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GMX Resources Inc. Message Board

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  • arc871 arc871 Nov 14, 2012 6:29 PM Flag

    Henry Hub is Up 9 Cents to a Record 2012 High of $3.66 on Normal Volume


    Long time poster - holder - currently out after the run up but am buying in at .60 or .80 whatever hits first. If NG gets to 4.5, what does that mean for GMXR? I understand that we are hedged at lower prices - but am unclear when this hedging expires. At what NG price does the revenue of GMXR begin to significantly change? My understanding is that GMXR has significant NG resources that can be exploited if the price were to move up. I am just wondering what sort of price would we need to see to make a significant impact?

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    • From the 10Q, Page #14:
      "The combination of these trades effectively locks in a sales price to GMXR of $2.52 for 1.24 BCF during the last 3 months of 2012, and $3.42 for 4.24 BCF during 2013. "

      Basically; GMXR is Hedge on only 50% of of Production
      There is a Big upside since the other 50% is what the Market pays;
      the 3rd quarter Unhedged price was only $2.23(see page #30 of 10Q).
      A $1.00 increase in price is approx $1.3 Million increase in Revenue.



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