Acquisitions & Divestitures

GeoResources Inc., Houston (Nasdaq: GEOI) and privately held, Houston-based Yuma Exploration and Production Co. Inc. have acquired an undivided 75% interest in undeveloped leasehold interests of Zavanna LLC from U.S. Energy Corp., Riverton, Wyo., (Nasdaq: USEG) for $16.7 million.

The assets include undeveloped acres in its Yellowstone and SE HR Zavanna leasehold in McKenzie County, North Dakota.

U.S. Energy retains the remaining 25% interest in the undeveloped acreage and its original working interest and production in 10 gross (2.3 net) wells drilled and/or in progress to date. Of these 10 ...