GeoMet, Inc., incorporated on November 9, 2000, is an independent energy company primarily engaged in the exploration for and development and production of natural gas from coal seams (coalbed methane or CBM) and non-conventional shallow gas. The Company’s principal operations and producing... More
Friday, Feb 149:53 AM
Friday, Feb 149:53 AM| Comment!
- Atlas Resource Partners (ARP +0.4%) agrees to acquire ~70B cfe of natural gas proved reserves in West Virginia and Virginia from GeoMet (GMET -10%) for $107M.
- Current net production from the properties is ~22M cfe/day from more than 400 active wells; ARP expects the acquisition to be immediately accretive to distributable cash flow.
- For GMET, the sale involves substantially all of its coalbed methane interests and other assets in the Appalachian Basin.
Tuesday, May 12012, 3:12 PM
Friday, Mar 92012, 4:24 PMGeoMet (GMET) says year-end 2011 estimated proved natural gas reserves totaled approximately 198 bcf, including approximately 49 Bcf acquired in a previously announced acquisition that closed in November, 2011. The present value of future net cash flows attributable to proved reserves at year end was approximately $173M. Shares spiked higher at the close to finish +15.9%. |Friday, Mar 92012, 4:24 PM| Comment!
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