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Share Name | Share Symbol | Market | Type |
---|---|---|---|
PostRock Energy Corporation (CE) | USOTC:PSTRQ | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
The Company also updated the status of its hedge position. On November 27th, PostRock monetized the last of its preexisting 2013 NYMEX gas swaps for $15.4 million. Combined with the recent previously announced hedge monetization, a total of $30.2 million of proceeds was realized in November. All of the proceeds were used to reduce debt. On December 12th, the Company entered into new natural gas swaps covering periods from April 2013 through 2016. The following table summarizes its current hedge position.
2013 | 2014 | 2015 | 2016 | |
Natural Gas Hedges | ||||
NYMEX Gas Swaps | ||||
Volume (MMBtu) | 3,747,285 | 4,324,032 | 3,755,184 | 3,765,840 |
Weighted Average Price ($/MMBtu) | $3.95 | $3.95 | $3.95 | $3.96 |
Southern Star Basis Swaps | ||||
Volume (MMBtu) | 9,000,003 | -- | -- | -- |
Weighted Average Price ($/MMBtu) | ($0.71) | -- | -- | -- |
Oil Hedges | ||||
NYMEX Oil Swaps | ||||
Volume (Bbls) | 65,892 | 61,680 | 58,164 | 53,892 |
Weighted Average Price ($/Bbl) | $101.70 | $97.00 | $93.40 | $91.10 |
The White Deer investment and the hedging transactions have positioned the Company to finalize a new credit facility. That transaction is expected to close later this week.
The PostRock Energy Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7221
Forward-Looking Statements
Opinions, forecasts, projections and statements that are not historical facts are forward-looking statements that involve risks and uncertainties. Such statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although the Company believes that expectations reflected in these statements are reasonable, it can give no assurance they will prove correct. Actual results may differ materially due to factors which may not be foreseen by PostRock. These risks and others are detailed in the Company's filings with the Securities and Exchange Commission, including risk factors listed in the Annual Report on Form 10-K and other SEC filings. These filings may be found at www.pstr.com or www.sec.gov. In making forward-looking statements, the Company undertakes no obligation to update these statements.
CONTACT: Company Contact: North Whipple Director, Finance & Investor Relations PostRock Energy Corporation nwhipple@pstr.com (405) 702-7423
1 Year PostRock Energy (CE) Chart |
1 Month PostRock Energy (CE) Chart |
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