GMX Grows Year-End Reserves to 35.6MMBOE
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GMX Resources Inc. has detailed its year-end 2012 reserve report in regard to its Bakken assets and Haynesville/Bossier/Cotton Valley pricing.
The Company's year-end 2012 reserve estimates were prepared by DeGolyer and McNaughton, an independent reserve engineering firm. Total estimated proved reserves were 35.6 million BOE. Based on these estimated proved reserves, the following reserve changes are reflected in the report:
Bakken PDP Growth vs. 2011 PDP reserves of 1.7 MMBOE, up 430%; PDP PV-10 of $38.7 million, up 295% Bakken PUD Growth vs. 2011 2012 PUD reserves of 7.1 MMBOE, up 1,321% 2012 PUD PV-10 of $50.4 million, up 1,020% 21.5 net Bakken PUDs in 2012 vs. 1.85 in 2011 Bakken Total Proved Growth vs. 2011 2012 total proved reserves of 8.9 MMBOE, up 971% Bakken 2012 total PV-10…- ✓ Full news archive — U.S., Canada & international coverage
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