GE Energy Financial Services, a division of GE, Stamford, Conn., (NYSE: GE) has partnered with Southern Bay Energy, a subsidiary of GeoResources Inc., Houston, (Nasdaq: GEOID) and Bays Exploration Inc., a subsidiary of Oklahoma City-based Bays Enterprises Inc., in two deals to acquire reserves in Oklahoma and Texas from undisclosed sellers for a total value of $154 million. The assets to be acquired with Bays are in western Oklahoma and valued at $79 million. GE Energy Financial Services plans to invest up to $60 million for the development of the reserves. The assets to be acquired with Southern are in the Austin Chalk trend of East Texas and valued at $75 million. GE Energy Financial Services plans to invest an additional $27 million for development.
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