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GMX Resources (GMXR) agrees to sell a portion of its East Texas and Louisiana assets to an...

  • Monday, October 1, 2012, 6:04 PM ET
    GMX Resources (GMXR) agrees to sell a portion of its East Texas and Louisiana assets to an unnamed third party for $69M. GMXR will retain its entire Haynesville/Bossier natural gas resource base and other locations within its East Texas core position.
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    After listening in on the webcast: http://bit.ly/PedTIC and viewing their presentation, I think this was a smart move by GMXR. Decrease debt and focus on getting high flow wells using their fracture intersection technique to maximize well flow and stability. It looks like they are right next to the big boys and will have a lot of revenue flow soon. http://stks.co/cBcW
    5 Oct 2012, 04:26 AM Reply Like
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