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GMX Resources (GMXR) +10.4% premarket after announcing the spudding of an eighth Bakken well in...

GMX Resources (GMXR) +10.4% premarket after announcing the spudding of an eighth Bakken well in North Dakota. GMXR has a 50% working interest in the Basaraba 24-35-1H, with a proposed total depth of 20,950 ft. and proposed total vertical depth of 11,221 ft. The well was spud with an Helmerich & Payne (HP) FlexRig 3.
Comments (1)
  • Stocks-Options
    , contributor
    Comments (693) | Send Message
     
    An item of good news for this risky investment. A 10 percent rise in West Texas Intermediate Crude helps, too.
    I'm in this for the preferred, but if the company plan for the Bakken and the Niobrara doesn't work, the preferred will go down with the common.
    Today is one leg up.
    3 Jul 2012, 03:47 PM Reply Like
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