GMX Resources has become one of the latest US gas producers to establish a footprint in unconventional US oil plays. The Haynesviile Shale-focused minnow took its first step into unconventional oil in January, obtaining its first acreage in the Bakken and Niobrara oil formations through five separate sales agreements. "This will be a significant and quick transition [to oil] for the company," GMX Chief Executive Ken Kenwor-thy told the Howard Weil energy conference in New Orleans last week.
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