Acquisitions & Divestitures

GeoResources Inc., Houston, (Nasdaq: GEOI) and Resolute Energy Corp., Denver, (NYSE: REN) report a joint project to develop acreage in the Bakken shale trend of North Dakota.

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

The parties plan to drill at least three horizontal wells ...