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Gastar Taps Firms to Assist in Strategic Review
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Pure-play STACK E&P Gastar Exploration has tapped three firms to advise the company as it considers potential strategic transactions, including financing, refinancing, sale, or merger transactions, and is encouraging proposals from existing stakeholders and interested third-parties.
Gastar has retained Kirkland & Ellis LLP, as legal advisor and Perella Weinberg Partners L.P. and Tudor Pickering & Holt L.P., as financial advisors.
Jerry Schuyler, the interim Chief Executive Officer and Board Chairman of Gastar, commented: "We are running an open process to consider all strategic transactions, including financing, refinancing, sale, or merger transactions, or other forms of restructuring. We encourage all existing stakeholders and interested third-parties to participate."
Gastar previously disclosed in its Form 8-K filed on July 23, 2018 that it received a non-binding preliminary term sheet from funds affiliated with Ares Management proposing a potential restructuring transaction through a sale, among other means.
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