Obbligazione Jeffries & Co. 3.875% ( US472319AG74 ) in USD

Jeffries & Co.

100 USD ⇌

Stati Uniti

US472319AG74 ( in USD )

3.875% per anno ( pagato 2 volte l'anno)

31/10/2029 - Obbligazione è scaduto

Prospetto opuscolo dell'obbligazione Jefferies Group US472319AG74 in USD 3.875%, scaduta

1 000 USD

300 000 000 USD

472319AG7

N/A

Jefferies Group LLC è una banca d'investimento globale che offre servizi di intermediazione, gestione patrimoniale e ricerca finanziaria a clienti istituzionali e privati.

The Obbligazione issued by Jeffries & Co. ( United States ) , in USD, with the ISIN code US472319AG74, pays a coupon of 3.875% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 31/10/2029
The Obbligazione issued by Jeffries & Co. ( United States ) , in USD, with the ISIN code US472319AG74, was rated NR by Standard & Poor's ( S&P ) credit rating agency.

Final Prospectus Supplement
Page 1 of 129
424B2 1 d424b2.htm FINAL PROSPECTUS SUPPLEMENT
Table of Contents
Filed pursuant to Rule 424(b)(2)
SEC File No. 333-150368

PROSPECTUS SUPPLEMENT TO PROSPECTUS DATED JUNE 25, 2008

$75,000,000
4.50% Convertible Senior Notes due 2015
We are offering $75,000,000 principal amount of our 4.50% Convertible Senior Notes due 2015, or the "notes". The notes will bear interest at a rate of 4.50%
per year. Interest on the notes will be payable semiannually in arrears on May 1 and November 1 of each year, beginning May 1, 2010. The notes will mature on
May 1, 2015, unless earlier converted, redeemed or repurchased by us. The notes will be our senior, unsecured obligations and will rank equal in right of payment
with our senior unsecured debt and our existing 5.00% convertible senior notes due 2013, and will be senior in right of payment to our debt that is expressly
subordinated to the notes, if any. The notes will be structurally subordinated to all debt and other liabilities and commitments of our subsidiaries, including our
subsidiaries' guarantees of our indebtedness under our revolving bank credit facility, and will be effectively junior to our secured debt to the extent of the assets
securing such debt.
Holders may convert their notes at their option prior to the close of business on the business day immediately preceding February 1, 2015 only under the
following circumstances: (1) during any fiscal quarter commencing after January 1, 2010 if the last reported sale price of our common stock for at least 20 trading
days during a period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter is greater than or equal to 130% of the
applicable conversion price on each such trading day; (2) during the five business-day period after any five consecutive trading-day period (the "measurement
period") in which the trading price (as defined below) per $1,000 principal amount of notes for each day of that measurement period was less than 98% of the
product of the last reported sale price of our common stock and the applicable conversion rate on each such day; (3) upon the occurrence of specified corporate
events; or (4) if we call the notes for redemption, at any time prior to the close of business on the business day prior to the redemption date. On and after
February 1, 2015 until the close of business on the business day immediately preceding the maturity date, holders may convert their notes at any time, regardless
of the foregoing circumstances. Upon conversion, we will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and
shares of our common stock, at our election, as described in this prospectus supplement.
The conversion rate will initially be 53.3333 shares of common stock per $1,000 principal amount of notes (equivalent to a conversion price of approximately
$18.75 per share of common stock). The conversion rate will be subject to adjustment in some events but will not be adjusted for any accrued and unpaid
interest. In addition, following certain corporate transactions that occur on or prior to the maturity date, we will increase the conversion rate for a holder who elects
to convert its notes in connection with such a corporate transaction.
On or after November 1, 2012 and prior to maturity date, we may redeem for cash all, but not less than all, of the notes if the last reported sale price of our
common stock equals or exceeds 130% of the conversion price then in effect for 20 or more trading days in a period of 30 consecutive trading days ending on the
trading day immediately prior to the date of the redemption notice. The redemption price will equal 100% of the principal amount of the notes to be redeemed,
plus any accrued and unpaid interest, including any additional interest, to, but excluding, the redemption date. To the extent a holder converts its notes in
connection with our redemption notice, we will increase the conversion rate as described in this prospectus supplement.
If we undergo a fundamental change, holders may require us to repurchase the notes in whole or in part for cash at a price equal to 100% of the principal
amount of the notes to be repurchased plus any accrued and unpaid interest, including any additional interest, to, but excluding, the fundamental change
repurchase date.
The notes will not be listed on any securities exchange. Our common stock is listed on The NASDAQ Global Select Market under the symbol "GMXR." The
last reported sale price of our common stock on The NASDAQ Global Select Market on October 22, 2009 was $16.21 per share.
Concurrently with this offering of the notes, we are offering 6,950,000 shares of our common stock (or 7,992,500 shares, if the underwriters exercise their
over-allotment option in full) pursuant to a firm commitment underwritten public offering. The issuance of the notes offered hereby is not conditional on the
consummation of the common stock offering.
Investing in the notes involves risks. See "Risk Factors" beginning on page S-12 of this prospectus supplement and "Risk Factors" beginning on
page 4 of the accompanying prospectus.

Underwriting
Discounts and
Proceeds to GMX

Price to Public(1)

Commissions

Resources Inc.
Per Note

100%
4%
96%
Total

$75,000,000
$3,000,000
$72,000,000
(1) Plus accrued interest from October 28, 2009, if settlement occurs after that date.
The underwriters will have a 30-day option to purchase up to an additional $11,250,000 aggregate principal amount of notes, solely to cover over-allotments,
if any.
Delivery of the notes to investors in book-entry form only through The Depository Trust Company will be made on or about October 28, 2009.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this
prospectus supplement and the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

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Credit Suisse

Jefferies & Company

Capital One Southcoast
The date of this prospectus supplement is October 22, 2009.
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Investment Highlights

Estimated proved reserves of 465 Bcfe as of December 31, 2008(1)
Approximately 42,300 net Haynesville/Bossier Shale acres
520 net potential undrilled Haynesville/Bossier Shale horizontal drilling locations based on 80-acre well spacing
Drilled and completed nine Haynesville/Bossier Shale horizontal wells
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(1) Based on a reserve report prepared by independent reserve engineers MHA Petroleum Consultants, Inc. as of December 31,
2008
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TABLE OF CONTENTS
PROSPECTUS SUPPLEMENT

ABOUT THIS PROSPECTUS SUPPLEMENT

S-ii
WHERE YOU CAN FIND MORE INFORMATION

S-ii
FORWARD-LOOKING STATEMENTS

S-iii
PROSPECTUS SUPPLEMENT SUMMARY

S-1
RISK FACTORS

S-12
USE OF PROCEEDS

S-31
CAPITALIZATION

S-32
RATIO OF EARNINGS TO FIXED CHARGES

S-33
PRICE RANGE OF COMMON STOCK AND DIVIDEND POLICY

S-34
MANAGEMENT AND KEY PERSONNEL

S-35
DESCRIPTION OF NOTES

S-37
THE COMMON STOCK OFFERING

S-64
DESCRIPTION OF CAPITAL STOCK

S-65
DESCRIPTION OF OTHER INDEBTEDNESS

S-69
MATERIAL UNITED STATES FEDERAL INCOME AND ESTATE TAX CONSIDERATIONS

S-73
UNDERWRITING

S-82
LEGAL MATTERS

S-86
EXPERTS

S-86
CERTAIN TECHNICAL TERMS

S-87

ACCOMPANYING PROSPECTUS

ABOUT THIS PROSPECTUS

1
WHERE YOU CAN FIND MORE INFORMATION

1
INCORPORATION BY REFERENCE

1
FORWARD-LOOKING STATEMENTS

2
THE COMPANY

4
RISK FACTORS

4
USE OF PROCEEDS

12
RATIO OF EARNINGS TO FIXED CHARGES

13
DESCRIPTION OF DEBT SECURITIES

14
DESCRIPTION OF CAPITAL STOCK

20
DESCRIPTION OF WARRANTS

26
DESCRIPTION OF UNITS

26
PLAN OF DISTRIBUTION

27
LEGAL MATTERS

29
EXPERTS

29

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About This Prospectus Supplement
As used in this prospectus supplement, references to "we," "our," "us," "GMX," and the "Company" are to GMX Resources Inc.
and, except as the context otherwise requires, our consolidated subsidiaries, including Endeavor Pipeline Inc. ("Endeavor") and
Diamond Blue Drilling Co. ("Diamond Blue").
This document is in two parts. The first part is this prospectus supplement, which describes our convertible senior notes offering.
This first part also adds to and updates information contained in the accompanying prospectus and the documents incorporated by
reference into the accompanying prospectus. The second part, the accompanying prospectus, gives more general information about us
and securities we may offer from time to time, some of which may not apply to this offering, our convertible senior notes or our
common stock. If the information varies between this prospectus supplement and the accompanying prospectus, or any document
incorporated by reference therein, you should rely on the information in this prospectus supplement.
You should rely only on the information contained in, incorporated or deemed incorporated by reference into this prospectus
supplement and the accompanying prospectus. Neither we nor any of the underwriters has authorized anyone to provide information
different from that contained in, incorporated or deemed incorporated by reference into this prospectus supplement or the
accompanying prospectus. You should not assume that the information contained in this prospectus supplement and the accompanying
prospectus to which it relates or the documents incorporated or deemed incorporated herein or therein is accurate as of any date other
than the date of this prospectus supplement, the accompanying prospectus or such documents.
This prospectus supplement and the accompanying prospectus are not an offer to sell any security other than the notes offered
hereby and are not soliciting an offer to buy any security other than the notes offered hereby. This prospectus supplement and the
accompanying prospectus are not an offer to sell the notes offered hereby to any person, and they are not soliciting an offer from any
person to buy the notes offered hereby, in any jurisdiction where the offer or sale to that person is not permitted.
As used in this prospectus supplement, references to "the notes" or "the notes offered hereby" are to the 4.50% convertible senior
notes due 2015 offered hereby and not to our existing 5.00% convertible senior notes due 2013, which are always referred to as such.
Where You Can Find More Information
Our filings with the United States Securities and Exchange Commission ("SEC") are available to the public over the Internet at
the SEC's web site at www.sec.gov. You may also read and copy any document we file at the SEC's public reference room located at
100 F Street, N.E., Washington D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference
room and copy charges. Also, using our website, http://www.gmxresources.com, you can access electronic copies of documents we
file with the SEC, including the registration statement of which this prospectus is a part, our annual reports on Form 10-K, quarterly
reports on Form 10-Q, and current reports on Form 8-K and any amendments to those reports. Information on our website is not
incorporated by reference in this prospectus. You may also request a copy of those filings, excluding exhibits, at no cost by writing,
calling or emailing Michael Rohleder at our principal executive office, which is located at 9400 North Broadway, Suite 600,
Oklahoma City, Oklahoma 73114, or by telephone or email at (405) 600-0711 or [email protected], respectively.
We have filed a registration statement with the SEC under the Securities Act of 1933, as amended (the "Securities Act"), that
registers the distribution of these securities. The registration statement, including the exhibits and schedules thereto, contains
additional relevant information about us and the securities. This prospectus does not contain all of the information set forth in the
registration statement. You can obtain a copy of the registration statement, at prescribed rates, from the SEC at the address listed
above.

S-ii
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Forward-Looking Statements
All statements made in this prospectus supplement and the accompanying prospectus other than purely historical information are
"forward-looking statements" within the meaning of the federal securities laws. These statements reflect expectations and are based on
historical operating trends, proved reserve positions and other currently available information. Forward-looking statements include
statements regarding future plans and objectives, future exploration and development expenditures, number and location of planned
wells and statements regarding the quality of our properties and potential production levels. These statements may be preceded or
followed by or otherwise include the words "believes," "expects," "anticipates," "intends," "continues," "plans," "estimates,"
"projects" or similar expressions or statements that events "will," "should," "could," "might" or "may" occur. Except as otherwise
specifically indicated, these statements assume that no significant changes will occur in the operating environment for oil and natural
gas properties and that there will be no material acquisitions or divestitures except as otherwise described.
The forward-looking statements in this prospectus supplement and the accompanying prospectus are subject to all the risks and
uncertainties that are described in this document. We may also make material acquisitions or divestitures or enter into additional
financing transactions. None of these events can be predicted with certainty, and they are not taken into consideration in the forward-
looking statements.
For all of these reasons, actual results may vary materially from the forward-looking statements, and we cannot assure you that
the assumptions used are necessarily the most likely. We will not necessarily update any forward-looking statements to reflect events
or circumstances occurring after the date the statement is made, except as may be required by federal securities laws.
There are a number of risks that may affect our future operating results and financial condition. These are described in this
prospectus supplement beginning on page S-12 and in the accompanying prospectus beginning on page 4.

S-iii
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Prospectus Supplement Summary
This summary highlights selected information contained elsewhere or incorporated by reference into this prospectus
supplement and the accompanying prospectus. This summary does not contain all of the information that you should consider
before investing in the notes. You should read the entire prospectus supplement and the accompanying prospectus carefully,
including the risk factors and the financial statements included or incorporated by reference in this prospectus supplement.
Our Business
We are an independent oil and natural gas exploration and production company focused on the development of the Cotton
Valley group of formations, specifically the Cotton Valley Sands layer in the Schuler formation and the Upper Bossier, Middle
Bossier and Haynesville/Lower Bossier layers of the Bossier formation (the "Haynesville/Bossier Shale"), in the Sabine Uplift of
the Carthage, North Field of Harrison and Panola counties of East Texas (our "core area"). We have operated in our core area
since 1998 and currently operate over 81% of our approximately 63,290 gross acres (46,732 net acres). At December 31, 2008,
our estimated total proved oil and natural gas reserves, as prepared by our independent reserve engineering firm, MHA Petroleum
Consultants, Inc., were approximately 465 billion cubic feet of natural gas equivalent. Approximately 35% of our proved reserves
were classified as proved developed, while 94% of our proved reserves were classified as natural gas.
As of September 30, 2009, we had identified 768 gross (520 net) potential undrilled Haynesville/Bossier Shale horizontal
well locations across our acreage, assuming 80-acre well spacing, and approximately 2,000 net potential undrilled Cotton Valley
Sands drilling locations across our acreage, assuming 20-acre well spacing. We currently have 250 net producing wells, of which
nine are Haynesville/Bossier Shale horizontal wells. We are currently focusing almost 100% of our 2009 capital expenditure
budget on the Haynesville/Bossier Shale horizontal drilling program. For a summary of recent developments in this drilling
program, please read "Recent Developments" below.
Our principal executive office is located at 9400 North Broadway, Suite 600, Oklahoma City, Oklahoma 73114, and our
telephone number is (405) 600-0711.
Company Strengths
Large, contiguous, high quality acreage position. We hold approximately 63,290 gross acres (46,732 net acres), of which
approximately 62,160 gross acres (42,300 net acres) are located in the emerging Haynesville/Bossier Shale resource play in
Harrison and Panola counties of East Texas. As of October 16, 2009, we have drilled and completed nine successful horizontal
Haynesville/Bossier Shale wells with production profiles that we believe support our strategy of continued and focused
development of this play on our acreage. We have identified 768 gross (520 net) potential undrilled locations based on 80-acre
spacing on our Haynesville/Bossier Shale acreage position. Furthermore, 19 vertical test wells that we drilled across our
properties in 2006 confirmed a consistent 350-foot layer of Haynesville/Bossier Shale to be present, which we believe has
substantially reduced the risk associated with our Haynesville/Bossier acreage. The Cotton Valley Sands resource play in which
we operate is a mature and well-understood play. As a result, drilling results are highly stable and predictable. We have a track
record of drilling success in our core area with a 100% drilling success rate since the inception of our Company. A significant
portion of our Haynesville/Bossier Shale acreage is held by production from our shallower Cotton Valley Sands, Travis Peak and
Hosston wells, which gives us the ability to drill where we choose without significant risk of lease expiration.
High degree of operational control. We operate over 81% of our acreage in our core area, which permits us to better manage
our operating costs and better control capital expenditures and the timing of development and exploitation activities.

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Strong growth profile with significant drilling inventory. We have an inventory of 520 net potential undrilled proved and
unproved Haynesville/Bossier Shale drilling locations and approximately 2,000 net potential undrilled proved and unproved
Cotton Valley Sands drilling locations as of September 30, 2009. This large drilling inventory provides us with the potential to
continue to exhibit significant organic reserve and production growth. For the five-year period ending December 31, 2008, we
have grown our proved reserves and production at compounded annual growth rates of 64% and 80%, respectively.
Low finding and development costs. Our finding and development costs have averaged $1.38 per Mcfe over the last three
calendar years. Finding and development costs are calculated by dividing the sum of total exploration and development capital
costs by the sum of total additions to estimated proved reserves for the years ended December 31, 2008, 2007 and 2006. "Finding
and development costs" are defined below in "Certain Technical Terms." The Cotton Valley Sands is considered to be an
unconventional natural gas resource that is pervasive throughout large areas, which explains our drilling success in this formation
layer. As a result, we did not have any exploration capital costs (i.e., "finding costs") in 2007 or 2006. However, in 2008, we had
finding costs of $12.2 million related to exploration activities in the Haynesville/Bossier Shale formation layer. We seek to apply
a low-cost approach to our Haynesville/Bossier Shale development.
Significant infrastructure in place. As of September 30, 2009, we had approximately 120 miles of gathering pipeline, 115
MMcf per day of takeaway capacity and 22,500 horsepower of compression. We also own salt-water disposal and other field
infrastructure as well as three drilling rigs, two of which have the capacity to drill horizontal Haynesville/Bossier Shale wells. We
intend to contribute our gathering and compression assets to Endeavor Gathering LLC ("Endeavor Gathering") in early
November 2009 as part of the closing of a new joint venture with Kinder Morgan Endeavor LLC ("KME"), but we have obtained
commitments from Endeavor Gathering for priority rights to its takeaway capacity following this contribution. For more
information on this joint venture, please see "Recent Developments--Joint Venture Relating to Gathering Assets" below. Based
on our average daily production rate of 36.1 MMcfe per day for the first half of 2009 and our takeaway capacity of 115 MMcf per
day as of September 30, 2009, we believe our current infrastructure has sufficient capacity to support material growth in
production.
Favorable economics through access to multiple delivery points. Our existing gathering infrastructure provides us with
options in determining the delivery points at which we sell our production, which allows us to take advantage of price
differentials among those delivery points. Due at least in part to these options, our net realized price for natural gas volumes sold,
including sales of processed liquids, and excluding the effects of hedging, was 95% of the NYMEX price for calendar year 2008.
Strategy
Our primary objective is to focus on the continued horizontal well development of our Haynesville/Bossier Shale acreage in
East Texas and to selectively increase our position within our core area. Our strategy emphasizes:

· Developing our existing Haynesville/Bossier Shale acreage--We seek to maximize the value of our existing assets by
developing our properties with the lowest risk and the highest production and reserve growth potential. We intend to
concentrate on developing our multi-year inventory of drilling locations in the Haynesville/Bossier Shale in order to

develop our natural gas reserves in East Texas. We estimate that our approximate 42,300 net acres in the
Haynesville/Bossier Shale includes as many as 520 net potential undrilled proved and unproved drilling locations based
on 80-acre spacing.

· Maintaining operational control with focus on reducing operating costs--We have consistently maintained low finding
and development costs and consistently operate with one of the lower operating cost structures in the industry. Over the

last three years, our finding and development costs have averaged $1.38 per Mcfe. Our per unit lease operating expenses
have declined from $1.07 per Mcfe for the six

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months ended June 30, 2008 to $0.90 per Mcfe for the six months ended June 30, 2009. While these results relate
primarily to our drilling of Cotton Valley Sands wells, we anticipate that our per unit operating costs will decrease as we

continue to develop our Haynesville/Bossier Shale properties and our horizontal Haynesville/Bossier production becomes
a greater percentage of our overall production.

· Utilizing an integrated model approach in our core area--We operate a significant amount of drilling and gathering
infrastructure in our core area, which allows us to better control the drilling, marketing, processing and delivery options
for the sale of our natural gas and oil. Upon consummation of the Endeavor Gathering joint venture, we will continue to

maintain control over the day-to-day operations of our gathering system assets through a pipeline operating agreement
between our subsidiary Endeavor Pipeline Inc. and Endeavor Gathering. We plan to continue pursuing the best markets
for the sale of our production and, through Endeavor Gathering, prudently expanding our infrastructure to keep pace with
increasing production volumes as we develop our Haynesville/Bossier Shale acreage.

· Actively hedging production to provide greater certainty of cash flow and earnings--We currently have hedging
instruments in place for 2009 for 27.6 MMcfe per day, or approximately 77% of our daily natural gas and crude oil

production as of June 30, 2009, at an average price of $7.77 per Mcfe. Excluding sold calls, for 2010 and 2011, we have
hedged approximately 11.3 million MMBtu and 2.4 million MMBtu of natural gas at a weighted average price of $6.50
and $6.71 per MMbtu, respectively. We plan to continue to use hedging to mitigate commodity price risks.

· Opportunistically acquiring acreage in our core area--We have increased our acreage position in the
Haynesville/Bossier Shale from approximately 18,000 net acres at December 31, 2007, to approximately 42,300 net acres
as of June 30, 2009. We continue to concentrate our efforts in areas where we can apply our technical expertise and where

we have significant operational control or experience. We plan to continue to expand our Haynesville/Bossier Shale
acreage position beyond our current 10-15 year drilling inventory by adding acreage with similar drilling potential and
characteristics to our existing properties.
Recent Developments
Continued Successful Well Results in Haynesville/Bossier Shale. As of October 16, 2009, we had successfully drilled and
completed nine wells in the Haynesville/Bossier Shale formation layers. Production results for these wells have continued to
improve, with our most recent Haynesville/Bossier Shale well generating the best 30-day production results of all of our
Haynesville/Bossier Shale wells drilled to date. We have continued to apply a low cost discipline as a key part of our strategy,
and we have lowered our completed well costs by approximately 50% from our first Haynesville/Bossier Shale well to our
current estimates. The authorization for expenditure for our next Haynesville/Bossier Shale well, the Bell 5H, is approximately
$6.5 million.
Joint Venture Relating to Gathering Assets. On October 16, 2009, we entered into a Purchase Agreement with KME relating
to Endeavor Gathering. Pursuant to this agreement, we will contribute our gathering, compression and certain related assets to
Endeavor Gathering, and then sell a 40% interest in Endeavor Gathering to KME for $36 million. We will retain the remaining
60% interest in Endeavor Gathering, and we will also enter into agreements with Endeavor Gathering to provide us with
continued access to its gathering system and that retain us as the day-to-day operator of the gathering system. Under the
agreements that will govern the Endeavor Gathering joint venture, KME and we are each obligated to contribute our pro rata
share of the capital required to connect new wells to the gathering system and for certain sustaining projects. We have also agreed
that KME will be entitled to 80% of the cash distributions from Endeavor Gathering until its investment has been repaid, at which
point the cash distribution will follow KME's and our respective ownership interests. Finally, we have committed to utilize
at least two drilling rigs in our core area for three years following the closing of the Endeavor Gathering joint venture. We expect
to close the Endeavor Gathering joint venture transactions in early November 2009.

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