•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    GeoResources, Resolute Energy enter Bakken oil JV

    Independent oil and gas company GeoResources Inc. and Resolute Energy Corp. have entered into announced a joint venture project to develop acreage in the Bakken Shale Trend of North Dakota.

    GeoResources has acquired roughly 61,000 gross (42,000 net) leasehold acres in Williams County, North Dakota. Resolute will acquire a 45% interest in the acreage and GeoResources will retain a 45% interest and operations. A third industry partner is expected to participate for the remaining 10%.

    Currently, the parties plan to drill at least three horizontal wells in the Middle Bakken formation prior to year end, as well as seek to acquire additional acreage in the area. Recent activity in Williams County has confirmed commercial production in the Middle Bakken formation, which is a primary objective for the joint venture. Secondary objectives include the Three Forks, Madison and the Red River formations. 

    Houston-based GeoResources is primarily focused in three core areas – the Southwest, Gulf Coast and the Williston Basin. 

    In its recent proved reserves report as of December 31, 2009, the company shows 467% of production replaced and reports a reserve quantities increase of 42%.

    Most Popular

    Related Articles

    WGL Midstream acquires interest in Mountain Valley Pipeline JV

    03/12/2015 Mountain Valley Pipeline LLC, a joint venture between affiliates of EQT Corp. and NextEra Energy Inc., says that a subsidiary of WGL Holdings Inc., WGL Midstream, has acquired a 7% ownership intere...

    Total to be operator of PNG’s PRL 15 JV

    03/02/2015 InterOil Corp. says that all participants in the Petroleum Retention License (PRL) 15 joint venture have unanimously voted to appoint Total E&P PNG Ltd. as operator of the PRL 15 JV. PRL 15 is ...

    Bounty ends deal to buy stakes in Empire's Carnarvon Basin permits

    02/27/2015 Bounty Oil & Gas NL said on Feb. 27 that the indicative agreement with Empire Oil & Gas NL for Bounty to buy all of Empire’s Carnarvon Basin permit interests in Western Australia held by Em...

    JV formed for Panola NGL Pipeline expansion project

    02/25/2015 Enterprise Products Partners LP, Anadarko Petroleum Corp., DCP Midstream Partners LP, and MarkWest Energy Partners LP have formed a joint venture under which Enterprise will assign 45% ownership in...

    Long-life basins drive PetroQuest's success

    02/11/2015

    PQ reinvests excess cash-flow from Gulf Coast and GoM in Cotton Valley and Woodford Shale

    Nighthawk Energy enters into two JV agreements

    02/02/2015 Nighthawk Energy plc, with its 100% controlled and operated projects in the southeastern Denver-Julesburg Basin, Colorado, has entered into two joint venture agreements in northern Lincoln County, ...

    More Oil & Gas Financial Articles

    WGL Midstream acquires interest in Mountain Valley Pipeline JV

    Thu, Mar 12, 2015

    Mountain Valley Pipeline LLC, a joint venture between affiliates of EQT Corp. and NextEra Energy Inc., says that a subsidiary of WGL Holdings Inc., WGL Midstream, has acquired a 7% ownership interest in the joint venture, and that a subsidiary of Vega Energy Partners Ltd., Vega Midstream MVP LLC, has acquired a 3% interest.

    Total to be operator of PNG’s PRL 15 JV

    Mon, Mar 2, 2015

    InterOil Corp. says that all participants in the Petroleum Retention License (PRL) 15 joint venture have unanimously voted to appoint Total E&P PNG Ltd. as operator of the PRL 15 JV. PRL 15 is located in the Gulf Province of Papua New Guinea.

    Bounty ends deal to buy stakes in Empire's Carnarvon Basin permits

    Fri, Feb 27, 2015

    Bounty Oil & Gas NL said on Feb. 27 that the indicative agreement with Empire Oil & Gas NL for Bounty to buy all of Empire’s Carnarvon Basin permit interests in Western Australia held by Empire subsidiary has been terminated by mutual concern. Bounty has been a long-term joint venture partner with Empire in a number of the permits.

    JV formed for Panola NGL Pipeline expansion project

    Wed, Feb 25, 2015

    Enterprise Products Partners LP, Anadarko Petroleum Corp., DCP Midstream Partners LP, and MarkWest Energy Partners LP have formed a joint venture under which Enterprise will assign 45% ownership interest in its wholly owned Panola Pipeline Co. LLC.

    Long-life basins drive PetroQuest's success

    Wed, Feb 11, 2015

    PQ reinvests excess cash-flow from Gulf Coast and GoM in Cotton Valley and Woodford Shale

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ