GMX Resources November operating loss grows to $1.8 million; sales up

By Lisa Kerner

Charlotte, N.C., Dec. 23 - GMX Resources, Inc. posted an operating loss of $1.8 million for November on total revenue of $2.35 million, according to its monthly operating report filed Dec. 23 with the U.S. Bankruptcy Court for the Western District of Oklahoma.

Those figures compare to the $823,520 million operating loss reported for October on total revenue of $2.01 million.

The net loss for November was $6.02 million, widening from a $4.68 million October net loss.

The company also reported cash and cash equivalents of $7.28 million as of Nov. 30, up from $1.55 million at the end of October.

Oklahoma City-based GMX Resources explores, develops and produces properties for the production of crude oil and natural gas. The company filed Chapter 11 bankruptcy on April 1, 2013 under case number 13-11456.

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