Exploration & Production | Capital Markets | Private Equity Activity
Gastar Exploration Ltd. Reports Marcellus Drilling Results
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Gastar Exploration Ltd., today reported operating results for the three and six months ended June 30, 2012.
Operations Review and Update
Marcellus Shale
Net production from the Marcellus Shale area averaged 20.7 MMcfe per day in the second quarter of 2012, compared to 0.6 MMcfe per day for the second quarter of 2011 and 14.0 MMcfe per day in the first quarter of 2012. Liquids yields averaged approximately 24 barrels of condensate and 47 barrels of NGLs per MMcf of natural gas produced during the second quarter of 2012.
In Marshall County, West Virginia, we began the second quarter with 12 gross (5.2 net) operated Marcellus wells on production. During the quarter we brought on production eight gross (3.5 net) additional operated wells but temporarily shut-in the Wengerd 1H and 7H wells to…
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