GMX Resources maintains focus on finding natural gas in core areas

10/21/2002
GMX Resources Inc. will base its future growth on maintaining a focus on exploration and development of natural gas in its core areas of operation, according to Ken Kenworthy Jr., chairman, president, and CEO.Presently, the Oklahoma City-based independent's reserves are 85% gas. "We have chosen to focus on natural gas reserves," Kenworthy said, adding, "We believe the longer-term market demand for this cleaner energy source is very strong."Kenworthy said that GMX will drill up its proven undeveloped reserves to increase production and net income. The company also is in the market to sell part of its assets or the entire company, Kenworthy explained. "A partial sale could be part of Ea...
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