 BOPD. Gas production declined 9% to just over 36.2 MMcf per day.
For the full year, the company reported revenue increased over 15% from the prior-year.
On a preliminary basis the 2015 capital budget is set at $5.5 million, a reduction of over 80% from the prior year. This level of expenditures may be increased, depending on oil and gas prices.
For 2015, approximately 73% and 28%, respectively, of the company's anticipated natural gas and oil production is hedged at $4.01 per Mmbtu and $92.73 per Bbl.