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Gastar Touts First Operated Mermac Well; Releases Rigs
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Gastar Exploration Inc. reported financial and operating results for the three and nine months ended September 30, 2015.
Key Points: Hunton Lime: We completed four gross (3.9 net) operated wells during the third quarter of 2015, consisting of two Upper and two Lower Hunton completions on our WEHLU acreage. We recently completed our first operated Meramec Shale well, the Deep River 30-1H, with a 34-stage frac placing approximately 12 million pounds of proppant in an approximate 5,100 foot lateral at an estimated cost of $5.8 million. Early flow back results are encouraging. We have released our drilling rigs for the remainder of the year in order to preserve liquidity, further evaluate our Hunton and Meramec drilling results and monitor commodity prices and service costs. Appalachia: We…- ✓ Full news archive — U.S., Canada & international coverage
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