Eagle Ford Shale

GeoResources Issues Update On Eagle Ford Shale

GeoResources (GEOI) issued an update on its operations in the Eagle Ford Shale in Texas. The company has a 21,000 net acre position in Atascosa, Fayette, Gonzales and McMullen Counties.

GeoResources plans to start drilling the Flatonia East Unit #1H well in January 2011 in Fayette County.  This will be the company’s first well into the Eagle Ford Shale.  GeoResources plans to drill between 12 and 13 wells into the Eagle Ford Shale in 2011 across all its acreage.

GeoResources is involved in an Eagle Ford Shale Area of Mutual Interest in Fayette County with Ramshorn Investments, Inc., an affiliate of Nabors Industries (NBR). 

GeoResources Enters Joint Venture In Eagle Ford Shale

GeoResources (GEOI) announced that the company has entered into a joint venture with Ramshorn Investments, Inc. to acquire and develop acreage in Texas that is prospective for the Eagle Ford Shale.

The joint venture has already purchased 22,00 net acres in Fayette County, Texas, and established an Area of Mutual Interest in that county for future Eagle Ford Shale acquisitions. Ramshorn Investments, Inc. is a subsidiary of Nabors Industries LTD (NBR).

The joint venture intends to drill six horizontal wells into the Eagle Ford Shale as part of the agreement. GeoResources plans to start drilling the first well before the end of 2010.