Tue, Mar. 17, 6:18 PM
- Gastar Exploration (NYSEMKT:GST) is maintained with a Buy rating but a reduced stock price target of $4, down from $5, at Canaccord in response to the company’s Q4 earnings miss.
- The firm attributes part of the Q4 miss to lease operating expenses that unexpectedly exceeded guidance, but remains favorable on GST’s prospects, believing a strong liquidity position leaves it well positioned through 2016 when a stronger commodity environment should enable re-acceleration in core multi-stacked Midcon and Appalachian acreage.
- Shares earlier were upgraded to Buy from Accumulate at Global Hunter, citing production moving higher, capex being reigned in, and a solid liquidity position.
Thu, Mar. 12, 4:08 PM| 8 Comments
Wed, Mar. 11, 5:35 PM
Mon, Feb. 2, 11:49 AM
- Sterne Agee's Tim Rezvan analyzed the hedge portfolios of E&P companies who are very much "in the money" and formally aggregated estimated values of hedge portfolios for companies he covers, and his results show the values vary widely across the group.
- Among the oil-focused producers, Denbury Resources (DNR +8.1%) is far and above all others with a hedge portfolio worth $811M, 33% of current market cap; other standouts include Gastar Exploration (GST +5.5%), Oasis Petroleum (OAS +6.2%), Carrizo Oil & Gas (CRZO +5.4%) and Approach Resources (AREX +9.1%).
- Rezvan says he expects rhetoric to continue from operators over the next three months on monetizing all or some hedges to raise cash. saying "the question will be if operators go naked on the hedge side in an outright bet on an oil price rebound, or if they simultaneously layer in costless collars around strip pricing."
Mon, Feb. 2, 11:29 AM
- Gastar Exploration (GST +5.5%) reports year-end 2014 proved reserves rose 87% Y/Y to 102.1M boe, comprised of 53% liquids (oil, condensate and natural gas liquids) and 47% natural gas.
- GST says Q4 production averaged 11.7K boe/day.
- Says it has further reduced its 2015 capital budget to $103M from the previously announced $173M, but still expects 2015 production to increase ~22%.
Thu, Jan. 8, 9:15 AM
Mon, Jan. 5, 5:35 PM
Mon, Jan. 5, 4:58 PM
- Gastar Exploration (NYSEMKT:GST) -8.4% in today's trade even as a state judge in West Virginia rejected the second of a pair of lawsuits by an Axiall (NYSE:AXLL) unit seeking to halt GST's fracking operations in the Marcellus Shale.
- GST said the judge agreed with it that the plaintiffs were legally precluded from retrying its claims in West Virginia after losing a nearly identical lawsuit in Pennsylvania in October.
- GST also said it recently completed 10 new wells in Marshall County that are now producing a combined gross rate of 28.7B cf of unprocessed natural gas and 3,300 bbl/day of condensate on a restricted basis.
- Topeka Capital cut its price target on GST to $6 from $8 even while saying the company is in good shape to land within its Q4 2014 production guidance of 66M-72M cfe/day and that the new wells should contribute to strong momentum in Q1 2015 (Briefing.com).
Mon, Jan. 5, 12:48 PM
Dec. 3, 2014, 5:39 PM
Nov. 6, 2014, 4:17 PM
Nov. 5, 2014, 5:35 PM
- ABCO, ACET, AEL, AGO, AIRM, AL, ALIM, AMRN, ANAC, ANET, APEI, ARC, AUQ, BBRG, BCEI, BEBE, BNFT, BPZ, BRKR, BRS, CFN, CLVS, CPST, CSC, CVT, DAR, DIOD, DIS, DVA, DXCM, EAC, EBS, ECOM, ECPG, ED, EGOV, ELON, ENOC, ENV, EVC, EZPW, FF, FI, FICO, FIVN, FNGN, FSLR, FTEK, FWM, FXCM, GST, GXP, HCI, HGR, HNSN, HPTX, HTGC, IGT, INFI, JJSF, KING, KOG, KTOS, LGF, LNT, LOCO, MATX, MDRX, MDVN, MITK, MM, MNST, MNTX, MRC, MSCC, MTD, NES, NFG, NKTR, NOG, NU, NVDA, NVDQ, OLED, ONTY, PCTY, PFMT, PRO, PSEC, PSIX, QTWO, RBCN, RENT, RIG, ROVI, RPTP, RRMS, RSYS, RXN, SAPE, SF, SFM, SLXP, SPPI, SSTK, SWKS, TCRD, TKMR, TRMR, TRNX, TUMI, UBNT, UEPS, UNXL, VOLC, VRNS, VVC, WAGE, WIFI, XOMA, XOXO, YUME, ZGNX, ZNGA
Sep. 29, 2014, 11:19 AM
- West Virginia is ready to let companies drill for oil and natural gas deep beneath 14 miles of the Ohio River, as state officials opened bids Friday as it seeks a substantial revenue stream at a time of tight budgets.
- Environmentalists re alarmed at the proposal, since it would allow drilling a mile beneath a river that provides drinking water to millions of people.
- Magnum Hunter (NYSE:MHR), Noble Energy (NYSE:NBL), Gastar Exploration (NYSEMKT:GST) and Statoil (NYSE:STO) submitted bids with 20% royalty rates; state officials plan to pick winners in the next week or two.
Sep. 15, 2014, 5:38 PM
Sep. 15, 2014, 4:49 PM
- Gastar Exploration (NYSEMKT:GST) -6.1% AH after saying it will offer 17M common shares pursuant to a previously filed shelf registration with an underwriters' option to purchase up to an additional 2.55M shares.
- GST plans to use the proceeds to repay all outstanding borrowings under its revolving credit facility, to fund its drilling and development program and for general corporate purposes.
- GST also says its board approved a 2015 capital budget of ~$257M.
Sep. 8, 2014, 10:24 AM
- Gastar Exploration (GST +2%) moves higher in early trading after saying its first Utica/Point Pleasant natural gas well produced at a better than expected initial 48-hour gross sales rate of 29.4M cf/day.
- GST says it anticipates an additional three gross wells will be placed on flow back before the end of Q3.
GST vs. ETF Alternatives
Other News & PR