Thursday, June 14, 2012

$GMXR Lowers Production Guidance for Q2 2012

The company also gives a production guidance update in this afternoon's press release,

"The second quarter 2012 production is expected to be in a range of 539,000 to 543,000 BOE, which includes 60,000 to 65,000 Bbls of oil."
What's interesting about this is the unremarked-upon drop compared to the production guidance from May 2, which was for "591,000 BOE, which includes 80,000 Bbls of oil and 94,000 Bbls of NGLs."

So, second quarter production guidance has plummeted by about 50,000 BOE, or 20,000 Bbls and an unknown quantity of NGLs. That is a lot of revenue, and a big percentage decline!

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