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  • Gastar Exploration Ltd. (GST) Provides Update on U.S. Oil And Gas Operations 0 comments
    Jun 2, 2011 10:14 AM | about stocks: GST

    Gastar Exploration Ltd. recently disclosed an operational update on the company’s oil and gas activity in the United States. The company is active in developing various formations in West Virginia, Pennsylvania and Texas.

    Gastar Exploration reported that it has finished drilling two horizontal wells in West Virginia that are targeting the Marcellus Shale formation. The company said that the two wells were drilled with lateral lengths of 4,700 and 5,700 feet.

    Gastar Exploration anticipates conducting hydraulic fracturing operations on these wells in June 2011, with production expected to start the following month. The company owns a 50% working interest in both wells.

    Gastar Exploration reported the drilling and completion of a well in East Texas that targeted two lower Bossier formations. The well produced at a gross sales rate of only one million cubic feet of natural gas per day and the company is evaluating various strategies to make the well more productive. These include a second hydraulic fracturing of the well or the completion of additional formations from the same wellbore.

    Gastar Exploration is drilling a second well on its acreage in East Texas that is targeting the lower Bossier formation. The company is targeting a total depth between 16,800 and 19,000 feet on this well.

    For more information on the company, go to www.gastar.com

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Stocks: GST
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