One-Page Deal Sheet
GMX Resources Acquires 17,797 Acres in Bakken Shale Formation
Gmx Resources Inc. Not Disclosed
Announced Date
January 20,2011
Close Date
February 25,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
17
Asset/Basin:
{"Williston Basin"}
TargetZones:
{"Middle Bakken","Sa
Net Acres
Net Operated Locations:
Location
Region
Williston Basin
Country
United States
State
North Dakota
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GMXR's 26,087 total net acre leasehold for these acquisitions is primarily in five distinct areas, all of which are within the Bakken 'thermal maturity window'.
The consideration to be paid by us for the three Bakken transactions includes the issuance of shares of the Company's common stock. Two of the transactions, totaling 8,290 net acres (including 1,629 acres under the LOI), reflect an average purchase price of $4,665 per acre, with approximately 67% paid in common stock to be priced based on the volume weighted average closing price for the 15 consecutive trading days prior to and…
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