| Business Summary | | GeoResources,
Inc.
is
a
natural
resources
company
engaged
principally
in
two
business
segments:
oil
and
gas
exploration,
development
and
production;
and
mining
of
leonardite
(oxidized
lignite
coal)
and
manufacturing
of
leonardite
based
products
sold
primarily
as
oil
and
gas
drilling
mud
additives.
The
Company's
oil
and
gas
exploration
and
production
efforts
are
concentrated
on
oil
properties
in
the
North
Dakota
and
Montana
portions
of
the
Williston
Basin.
As
of
December
31,
2000,
the
Company
had
developed
oil
and
gas
leases
covering
approximately
14,932
net
acres
in
Montana
and
North
Dakota,
and
during
2000
sold
an
average
457
net
equivalent
barrels
of
oil
per
day
from
134
gross
(106
net)
productive
wells
located
primarily
in
North
Dakota.
The
Company
operates
a
leonardite
mine
and
processing
plant
in
Williston,
North
Dakota.
In
2000,
the
Company's
leonardite
products
were
sold
primarily
to
drilling
mud
companies
located
in
coastal
areas
of
the
Gulf
of
Mexico. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | GEOI
engages
in
oil
and
gas
exploration,
development
and
production
in
North
Dakota
and
Montana.
GEOI
is
also
engaged
in
the
mining
and
manufacturing
of
leonardite
and
leonardite
based
products.
For
the
six
months
ended
6/30/01,
revenues
fell
9%
to
$2.2
million.
Net
income
fell
61%
to
$264
thousand.
Revenues
reflect
decreased
oil
and
gas
production
and
lower
average
oil
prices
per
BOE.
Earnings
also
reflect
higher
oil
and
gas
operating
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Jeffrey Vickers, 48 Pres,
CEO, Director | $91K | Jeffrey Jennings, 44 VP-Fin.
and Land | -- | Thomas Neubauer, 66 VP
of Leonardite Operations | -- | Connie Hval, 40 Treasurer,
Controller | -- | Cathy Kruse, 46 Sec.,
Director | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|