OKLAHOMA CITY, April 8, 2013 (GLOBE NEWSWIRE) -- PostRock Energy Corporation (Nasdaq:PSTR) today provided an update on its production and capital projects for the first quarter of 2013. During the quarter, approximately $9 million was spent on development. Net oil sales during the quarter averaged slightly more than 360 Bbls a day, a 77% increase from the first quarter of 2012. At March 31 st, net oil production exceeded 500 Bbls per day. Net gas sales during the period declined 13% from the prior year to an average of 41.3 MMcf per day. The decline in gas production was due to suspension of development spending on gas projects since September 2011 due to low prices. The gas production decline was amplified by challenging weather during the first quarter. Based on PostRock's first quarter 27:1 realized price equivalency ratio of oil to natural gas, production in the first quarter increased very slightly from the fourth quarter of 2012. If the projects described below continue to be successful, a more meaningful rate of increase should be achieved as the year progresses.
PostRock Provides Operations Update
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