Gastar Exploration reaches total depth on Utica/Point Pleasant pilot

Gastar Exploration (GST +5.5%) moves higher after saying it reached total depth on the vertical pilot hole for its first Utica/Point Pleasant well in West Virginia.

The Simms 5-UH well was drilled to a total depth of 11,410 ft. and encountered ~92 net ft. of pay in the Point Pleasant formation.

GST is plugging back the well to drill a 4,200-ft. horizontal section in the Point Pleasant formation.

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