Wednesday, September 26, 2012

GMX Resources Guidance Update ($GMXR)

The company continually disappoints with production guidance and actual production numbers. The latest from the investor presentation is no exception. It calls for:

3Q12 44 MBO, 2.2 Bcf & 12 MBNGLs
[FY]12 200 MBO, 9 Bcf & 200 MBNGLs
Notice, Q3 production is going to be down more than 30% from Q2 production of 64k bbl of oil.

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