Glori Energy (GLRI) Reports Q1 Loss of $0.07

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Glori Energy Reports First Quarter 2016 Operating and Financial Results

May 13, 2016 7:00 AM EDT

HOUSTON, May 13, 2016 /PRNewswire/ -- Glori Energy Inc. (NASDAQ: GLRI), an energy technology and oil production company focused on enhanced oil recovery using its proprietary AERO® System, today reported financial and operating results for the three months ended March 31, 2016.  

Stuart Page, Chief Executive Officer of Glori Energy, said, "During the first quarter, we executed a planned cost rationalization in the Coke field, shutting in wells that are not profitable at low oil prices and reducing overall field expenses. As a consequence, production was down sequentially, but the new production... More