Canaccord Genuity Maintains a 'Buy' on GeoResources (GEOI); Concentrated Leverage to Most Prolific Liquids-Oriented Resource Plays
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Price: $33.20 --0%
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Canaccord Genuity maintains a 'Buy' on GeoResources (NASDAQ: GEOI) price target of $41.00.
Analyst, John Gerdes, said, "GeoResources presents concentrated leverage to two of the most prolific liquids-oriented resource plays in the country: the South Texas Eagle Ford Shale and the Williston Basin Bakken Shale. Combined, we estimate GeoResource’s unrisked resource potential in these plays is ~80 Mmboe, which is over 3x the company’s ’10 proved reserves. As to catalysts, we believe the company’s modified completion design in the Eagle Ford has a high probability of improving go-forward well results (initial wells recover 300 Mboe for $8+ million). In the Bakken, the company is attempting to add acreage in higher productivity areas west of the Nesson anticline by leveraging its third rig (Q2/12 start) and pursing acreage swaps."
For an analyst ratings summary and ratings history on GeoResources click here. For more ratings news on GeoResources click here.
Shares of GeoResources closed at $28.39 yesterday.
Analyst, John Gerdes, said, "GeoResources presents concentrated leverage to two of the most prolific liquids-oriented resource plays in the country: the South Texas Eagle Ford Shale and the Williston Basin Bakken Shale. Combined, we estimate GeoResource’s unrisked resource potential in these plays is ~80 Mmboe, which is over 3x the company’s ’10 proved reserves. As to catalysts, we believe the company’s modified completion design in the Eagle Ford has a high probability of improving go-forward well results (initial wells recover 300 Mboe for $8+ million). In the Bakken, the company is attempting to add acreage in higher productivity areas west of the Nesson anticline by leveraging its third rig (Q2/12 start) and pursing acreage swaps."
For an analyst ratings summary and ratings history on GeoResources click here. For more ratings news on GeoResources click here.
Shares of GeoResources closed at $28.39 yesterday.
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