Exploration & Production | Top Story | Quarterly / Earnings Reports | Deals - Acquisition, Mergers, Divestitures | Capital Markets | Private Equity Activity
Gastar Wraps Up Bossier, Eaglebine Ops as Divestiture Pends
Print
|
Gastar Exploration Ltd. has reported a Q2 update on its East Texas operations, which include the Bossier and Eaglebine/Woodbine plays.
In East Texas, second quarter 2013 net production from the Hilltop area averaged 9.5 MMcfe per day, compared to 13.7 MMcfe per day in the prior-year period and 11.0 MMcfe per day in the first quarter of 2013. The lower year-over-year volumes reflect natural declines in field production that were not offset by additional drilling or recompletion operations due to low natural gas prices and pending sale of these assets.
Second quarter capital expenditures in East Texas were $400,000, primarily consisting of lease renewal cost.
On April 22, 2013, we announced that we have entered into a definitive agreement to sell our East Texas assets for $46.0 million…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations