Richard Zeits • 17 Comments
Richard Zeits • 11 Comments
Oct. 14, 2015, 5:29 PM
- Gastar Exploration (NYSEMKT:GST) agrees to acquire working and net revenue interests in 103 gross producing wells and undeveloped acreage in the STACK and Hunton Limestone formations in Oklahoma from Husky Ventures for $43.3M.
- GST says current net production of the wells being acquired is ~625 boe/day (46% oil, 28% natural gas, 26% natural gas liquids), and it will assume operatorship of 70 of the 103 gross wells; estimated proved reserves total ~1.2M boe (43% oil, 29% natural gas, 28% NGLs).
- GST also says it will seek to sell its Marcellus Shale and Utica/Point Pleasant acreage, in order to focus on its Oklahoma assets and strengthen its balance sheet.
Jun. 7, 2013, 3:16 PM
Gastar Exploration (GST +3.6%) says it's completed its acquisition of proven reserves and undeveloped leasehold interests in Kingfisher and Canadian Counties, Oklahoma, from Chesapeake Energy (CHK) for $84M. The company also reports that as of today, Michael McCown will assume the position of senior vice president and chief operating officer. Michael Gerlich will continue as GST's CFO and has been promoted to senior vice president.| Jun. 7, 2013, 3:16 PM