Forestar Group Inc. (Forestar) is a real estate and natural resources company. It owns directly or through ventures almost 147,000 acres of real estate located in nine states and 12 markets and about 595,000 net acres of mineral interests. As of December 31, 2011, it had approximately 131,000 acres of timber on its 147,000 real estate acres and about 17,000 acres of timber under lease. During the year ended December 31, 2011, it generated revenues of $136 million. It operates in three segments: Real estate, Mineral resources and Fiber resources. Its real estate segment generated 78% of its 2011 consolidated revenues. It sells wood fiber from portions of its land, primarily in Georgia, and lease land for recreational uses. It leases its mineral interests to third parties for exploration and production of oil and natural gas, principally in Texas and Louisiana. On January 20, 2012, it sold its 25% interest in Palisades West LLC. In September 2012, it acquired CREDO Petroleum Corp.