GEOI beat my forecast
Posted: Mon Nov 07, 2011 7:23 pm
Houston, Texas, November 7, 2011 – GeoResources, Inc. (NASDAQ: GEOI), today
announced its financial and operating results for the three and nine month periods ended
September 30, 2011. Highlights for the third quarter 2011 include:
• Produced an average of 5,545 boe/d in the quarter (65% oil), a 12% increase over the
third quarter 2010 and a 17% increase over the second quarter 2011.
• Generated Adjusted EBITDAX(1) of $24.1 million in the quarter, a 39% increase over the
third quarter 2010 and a 20% increase over the second quarter 2011.
• Generated Adjusted Net Income(1) of $9.2 million in the quarter, a 30% increase over the
third quarter 2010 and a 17% increase over the second quarter 2011.
• Generated Adjusted Earnings Per Share (Diluted)(1) of $0.36/share in the quarter, a 1%
increase over the third quarter 2010 and a 17% increase over the second quarter 2011.
• Continued the successful development of its operated Bakken and Eagle Ford projects.
• Received commitments for a new five year senior revolving credit facility with an initial
undrawn $180 million borrowing base(2).
• Ended the quarter with $216 million in Pro Forma Liquidity(1)(2).
announced its financial and operating results for the three and nine month periods ended
September 30, 2011. Highlights for the third quarter 2011 include:
• Produced an average of 5,545 boe/d in the quarter (65% oil), a 12% increase over the
third quarter 2010 and a 17% increase over the second quarter 2011.
• Generated Adjusted EBITDAX(1) of $24.1 million in the quarter, a 39% increase over the
third quarter 2010 and a 20% increase over the second quarter 2011.
• Generated Adjusted Net Income(1) of $9.2 million in the quarter, a 30% increase over the
third quarter 2010 and a 17% increase over the second quarter 2011.
• Generated Adjusted Earnings Per Share (Diluted)(1) of $0.36/share in the quarter, a 1%
increase over the third quarter 2010 and a 17% increase over the second quarter 2011.
• Continued the successful development of its operated Bakken and Eagle Ford projects.
• Received commitments for a new five year senior revolving credit facility with an initial
undrawn $180 million borrowing base(2).
• Ended the quarter with $216 million in Pro Forma Liquidity(1)(2).