Gastar Exploration Updates 2012 Operations; Shares Rise 3%

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Gastar Exploration Ltd. ( GST ) provided an update on results of its 2012 operating activities.

According to the company, Gastar currently has 34 gross (15.5 net) operated horizontal Marcellus Shale wells on production in Marshall County, West Virginia and is on track to achieve its guidance target of 38 gross (17.5 net) operated horizontal Marcellus wells on production by year-end. Gastar also has 19 operated horizontal Marcellus wells in various stages of drilling or awaiting completion, of which four gross (2.0 net) wells are expected to be on production by year end.

GST shares are up 3.1% to $0.9168, within a 52-week range of $0.70 - $3.39.


Shares have a day range of $0.89 - $0.9199, and a 52-week range of $0.70 - $3.39.

Total net production from the operated horizontal Marcellus Shale play for the first 16 days of December has averaged approximately 29.4 million cubic feet equivalent (MMcfe) per day.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: GST

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