BNET Industries

GMX Resources Inc.

(GMXR) is in the Energy Industry

Market Cap:$363.6M
Last Fiscal Year Sales:$125.7M
  • Public
  • US
Dow Jones Description

We are a pure play independent oil and natural gas exploration and production company focused on the development of the Haynesville/Bossier Shale and unconventional Cotton Valley gas sands in the Sabine Uplift, of Carthage, North Field of Harrison and Panola counties of East Texas (our core area). We state that we are a pure play company because materially all of our business is devoted to drilling for and producing crude oil and natural gas in our core area. We have 763 gross / 521 net Haynesville/Bossier 80 acre un-drilled locations; 8 gross / 8 net Haynesville/Bossier producers, and 324 gross / 186.9 net Cotton Valley (CV) producers; 2,657 gross / 1,974 net CVS 20 acre un-drilled locations; and 45 gross / 37.5 net Travis Peak/Hosston Sands & Pettit producers. These multiple resource layers provide high probability and the potential for repeatable, organic growth. One to two operated drilling rigs will be developing this contiguous, multi-layer gas resource play on the Sabine Uplift; Carthage, North Field, in Panola & Harrison County of East Texas, and Caddo Parish of North Louisiana. We have invested over $100 million in infrastructure and have interests in 398 gross / 248 net producing wells and operate over 81% of our reserves.

Chairman, President and Chief Executive Officer
Ken L. Kenworthy
Number of Employees 149
Contact Information

9400 N Broadway Ste 600

Oklahoma City, Oklahoma 73114-7422

gmxresources.co...

(405) 600-0711

NAICS Code Crude Petroleum and Natural Gas Extraction: 211111

Recent Events

  • GMX Resources Slips To Loss In Q3 - Quick Facts

    11/06/09 - Financial Announcement - View Story

  • Kinder Morgan to buy GMX's shares in gas business for $36M

    10/19/09 - Merger / Acquisition - View Story

  • BRIEF-GMX Resources says signs agreement with Kinder Morgan

    10/16/09 - Joint Venture / Alliance - View Story

  • Market Report -- In Play GMXR

    10/16/09 - Joint Venture / Alliance - View Story

  • How to Research an Oil Stock: Part 3

    9/11/09 - Bond / Stock Rating - View Story

  • Oklahoma Eagle and Beagle

    7/05/09 - Bond / Stock Rating - View Story

  • GMX Resources Completes Redetermination of Borrowing Base

    6/10/09 - Stock Split / Dividend - View Story

  • Oklahoma briefs: GMX receives new president

    6/04/09 - Mgmt. Change Entering - President - View Story

  • GMX Resources' Board names Michael Rohleder President - Quick Facts

    6/03/09 - Mgmt. Change Entering - President - View Story

News & Analysis

gmx resources inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Keith Leffel President, Endeavor Pipeline, Gas Marketing
Michael J Rohleder President
James Merrill Chief Financial Officer
Ken L. Kenworthy Executive Vice President, Chief Financial Officer, Secretary and Treasurer
Gary D. Jackson Vice President, Land
Kyle Kenworthy Vice President, Land
Rick Hart Vice President, Operations
Tim Benton Vice President, Geosciences, P.E
Tom Boismier Founder
Pam Scott Hr Director
Amber Croisant Office Manager, Administrator
Beverly Herzig Lease Records Manager
Charles Pope Engineer, Drilling & Completions Manager
David Donnell Gas Marketing Manager
Dean Ward Area Manager
Monnie Dehart Production Manager
Phil Willits Land Manager
Janet Sloan Assistant Controller
Julie Fry Controller
Aimee Chaplin Land Administrator
Andrea Metcalf Senior Hr Representative
Andreas Rydholm Accountant, Financial Analyst
April Mitchell General Office Clerk
Ashly Cobb Operations Assistant
Becky Lochary Operations Assistant & Regulatory Reporting
Bill Welch Data Base Analyst
Breanne Barker Land Clerk
Brett Stephens Operations Analyst
Brookelynne Gowens Receptionist
Carl Roberts Senior Revenue Accountant
Christopher Pope Data Technician
Cindy Shelby Treasury Accountant
Daniel Garrett Land Technician
Daniel Griffin Drilling Technician
Deborah Downs Production Assistant
Debra Barker Division Order Analyst
Dianne Newman Operations Assistant
Jeff Pickles Geology Technician
Joy Howard Operations Assistant
Judy Leonard Accounts Payable Clerk
Karen M Kenworthy
Kaye Wilkerson Executive Assistant
Kim Landress Receptionist
Lindsey Lodge Executive Land Administrator
Liz Gotcher Hr Representative, Payroll
Marilyn Leonard Geology Technician
Peter K Seldin
Rachel Welch Land Records Administrator
Ryan Roper Land Attorney
Stephanie Estel Production Analyst
Tracie Billings Operations Assistant
Tracy Harvey Division Order Analyst
Vicky Foster Land Administrator
Wayne Smith Petroleum Engineer
Whitney Palka Contract Administrator

Board of Directors

Name (plus bio) Position
Ken L. Kenworthy Chairman, President and Chief Executive Officer
Jon W. McHugh Board of Directors
Steve Craig Board of Directors
T.J. Boismier Board of Directors

Ken L. Kenworthy, Jr. is a co-founder of GMX and has been President and a director since the Company's inception in 1998. Ken founded OEXCO, a highly successful, privately held oil and gas company in 1980 and managed it until it sold in 1995. During this period OEXCO operated 300 wells and drilled and discovered seven fields and dozens of new zones. Ken attended the University of Oklahoma and he is a member of the American Association of Petroleum Geologists.

Organization Position Status
GMX Resources Inc. Chairman, President and Chief Executive Officer Current
GMX Resources Inc. President, Chief Executive Officer and Director Current
GMX Resources Inc. Co-Founder Current
GMX Resources Inc. Chief Financial Officer Former
GMX Resources Inc. Staff Accountant, Diamond Blue Drilling Former
GMX Resources Inc. Board of Directors Former
The University of Oklahoma Former

Organization Position Status
GMX Resources Inc. President, Endeavor Pipeline, Gas Marketing Current
GMX Resources Inc. Vice President, Gas Marketing Former
GMX Resources Inc. Natural Gas Marketer and Pipeline Operations Manager Former

Organization Position Status
GMX Resources Inc. President Current
GMX Resources Inc. Vice President, Corporate Development and Investor Relations Current
GMX Resources Inc. Executive Vice President, Corporate Development & Investor Relations Former
GMX Resources Inc. New Officer Former

Organization Position Status
GMX Resources Inc. Chief Financial Officer Current
GMX Resources Inc. Controller Former

Ken L. Kenworthy, Sr., a co-founder of GMX, has held positions of Executive Vice President, Chief Financial Officer, Secretary and Treasurer for the Company. In February 2008, Mr. Kenworthy retired from GMX where he remains as a director. Prior to 1998, he held various senior financial positions with private and public businesses, including vice president, secretary-treasurer, chief financial officer and director of CMI Corporation, a New York Stock Exchange company and president of CMI Oil, an oil and gas subsidiary of CMI.

Organization Position Status
GMX Resources Inc. Executive Vice President, Chief Financial Officer, Secretary and Treasurer Current
GMX Resources Inc. Co-Founder Current
GMX Resources Inc. Board of Directors Current
GMX Resources Inc. President, Chief Executive Officer and Director Former
GMX Inc. co-founder Former
GMX Resources Inc. Staff Accountant, Diamond Blue Drilling Former
The University of Oklahoma Former

Organization Position Status
GMX Resources Inc. Vice President, Land Current

Organization Position Status
GMX Resources Inc. Vice President, Land Current
GMX Resources Inc. Land Manager Former

Rick Hart, Jr. a, petroleum engineer, age 48, was hired in January 2004 as Operations Manager. He has 24 years of experience in all aspects of operations, including specific expertise in drilling, completion and production in the East Texas reservoirs. Immediately before coming to work for GMX, he worked with Focus Energy for nine years and had responsibility for 319 producing wells.

Organization Position Status
GMX Resources Inc. Vice President, Operations Current
Focus Energy Corporation Vice President of Operations Former
GMX Resources Inc. Engineer, Operations Manager Former
The University of Oklahoma Bachelor of Science In Petroleum Engineering Former

Organization Position Status
GMX Resources Inc. Vice President, Geosciences, P.E Current
GMX Resources Inc. Manager, Acquisitions & Divestitures, P.E Former
GMX Resources Inc. Reservoir Engineer Former

Organization Position Status
GMX Resources Inc. Founder Current
GMX Resources Inc. Chair Current

Organization Position Status
GMX Resources Inc. Hr Director Current

Organization Position Status
GMX Resources Inc. Office Manager, Administrator Current
GMX Resources Inc. Land Services Analyst Current

Organization Position Status
GMX Resources Inc. Lease Records Manager Current

Organization Position Status
GMX Resources Inc. Engineer, Drilling & Completions Manager Current

Organization Position Status
GMX Resources Inc. Gas Marketing Manager Current

Organization Position Status
GMX Resources Inc. Area Manager Current

Organization Position Status
GMX Resources Inc. Production Manager Current
GMX Resources Inc. Production & Operations Assistant Former

Organization Position Status
GMX Resources Inc. Land Manager Current

Organization Position Status
GMX Resources Inc. Assistant Controller Current

Organization Position Status
GMX Resources Inc. Controller Current

Organization Position Status
GMX Resources Inc. Land Administrator Current

Organization Position Status
GMX Resources Inc. Senior Hr Representative Current

Organization Position Status
GMX Resources Inc. Accountant, Financial Analyst Current

Organization Position Status
GMX Resources Inc. General Office Clerk Current

Organization Position Status
GMX Resources Inc. Operations Assistant Current

Organization Position Status
GMX Resources Inc. Operations Assistant & Regulatory Reporting Current

Organization Position Status
GMX Resources Inc. Data Base Analyst Current

Organization Position Status
GMX Resources Inc. Land Clerk Current

Organization Position Status
GMX Resources Inc. Operations Analyst Current

Organization Position Status
GMX Resources Inc. Receptionist Current

Organization Position Status
GMX Resources Inc. Senior Revenue Accountant Current

Organization Position Status
GMX Resources Inc. Data Technician Current

Organization Position Status
GMX Resources Inc. Treasury Accountant Current

Organization Position Status
GMX Resources Inc. Land Technician Current

Organization Position Status
GMX Resources Inc. Drilling Technician Current

Organization Position Status
GMX Resources Inc. Production Assistant Current

Organization Position Status
GMX Resources Inc. Division Order Analyst Current

Organization Position Status
GMX Resources Inc. Operations Assistant Current

Organization Position Status
GMX Resources Inc. Geology Technician Current

Organization Position Status
GMX Resources Inc. Operations Assistant Current

Organization Position Status
GMX Resources Inc. Accounts Payable Clerk Current

Organization Position Status
GMX Resources Inc. Current

Organization Position Status
GMX Resources Inc. Executive Assistant Current

Organization Position Status
GMX Resources Inc. Receptionist Current

Organization Position Status
GMX Resources Inc. Executive Land Administrator Current

Organization Position Status
GMX Resources Inc. Hr Representative, Payroll Current

Organization Position Status
GMX Resources Inc. Geology Technician Current

Organization Position Status
GMX Resources Inc. Current

Organization Position Status
GMX Resources Inc. Land Records Administrator Current

Organization Position Status
GMX Resources Inc. Land Attorney Current

Organization Position Status
GMX Resources Inc. Production Analyst Current

Organization Position Status
GMX Resources Inc. Operations Assistant Current

Organization Position Status
GMX Resources Inc. Division Order Analyst Current

Organization Position Status
GMX Resources Inc. Land Administrator Current

Organization Position Status
GMX Resources Inc. Petroleum Engineer Current

Organization Position Status
GMX Resources Inc. Contract Administrator Current

Jon W. "Tucker" McHugh became a director of the Company in January 2005. Since 1997, Mr. McHugh has been Senior Vice President Commercial Lending and head of marketing at First Commercial Bank, Edmond, Oklahoma.

Organization Position Status
First Commercial Bank Senior Vice President Current
First Commercial Bank Head of Marketing Current
GMX Resources Inc. Board of Directors Current

STEVEN CRAIG is the Chief Energy Analyst for Elliott Wave International, a securities market research and advisory company located in Gainesville, Georgia, which is one of the world's largest providers of market research and technical analysis. As Chief Energy Analyst, Mr. Craig provides in-depth analysis and price forecasts of the major NYMEX energy markets to an institutional clientele that spans the gamut of the energy industry. Prior to joining Elliott Wave International in January 2001, he provided risk management services to Central and South West, one of the largest natural gas consumers in the U.S. prior to its merger with American Electric Power in June 2000 and independent oil and gas producer Kerr-McGee. He became a director in August 2001.

Organization Position Status
Elliott Wave International Chief Energy Analyst Current
GMX Resources Inc. Board of Directors Current
Oklahoma State University Former

Tom Boismier is founder, president and chief executive officer of T.J. Boismier Co., Inc., a privately held mechanical contracting company in Oklahoma City, Oklahoma which designs and installs plumbing, heating, air conditioning and utility systems in commercial building, a position he has held since 1961.

Organization Position Status
GMX Resources Inc. Board of Directors Current
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     GMXR $11.65 +0.18 (1.57% )
Intraday | 3 Month | 6 Month | 1 Year
Average Volume 1,202,020
Shares Outstanding 31.21M
Market Cap 363.6M
Year High 30.49
Year Low 5.57
Earnings Per Share -16.21
P/E Ratio -0.72
Dividend N/A
Yield N/A
IndustryTop Rated

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