- Gastar Exploration (NYSEMKT:GST) +3.7% AH after agreeing to acquire additional working and net revenue interests in 66 gross producing wells and 5,670 net acres of additional STACK oil and gas leasehold in Oklahoma.
- GST says current net production associated with the acquired well interests is ~330 boe/day (49% oil), and 57% of the acreage is held-by-production.
- GST says the $51M acquisition was funded through a tack-on issuance to funds managed by Ares Management (ARES) of an additional $75M principal amount of GST's previously issued convertible notes due 2022.