PostRock Energy Corp. (PSTR, Financial) filed Quarterly Report for the period ended 2012-06-30.
Postrock Energy Corporation has a market cap of $25.9 million; its shares were traded at around $2.42 with and P/S ratio of 0.3.
Pipeline revenue increased $348,000, or 14.1%, from $2.5 million for the three months ended June 30, 2011, to $2.8 million for the three months ended June 30, 2012. The increase is a result of higher throughput from growing gas volumes associated with oil production in Osage County, Oklahoma.
Oil and gas sales decreased $17.5 million, or 41.9%, from $41.8 million during the six months ended June 30, 2011, to $24.3 million during the six months ended June 30, 2012. Lower natural gas prices resulted in decreased revenues of $14.8 million and lower gas production volumes decreased revenue by $3.1 million. These decreases were slightly offset by increased oil revenue of $423,000 resulting primarily from the 13.2% increase in production volume. Our average realized natural gas equivalent prices decreased from $4.44 per Mcfe for the six months ended June 30, 2011, to $2.79 per Mcfe for the six months ended June 30, 2012.
Gathering revenue decreased $1.7 million, or 59.4%, from $2.9 million for the six months ended June 30, 2011, to $1.2 million for the six months ended June 30, 2012. The decrease is primarily due to the settlement of the royalty lawsuit which lowered the rates that we receive for gathering royalty interest gas coupled with lower production volumes.
Pipeline revenue increased $603,000, or 10.7%, from $5.6 million for the six months ended June 30, 2011, to $6.2 million for the six months ended June 30, 2012. The increase is the result of gas being produced in Osage County, Oklahoma, in connection with oil drilling activity in the area.
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Postrock Energy Corporation has a market cap of $25.9 million; its shares were traded at around $2.42 with and P/S ratio of 0.3.
Highlight of Business Operations:
Oil and gas sales decreased $10.9 million, or 50.5%, from $21.5 million during the three months ended June 30, 2011, to $10.6 million during the three months ended June 30, 2012. Lower oil and natural gas prices resulted in decreased revenues of $9.1 million and lower gas production volumes decreased revenue by $2.2 million. These decreases were slightly offset by increased oil revenue of $441,000 resulting from the 20.0% increase in volumes. Our average realized natural gas equivalent prices decreased from $4.54 per Mcfe for the three months ended June 30, 2011, to $2.50 per Mcfe for the three months ended June 30, 2012.Pipeline revenue increased $348,000, or 14.1%, from $2.5 million for the three months ended June 30, 2011, to $2.8 million for the three months ended June 30, 2012. The increase is a result of higher throughput from growing gas volumes associated with oil production in Osage County, Oklahoma.
Oil and gas sales decreased $17.5 million, or 41.9%, from $41.8 million during the six months ended June 30, 2011, to $24.3 million during the six months ended June 30, 2012. Lower natural gas prices resulted in decreased revenues of $14.8 million and lower gas production volumes decreased revenue by $3.1 million. These decreases were slightly offset by increased oil revenue of $423,000 resulting primarily from the 13.2% increase in production volume. Our average realized natural gas equivalent prices decreased from $4.44 per Mcfe for the six months ended June 30, 2011, to $2.79 per Mcfe for the six months ended June 30, 2012.
Gathering revenue decreased $1.7 million, or 59.4%, from $2.9 million for the six months ended June 30, 2011, to $1.2 million for the six months ended June 30, 2012. The decrease is primarily due to the settlement of the royalty lawsuit which lowered the rates that we receive for gathering royalty interest gas coupled with lower production volumes.
Pipeline revenue increased $603,000, or 10.7%, from $5.6 million for the six months ended June 30, 2011, to $6.2 million for the six months ended June 30, 2012. The increase is the result of gas being produced in Osage County, Oklahoma, in connection with oil drilling activity in the area.
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