Production Rates | Production Guidance/Forecast | Private Equity Activity

Gastar Lowers 2017 Production Expectations

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   |    Wednesday,October 11,2017

[Summary: Gastar Exploration has updated its Q3 2017 guidance and full year 2017 production.

  • Expects Q3 production in the range of 6,100-6,300 BOEPD (down -5% at midpoint from prior disclosed guidance of 6,300-6,800 BOEPD)
  • Expects full year 2017 production in the range of 6,000-6,400 BOEPD (down -5% at midpoint from prior disclosed guidance of 6,200-6,800 BOEPD)

The change in production guidance is the result of operational challenges that Gastar believes have been resolved.]

Original Release:

Gastar Exploration Inc. (NYSE MKT: GST) ("Gastar" or the "Company") today updated its guidance for third quarter and full year 2017 production.

Gastar expects to report third quarter 2017 production in the range of 6,100-6,300 barrels of oil equivalent ("Boe") per day ("Boe/d"), down from prior disclosed guidance of 6,300-6,800 Boe/d, and full year 2017 production in the range of 6,000-6,400 Boe/d, down from prior disclosed guidance of 6,200-6,800 Boe/d, with no change in liquids percentage guidance for either period. The change in production guidance is the result of operational challenges that Gastar believes have been resolved.

J. Russell Porter, Gastar's President and CEO, commented, "We continue to be pleased with recent results that our new COO and his team have produced and look forward to a more comprehensive operational update on our third quarter earnings call."


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