GMX Resources (GMXR) Reports Large Increase in Production in The Second Quarter Of 2010
GMX Resources reported a large increase in oil and gas production in the second quarter of 2010, and due to the success of its drilling program, the company raised its estimate of oil and gas production for 2011 and 2012. GMX Resources produced 4.31 billion cubic feet equivalent in the quarter ending 6/30/2010. This was a 35% increase from the first quarter of 2010, when the company produced 3.20 billion cubic feet equivalent. GMX Resources said that the company’s production would have been higher, but several wells couldn’t be finished due to delays in completion services during the quarter. GMX…