Operational Updates | Capital Markets | Private Equity Activity
Gastar Grows Marcellus Production in Third Quarter
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Gastar Exploration Ltd. has reported financial and operating results for the three and nine months ended September 30, 2012.
J. Russell Porter, Gastar's President and CEO, stated, "During the third quarter we continued to increase our production of oil and liquids-rich gas from the Marcellus Shale. We generated almost $10 million of cash from operations, and our drilling program is proceeding at an aggressive pace. The production rates of our Marcellus wells are continuing to meet or exceed our expectations while we have further reduced our drilling costs. As we move westward on our acreage position, we are continuing to see an increase in the percentage of condensate yields from our wells, which further enhances the already strong economics of our play. We are also excited to have…
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