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  • Gastar Exploration Ltd. (GST) Reports Well Completion in East Texas 0 comments
    Oct 1, 2010 11:16 AM | about stocks: GST
    Gastar Exploration Ltd. reported the successful completion of a horizontal well in East Texas. The company plans to drill two additional wells on its properties here.

    Gastar Exploration Ltd. said that the Streater #1 well was completed to the middle Bossier zone, and was producing at a gross rate of 10.2 million cubic feet per day of natural gas. The well was operating under a flowing casing pressure of approximately 8,900 pound per square inch.

    Gastar Exploration Ltd. has a 32,000 gross acre position that is prospective for the Upper and Middle Bossier formation zones. The acreage position is concentrated in Leon and Robertson Counties, and Gastar Exploration Ltd. is also pursuing the Knowles Limestone, located just above the Bossier formation at 14,000 feet.

    The Bossier formation was deposited during the Jurassic age, and is a deep reservoir of over pressurized natural gas running under parts of East Texas. Gastar Exploration Ltd. drilled its first well to the Bossier in 2001, and has completed more than a dozen wells in the play to date.

    Gastar Exploration Ltd. has oil and gas properties in the Powder River Basin in Wyoming, where the company is developing coal bed methane wells. The company also has approximately 37,000 net acres in West Virginia and Pennsylvania that are prospective for the Marcellus Shale.

    For more information on the company, go to gastar.com
     
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    Stocks: GST
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