Exploration & Production
GMX Resources To Focus on Bakken; Evaluating Niobrara Shale
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GMX RESOURCES INC., reports today on the financial and operating results for the second quarter ended June 30, 2012.
East Texas Liquids Rich Natural Gas Assets
The Company engaged Global Hunter Securities on July 17, 2012 as the financial advisor in connection with a proposed sale of a portion of the Company's Cotton Valley Sand liquids rich natural gas properties located in East Texas. The Proved Developed and Producing wells are in the mature stage of production with shallow decline rates. The assets being sold have additional upside through infill horizontal development on acreage that is all held by production. The Company currently expects the sale of these properties to occur during the third quarter of 2012, with the proceeds to be used for our Bakken drilling program.
Bakken
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