GMX Resources is seeking joint-venture partners in each of its Haynesville/Bossier shale and Cotton Valley sands undeveloped acreage positions, the company revealed in its year-end report.

Michael J. Rohleder, GMX Resources president says, "Our interest in exploring these ideas would be to address our liquidity needs for our proposed capital expenditure plans for 2011 and 2012, allowing us to get to a cash flow positive state. We are well hedged in 2011 and 2012 and, of course, any JV would increase the percentage of our production that is hedged."

GMX ...