GMX offers update on operations
Oklahoma City-based GMX Resources Inc. provided an operations update Friday, saying it has retired the remaining balance of its 5 percent convertible senior notes due 2013 and has no more debt maturities until May 2015. GMX also said that in the fourth quarter of 2012, it produced about 55,100 barrels of oil, 1.4 billion cubic feet of natural gas and 23,800 barrels of natural gas liquids. The company's oil production increased 319 percent from the fourth quarter of 2011. For the full year, GMX produced about 203,500 barrels of oil, 8.9 billion cubic feet of natural gas and 237,500 barrels of natural gas liquids. Crude oil production increased 119 percent from 2011.
From staff reports