GeoResources Company Description
Though most of GeoResources' products are wet and slippery, one of them is dry and powdery. The company's oil and gas operations in Montana and North Dakota generate the bulk of its revenues. It also has a contract drilling operation. GeoResources has proved reserves of 2.8 million barrels of oil and 1.4 billion cu. ft. of gas. It also mines leonardite, an oxidized lignite coal, which it processes into a powder used primarily as a dispersant or thinner in drilling mud, but the company is exiting this business in order to focus on oil and gas. In 2007 the company acquired Southern Bay Oil & Gas, L.P. and Chandler Energy, LLC, for $78 million.
View the Comprehensive Company Description for GeoResources
The Company Description provides a historical perspective of GeoResources's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of GeoResources's evolution in the marketplace.
