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Georesources Inc (GEOI)

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Last Post: 11/16/2012 4:58:07 PM - Followers: 4 - Board type: Free - Posts Today: 0

GeoResources, Inc., incorporated in 1958, is an independent oil and gas company engaged in the acquisition and development of oil and gas reserves through an active and diversified program, which includes purchases of reserves, re-engineering, development and exploration activities focused in three United States areas, including the Southwest and Gulf Coast, the Rocky Mountains and the Williston Basin. On April 17, 2007, the Company merged with Southern Bay Oil & Gas, L.P. (Southern Bay) and a subsidiary of Chandler Energy, LLC (Chandler) and acquired certain Chandler-associated oil and gas properties. In February 2007, the Company acquired properties located in the Giddings Field of the Austin Chalk trend of Texas. In October 2007, it acquired all of the limited partnership interest in AROC Energy, L.P. As of March 24, 2008, the Company had three gross (.79 net) wells in the process of drilling.

Black Warrior Basin Fields

The Black Warrior Basin Fields is located in Alabama and Mississippi. The properties include several fields with 39 producing wells. Production is from reservoirs consisting of Mississippian-aged sands. Some wells are on rod-pump while the majority of wells flow directly into low pressure gathering systems. During the year ended December 31, 2007, the aggregate gross production rate is 1.3 thousand cubic feet per day (MMCFD). The majority of the wells are operated by the Company, which has an average working interest of 60% and an average net revenue interest of 46%.

 

Chittim Field

The Chittim Field is located in Maverick County, Texas. The field consists of 44 producing wells which produce from the Cretaceous Glen Rose interval. All of the wells flow into a low pressure gathering system at a aggregate gross rate of 4.8 MMCFPD during 2007. The majority of the wells are horizontal producers. The field is operated by the Company, which has an average working interest of 47% and an average net revenue interest of 36% in 2007.

Driscoll Field

The Driscoll Field is located in Duval County, Texas. This field consists of 46 producing wells, which produce from the Jackson/Yegua interval. The field produces with the aid of rod pumps and the aggregate gross production rate during 2007 is 155 BOD and 425 MCFPD. The field is operated by the Company, which has an average working interest of 98% and an average net revenue interest of 86%.

Eloi Bay Field complex

The Eloi Bay Field complex is located in state waters offshore St. Bernard Parish, Louisiana. The field (including the adjacent Chandler Sound Block 71) is located in 5 to10 feet of water. This non-operated field has approximately 50 producing wells on gas lift in the Miocene section. The aggregate gross production during 2007 is 1060 BOPD. The Company’s working interest varies between 12.5% and 50%. The average working interest is 46% and the average net revenue interest is 39% in 2007.

Frisco and Fordoche Fields

The Frisco and Fordoche Fields is located in Pointe Coupee Parish, Louisiana. The fields consist of 24 producing wells, which produce from the Frio and multiple Wilcox sand intervals. All the wells are on rod-pump or hydraulic lift with an aggregate gross rate of 279 BOPD during 2007. The fields are operated by the Company, which has an average working interest of 70% and an average net revenue interest of 55% during 2007.

Giddings Field

The Giddings Field is located in Brazos, Burleson, Fayette, Grimes, Lee, and Washington Counties, Texas. The properties consist of 65 producing wells, which produce from the Cretaceous Austin Chalk interval. All the wells are horizontal producers utilizing rod pumps, compression and other methods to produce the aggregate gross rate of 110 barrels of oil per day (BOPD) and 37 MMCFPD. The field is operated by the Company, which has an average direct working interest of 6.7% and a net revenue interest of 5.2%. In Grimes County, however, where a majority of production and development is located, the Company has a working interest of 7.2% and average net revenue interest of 5.6%. In addition, the Company is the General Partner of a partnership which owns an average 77% working interest with an average 66% net revenue interest in 39,977 gross (35,391 net) acres. The Company’s 2% partnership interest reverts to 35.66% when the partnership realizes a contractual specified rate of return.

Harris Field

 

The Harris Field is located in the Gaines County, Texas. This field consists of six producing wells, which produce from the San Andres interval. The field produces with the aid of rod pumps and the gross production rate is 67 BOPD during 2007. The field is operated by the Company, which has an average working interest of 76% and an average net revenue interest of 57%.

Landa Field

The Landa Field located in Bottineau County, North Dakota. This field consists of 13 producing wells, which produce from the Spearfish and Mississippian Madison intervals. The field is operated by the Company, which an average working interest of 92% and average net revenue interest of 78%. The gross production is 63 BOPD during 2007.

MAK Field

 

The MAK Field is located Andrews County, Texas. This field is operated by the Company and it consists of 13 producing wells, which produce from the Spraberry interval. The field produces with the aid of rod pumps and the gross production rate is 145 BOPD and 55 MCFPD from 91% working interest during 2007.

 

New Mexico Fields

The New Mexico Fields are located in Eddy and Lea Counties, New Mexico. This area consists of three fields with 45 producing wells. Production is from the Seven Rivers, Queen, Grayburg and San Andres formations. The wells are on rod pumps and the aggregate gross production rate is 100 BOPD during 2007. The fields are operated by the Company, which has an average working interest of 94% and an average net revenue interest of 76%.

Odem Field

The Odem Field is located in San Patricio County, Texas. This field consists of 65 producing wells, which produce from multiple Frio sands. The field produces with the aid of rod pumps, compression and gas lift with the gross production rate of 160 BOPD and 1.8 MMCFPD during 2007. The field is operated by the Company, which has an average working interest of 48% and a net revenue interest of 37%.

Quarantine Bay Field

The Quarantine Bay Field is located in State waters offshore Plaquemines Parish, Louisiana. The field is located in 6-15 feet of water. This non-operated field has approximately 26 producing wells all on gas lift and completed above 10,500 feet. The field gross production is approximately 1,000 BOPD and 180 MCFPD during 2007. The Company’s working interest is 7.0% and an average net revenue interest of 5.2%. However, the Company has a 33% working interest in exploration acreage and rights which are held by production.

Sherman/Wayne Fields

Sherman/Wayne Fields is located in Bottineau County, North Dakota. This field consists of 17 producing wells, which produce from the Mississippian Wayne interval. The field is operated by the Company, which has an average working interest of 76% and an average net revenue interest of 64%. The gross production of the field is 170 BOPD during 2007.

St. Martinville Field

St. Martinville Field is located in St. Martin Parish, Louisiana. This field consists of 13 producing wells, which produce from Miocene sand intervals. All the wells are on rod-pump with a gross rate of 210 BOPD during 2007. The field is operated by the Company, which has an average working interest of 97%. The Company owns the majority of the minerals resulting with a net revenue interest of approximately 97%.

Starbuck Field

The Starbuck Field is located Bottineau County, North Dakota. This field consists of 19 producing wells, which produce from the Mississippian Madison interval. The field is operated by the Company, which has an average working interest of 91% and an average net revenue interest of 78%. The gross production of the field is 65 BOPD during 2007.

Share Statistics
Average Volume (3 month)3: 260,058
Average Volume (10 day)3: 361,457
Shares Outstanding5: 14.70M
Float: 4.07M
% Held by Insiders1: 75.52%
% Held by Institutions1: 7.00%

 

 

 

Website:

georesourcesinc.com

 

Key Statistics:    

finance.yahoo.com/q/ks

 

SEC filings:

www.sec.gov/cgi-bin/browse-edgar

 

Headlines for GEOI

finance.yahoo.com/q/h

 

Operations

 

 

 

 

 

 

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PostSubject
#41   This will be huge jrt111 11/16/12 04:58:07 PM
#40   Federman & Sherwood Investigates GeoResources, Inc. for Possible johnsyn 04/25/12 03:42:49 PM
#39   The HK deal has made GEOI it's life's johnsyn 04/25/12 03:41:31 PM
#38   WELCOME TO 18% OWNERSHIP OF HALCON RESOURCES! UP johnsyn 04/25/12 09:36:44 AM
#37   ~ Tuesday! $GEOI ~ Earnings posted, pending or Penny Roger$ 03/13/12 12:28:42 AM
#36   5 Oil Companies with a Chance to Grow: TradeBaron 12/01/11 03:35:57 PM
#35   I bought in at $1.25 several years ago! bizzbagg 07/07/11 02:27:54 PM
#34   Update about GEOI in the Bakken. OilStockReport 04/25/11 04:39:14 PM
#33   I see some continued upside w/ GEOI! OilStockReport 04/11/11 12:59:07 PM
#32   Hope this thing moves soon logman 07/22/10 07:51:08 PM
#31   Oil prices retreating a little this past week logman 05/17/10 08:52:21 AM
#30   GeoResources and Resolute Energy Announce Project to Develop logman 03/04/10 09:49:37 AM
#29   Nice gains today. logman 01/27/10 10:34:36 AM
#28   Happy Holidays. logman 12/24/09 09:45:00 AM
#27   NEWS GeoResources, Inc. Prices Public Offering of Common Stock logman 11/25/09 09:52:19 AM
#26   Thanks for posting these. I missed them. logman 09/17/09 09:25:54 AM
#25   GeoResources, Inc. to Present at the C. K. GuruTrader 09/17/09 08:06:29 AM
#24   GeoResources, Inc. to Present at the Rodman & GuruTrader 09/02/09 09:02:59 AM
#23   Close 11.52 logman 08/13/09 07:44:48 PM
#22   $8.43 today logman 05/26/09 12:05:17 PM
#21   We closed a 7.10 up .14 today. logman 04/30/09 10:21:42 PM
#20   Income Statement GEOI logman 04/06/09 09:17:31 AM
#19   GeoResources, Inc. Provides Operations Update logman 02/26/09 11:22:51 AM
#18   Crude oil up 5% on Gaza tension, OPEC meeting logman 01/06/09 12:34:13 AM
#17   Hope 2009 will be a good year for GEOI. logman 01/04/09 11:40:22 PM
#16   Democrats to let offshore drilling ban expire logman 09/24/08 01:04:07 AM
#15   GeoResources, Inc. Provides Operations Update logman 08/12/08 09:08:30 AM
#14   Press Release Source: GeoResources, Inc. logman 08/11/08 08:06:47 PM
#13   Looks like a good stock. I see they logman 07/08/08 04:01:57 PM
#12   Shares Outstanding: 14.70M logman 07/08/08 03:56:50 PM
#11   Just bought some stock in GEOI today logman 07/08/08 03:52:16 PM
#10   Anybody see where this is going with GE partnership? stickfigurefred 06/19/07 03:58:01 PM
#9   Cathey in PR sent me a email about pinkeyepete 04/26/07 01:25:08 PM
#8   GEOID $7.18. #1 Nasdak big board play! GEOI xxxxtrader 04/26/07 12:44:11 AM
#7   Geoi has mergered with 2 other companies, but pinkeyepete 04/24/07 05:10:59 PM
#6   GEOID $6.95/$7. I think tha Fundies and Hedgies xxxxtrader 04/23/07 01:51:46 PM
#5   Southern Bay, Chandler fold into GeoResources xxxxtrader 04/21/07 11:55:54 AM
#4   Nasdaq: GEOI>>GeoResources, Inc. Reports Results of Special Shareholders' energymanNJ 04/02/07 07:22:23 AM
#3   Heard about this on the Yahoo! BDCO message goofyfoot 03/29/07 07:16:07 PM
#2   Geoi settling down a bit after run up. coolwire 03/11/05 06:43:40 PM
#1   latest GRUB ever DCschmoeka 12/05/04 06:11:49 PM
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