Once an SOB "top pick", GMXR filed for bankruptcy on Monday. I wonder why he didn't mention it?
Maybe Linn can buy it with the proceeds of Anadarko. SOB is always looking for Linn to enlarge it's assets in the Bakken, here is their Golden Opportunity.
Mon Apr 1, 2013 11:49am EDT
(Reuters) - Oil and gas producer GMX Resources Inc filed for Chapter 11 bankruptcy protection, hit by weak natural gas prices.
The company, with assets in the Williston Basin in North Dakota and Montana, the Denver Julesburg Basin in Wyoming and the East Texas Basin, said it couldn't raise funds for long-term liquidity needs.
Two GMX units - Diamond Blue Drilling Co and Endeavor Pipeline Inc - also filed for bankruptcy protection.
Diamond Blue has minimal assets, while Endeavor Pipeline operates a natural gas gathering system in the East Texas Basin.
GMX also has a 60 percent stake in Endeavor Gathering, which owns the natural gas gathering system and related equipment operated by Endeavor Pipeline. GMX did not include Endeavor Gathering in the filing.
The company said it was negotiating an agreement with holders of its senior secured notes due 2017 for them to acquire substantially all its operating assets and undeveloped acreage.
The real investor would note Obama just successfully drove an American natural gas producer out of business.
This stress also reflects why our wildly successful North Dakota entrepreneurs are focused on efficiency and cost reduction rather than maximizing production.
Then the local Progressive worshipers of the humanity hating earth goddess can make delusional false claims that the oil is running out due to high decline rates.
LINE management saw the collapse in ng prices coming due to the new technology AND diversified into oil and extended their hedge book.
America's energy revolution can be delayed at great hardship to average Americans and most especially poor Obama supporters destroying themselves with their emotional based support. But it cannot be stopped. There is simply enough wealth to get our economy growing normally and that economic activity along with a massive tax and royalty stream is enough to make Obama's massive new debt load manageable - by responsible, rational and nature adults.
LOL Another distortion...oops... ......I meant another of your lies....so this is it:
"Once an SOB "top pick", GMXR"
If you go and read the latest posts on that one here at the LINE board....I cautioned your rp1981...olb-trooper..... when HE said it was one to consider....I wold not go near that one and IF you search the mesage history I also said exactly why.
...so you and anyone who is interested is welcome to see what was actually said about it and it just demonstrates again how you keep making things up that are not true but the way you merely prefer them to be.....
So, do you need the posts to be reposted for you to see that what I just explained is correct or do you think that you can use the search button to see all on your own?