GeoResources, Inc. (GEOI) Announces 2011 Oil and Gas Capital Budget
GeoResources, Inc. issued an operations update and announced the company’s oil and gas exploration and development capital budget for 2011. The company has assembled prospective acreage in many different onshore areas in the United States. GeoResources, Inc. has 46,000 net acres under lease in the Williston Basin, where the company is working to develop the Bakken and Three Forks formations. The company has 37,000 acres located in Williams and Mountrail Counties in North Dakota and 9,000 acres in Montana. GeoResources, Inc. has 21,000 net acres of mineral leasehold that is prospective for the Eagle Ford Shale in Texas. The acreage…