SOURCE: The Bedford Report

The Bedford Report

March 23, 2011 07:35 ET

Hercules Offshore and GMX Resources Show Significant Growth Potential

The Bedford Report Provides Analyst Research on Hercules Offshore & GMX Resources

NEW YORK, NY--(Marketwire - March 23, 2011) - In recent weeks, investors have been focused on small cap oil and gas companies that do not have exposure to Libya and other troubled spots, but stand to benefit from oil's recent spike in price. While analyst consensus is that the world can function without Libya's exports, Victor Shum, an energy analyst at Purvin and Gertz, warns "the worry is about what's next. What if protests persist in Iran and things get out of hand?" The Bedford Report examines the outlook for companies in the Oil and Gas sector and provides research reports on Hercules Offshore, Inc. (NASDAQ: HERO) and GMX Resources, Inc. (NYSE: GMXR). Access to the full company reports can be found at:

Hercules Offshore provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry in the US. Shares of HERO have been on the upswing since regulators began granting permits again for offshore drilling activities in the Gulf of Mexico.

During the company's fourth quarter earnings call this month, management said it expects pricing at its domestic offshore and international offshore segment to improve in 2011 because of an improvement in commodity prices and higher spending by oil and gas companies.

The Bedford Report releases regular market updates on the Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

While presently more involved in natural gas, GMX Resources is making a push to increase its oil exposure. Earlier this year, GMX Resources initiated positions in the Niobrara and Bakken plays to extract oil.

In early March, the company reported a net loss of $149 million or $(5.27) per share for the three months ending December 31, 2010. The company attributed the loss to deteriorating natural gas prices.

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