GMX operating loss widens to $1.44 million in August; revenue falls

By Caroline Salls

Pittsburgh, Sept. 26 - GMX Resources, Inc. posted an operating loss of $1.44 million for August on total revenue of $2.78 million, according to its monthly operating report filed Thursday with the Securities and Exchange Commission.

Those figures showed a decline from the $980,461 operating loss reported for July on total revenue of $3.27 million.

The net loss for August was $194,665, narrowing from a $5.7 million July net loss.

The company also reported cash and cash equivalents of $5.61 million as of Aug. 31, up from $1.84 million at the end of July.

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 in the U.S. Bankruptcy Court for the Western District of Oklahoma under case number 13-11456.

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