MissionIR's  Instablog

Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
My blog:
MissionIR Blog
  • Gastar Exploration Ltd. (GST) Updates Financial and Operational Data for Second Quarter of 2011 0 comments
    Aug 8, 2011 5:35 PM | about stocks: GST
    Gastar Exploration Ltd. disclosed a financial and operational update on the company’s oil and gas activities in the onshore area of the United States. The company is active mostly in the Appalachian Basin in the United States.
    Gastar Exploration reported that average daily production during the second quarter of 2011 was 18.6 million cubic feet of natural gas equivalents per day, up from 15.8 million cubic feet of natural gas equivalents per day in the comparable quarter in 2010.
    Gastar Exploration recently drilled and completed two successful wells in the Appalachian Basin with a combined production rate of 15.5 million cubic feet of natural gas and 1,100 barrels of condensate per day. The company estimates that it has an additional seventy two well locations on its nearby properties.
    Gastar Exploration reported that the company held cash and cash equivalents of $5.5 million at the end of the second quarter of 2011. The company also has $42.0 million of available borrowing under its credit facility.
    Gastar Exploration estimates that required capital expenditures for the balance of 2011 are $37.3 million, with approximately 80% of these expenditures for oil and gas development in the Appalachian Basin. The company expects to fund this with cash on hand, operational cash flow and borrowing.
    For more information on the company, go to gastar.com
    Please see disclaimer on the MissionIR website www.missionir.com/disclaimer.html 
    Stocks: GST
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.