By OGJ editors
HOUSTON, Mar. 3 – GeoResources Inc., Houston, and Resolute Energy Corp., Denver, will develop Bakken shale trend acreage in Williams County, ND.
GeoResources has acquired 61,000 gross (42,000 net) acres in which Resolute will take 45% interest. A third party is expected to take 10%, and GeoResources remains operator.
The firms plan to drill at least three horizontal wells to Middle Bakken in 2010 and seek more acreage. Secondary objectives include the Three Forks, Madison, and Red River formations.