GMX Resources Inc. (GMXR) Updates Texas Oil And Gas Operations
GMX Resources Inc. issued an operations update on its oil and gas properties located in East Texas. The company has more than 42,000 net acres under lease that has exposure to various formations in the area. GMX Resources Inc. reported that the company produced 4.2 billion cubic feet equivalent (Bcfe) of natural gas in the quarter ending June 30, 2010. This was in line with the company’s guidance given earlier in the year. GMX Resources Inc. said that production of 4.2 Bcfe was a record for the company, and represented sequential growth of 31% over the first quarter of 2010,…