PostRock Provides Operational Update
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PostRock Energy (PSTR) Updates on Central Oklahoma, Cherokee Basin; Will Sell Certain Assets
May 28, 2014 4:23 PM EDTPostRock Energy Corporation (Nasdaq: PSTR) provided an operations update. During the last 75 days, the Company has completed twelve workovers in Central Oklahoma. The average total cost per workover was approximately $275,000 and, collectively, the workovers have a projected IRR in excess of 100% at current oil and gas prices. This has resulted in the Company's current oil production rising to an average of 700 net barrels per day, 18% over first quarter levels. Within the next week, the Company expects to... More
