Recovery Energy Inc trades in the stock market under the ticker symbol of RECV. Search for the ticker of any public company above using the get 'Company or Ticker' search in blue.

Who is Recovery Energy Inc?

Recovery Energy Inc., a development stage independent oil and gas company, engages in the acquisition, drilling, and production of oil and natural gas properties and prospects in the United States. It holds interests in approximately 20,800 gross leasehold acres. The company is based in Denver, Colorado.

Last $1.58 USD
Change Today -0.1256 / -7.36%
Volume 100.0
As of 10:19 AM 06/6/13 All times are local (Market data is delayed by at least 15 minutes).

recovery energy inc (RECV) Snapshot

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10/10/12 - $4.95
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04/4/13 - $1.34
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recovery energy inc (RECV) Key Developments

Recovery Energy, Inc. announced delayed annual 10-K filing

On 04/01/2013, Recovery Energy, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Recovery Energy, Inc. Provides Capital Budget for 2013

Recovery Energy, Inc. provided capital budget for 2013. The company's 2013 capital budget is currently projected to be approximately $15 million, but is subject to securing sufficient capital to support planned drilling and development expenses. The company anticipates that approximately 50% of this budget will be allocated toward the development of two of its unconventional prospects located in the Wattenburg field of the DJ Basin that will target horizontal drilling and development of the Niobrara shale and Codell formations. The remainder of the company's 2013 budget is anticipated to be directed principally toward the conventional development of certain lower risk offset wells to existing production. The company also anticipates the allocation of approximately 10% of its 2013 capital budget toward higher risk exploration activities, including the procurement of seismic data and the drilling of one conventional exploratory well. The company's 2013 capital expenditure budget is subject to various factors, including availability of capital, market conditions, oilfield services and equipment availability, commodity prices and drilling results. Results from the wells identified in the capital budget may lead to additional adjustments to the capital budget as the cash flow from the wells could provide additional capital which the Company may use to increase its capital budget.

Recovery Energy Seeks Acquisitions

Recovery Energy, Inc. is looking for acquisition opportunities. Chairman of the Board and Chief Executive Officer of Recovery Energy, W. Phillip Marcum said, "On the exploration front, we intend to run an additional 20 square miles of 3D seismic at our Stateline Prospect area in Laramie County, Wyoming and Banner and Kimball Counties in Nebraska. We also plan to acquire more 3D seismic in our Pine Bluff's Prospect area in Laramie County, Wyoming, which is geologically analogous and just east of the Silo Field. We will be reviewing and interpreting the potential for the Niobrara, Codell, Greenhorn, 'J' sandstone and Permo-Penn horizons. We also will be continuing to evaluate other prospect areas including the "Southeast Hartville Uplift" Prospect in Goshen County, Wyoming, where our leasehold is located in an unconventional, shale-rich fairway of the Pennsylvanian DesMoines Series play. This area holds multi-pay potential in the Permian sandstones, dolomites, and shales of the Admire, Council Grove (Wykert Sandstone), and Chase (Cassa Sandstone, Amazon Dolomite) Groups, as well as unconventional Niobrara, Codell and Greenhorn targets.”

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RECV:US $1.58 USD -0.1256

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Price/Sales 5.2x
Price/Book 3.1x
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