GSX received authorization of development of Gasco uinta basin field in Duchesne,and Uintah counties in Utah. It will be able to tap into 135 producing wells and continue to explore for oil and gas. This should yield nearly 3 trillion cubic feet(TCF)of natural gas through 2053.Good News for GXS
As nat gas prices increase the asset value increases drilling permits become more valuable and GSX may be bought out just for the assets. Nat gas will be exported to other countries soon which will drive the price up as well.
this news has been out for some time it is good long term but they need financing to implement or will have to have drilling partner - for a portion of each well of course. in the interim they need to cut payroll bigtime to survive. better ng priceing would help to. there oil program has only had poor results and again no capex. they do have nice assets though a buyout could happen
Need reference for article and explanation of "corretion." Rumor based spam hurts the company rather than helps it, expecially when you need to correct the post but don't explain.
I sense that this might be old news, but have positive implications down the road. Is that what you mean?