One of the top takeover candidates in North American shale plays is GeoResources, which boasts leaseholds in the Bakken Shale and the Eagle Ford, has a market capitalization of only $760 million. The company owns 46,000 net acres in the Bakken, of which it operates 33,200 acres. GeoResources has drilled and completed eight wells in a 25,000-acre block near the border between North Dakota and Montana. In 2012 the firm plans to drill between 23 and 26 gross wells in which it will have a 25 to 30 percent working interest.Personal note: it's been my observation that GEOI is getting more active in the Bakken through its wholly-owned subsidiary, G3 Operating.
Friday, January 27, 2012
GeoResources -- One of the Stronger Shale Oil Companies -- Seeking Alpha
Link here.