Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Private Equity Activity
Gastar's Hunton Lime, Marcellus Wells Up Reserves 81%
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Gastar Exploration Inc. has reported an update of the Company's year-end reserves and preliminary fourth quarter 2013 production results.
Summary Highlights Year-end 2013 SEC proved reserves increased 81% to 327.8 billion cubic feet equivalent, or 54.6 million barrels of oil equivalent. The pre-tax SEC-priced present value of future cash flows of these reserves, discounted at 10%, grew 187% to $592.5 million as compared to year-end 2012. In 2013, excluding acquisitions, we replaced approximately 535% of our 2013 preliminary annual production of 19.4 Bcfe, or 3.2 MMBoe. Fourth quarter 2013 preliminary production averaged approximately 55.2 million cubic feet of natural gas equivalent per day, or 9.2 thousand barrels of oil equivalent per day and consisted of 39% liquids and 61% natural…Finish this article — free account or subscription
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