GMX Resources

GMXR founded in 1998 and publicly traded since 2001 is an E&P company with development acreage in two oil resource Plays -the Williston Basin (North Dakota / Montana) and the DJ Basin (Wyoming), targeting the Bakken/Sanish-Three Forks and Niobrara Formations, respectively. The company also operates in two natural gas resource plays - the Haynesville/Bossier Formation and the Cotton Valley Sand Formation in the East Texas Basin, where the vast majority of our acreage is contiguous, and held by production. The Company believes multiple productive layers within these domestic oil and natural gas resources provide us with the flexibility to allocate capital across commodities and basins, to achieve the highest risk adjusted rate of return. Further, the oil and natural gas resources provide a robust inventory of high probability, repeatable, organic growth opportunities. The Bakken properties contain 43 potential operated units (1,280 acre), 172 operated locations (10,000 ft laterals). The Niobrara properties contain 146 potential operated units (640 acre), 584 operated locations (5,000 ft. laterals) and the combination of both Bakken and Niobrara properties provides the Company with an estimated 18 year rig inventory. The Haynesville/Bossier and the Cotton Valley Sand locations include 253 net Haynesville/Bossier horizontal locations, and 108 net Cotton Valley Sand horizontal locations, representing an estimated 12-13 year inventory of development utilizing two continuous rigs.