23 May 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 1,667 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 May 2011quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $8.1 million and a net loss of $1.9 million for the period ended 2011-03-31.
5 May 2011quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $8.1 million and a net loss of $1.9 million for the period ended 2011-03-31.
19 Apr 2011agm notice● Neutral
GASTAR EXPLORATION, INC. shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 5,786 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 992 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 469 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 661 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director Robert David Penner had 375 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director Robert David Penner had 750 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director Randolph C Coley had 938 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 8,266 shares withheld for taxes on vesting stock.
30 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 938 shares withheld for taxes on vesting stock.
23 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director Robert David Penner had 375 shares withheld for taxes on vesting stock.
23 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 469 shares withheld for taxes on vesting stock.
23 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 992 shares withheld for taxes on vesting stock.
23 Mar 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 661 shares withheld for taxes on vesting stock.
22 Feb 2011substantial holder notice● Neutral
Chesapeake Energy Corporation reported a GASTAR EXPLORATION, INC. shareholding of 6,781,768 shares (10.57% of votes) in a periodic institutional filing.
4 Feb 2011substantial holder notice● Neutral
BlackRock, Inc disclosed a new substantial GASTAR EXPLORATION, INC. shareholding (6.46% of votes).
28 Jan 2011substantial holder notice● Neutral
TOCQUEVILLE ASSET MANAGEMENT LP disclosed a new substantial GASTAR EXPLORATION, INC. shareholding (5.95% of votes).
4 Jan 2011director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser gifted 13,200 shares.
20 Dec 2010asset acquisition disposition▲ GoodMajor
Gastar completed on December 17, 2010 the Marcellus acquisition agreed November 5, 2010, paying about $29.1M for ~62,000 net acres in West Virginia (about 17,000 held by production), a 41-mile gathering pipeline, a salt water disposal well and five conventional gas wells producing ~500 Mcf/day gross. Management says Gastar now holds roughly 80,000 net Marcellus acres and plans two horizontal wells on the new acreage in 2011. This is the purchase the December share offering was meant to fund.
8 Dec 2010securities registration● Neutral
GASTAR EXPLORATION, INC. filed a free-writing prospectus - marketing material for an offering in progress.
8 Dec 2010securities registration● Neutral
GASTAR EXPLORATION, INC. filed a prospectus supplement for an offering off its existing shelf.
8 Dec 2010material agreement● NeutralMajor
Gastar agreed on December 7, 2010 to sell 12,000,000 new common shares at $4.00 each through underwriters led by Johnson Rice, with a 30-day option for up to 1,800,000 more; net proceeds are about $45.6M if the option is not used, and closing is expected December 13, 2010. The company says it will use the money for a $28.8M Marcellus leasehold purchase and part of the $18M ClassicStar settlement payment (the rest from cash on hand or revolver borrowings). Existing shareholders are diluted by the new shares (the filing gives no share count after the offering).
6 Dec 2010securities registration● Neutral
GASTAR EXPLORATION, INC. filed a prospectus supplement for an offering off its existing shelf.
5 Nov 2010quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $14.1 million and a net loss of $16.4 million for the period ended 2010-09-30.
5 Nov 2010asset acquisition disposition▲ GoodMajor
The Atinum Marcellus joint venture announced on September 21, 2010 closed on November 1, 2010. Atinum paid about $30.0M cash for an initial 21.43% of Gastar's ~34,200 net West Virginia/Pennsylvania Marcellus acres and a 50% working interest in 16 producing shallow wells and one non-producing vertical Marcellus well. A further $40.0M comes as a drilling carry, after which Atinum reaches 50% (about $70M total value); a post-closing title review could adjust the price. This resolves the open closing question; the filing also says the first operated horizontal well, the Wengerd #1 in Marshall County, WV, has been spudded, and an agreement to pool acreage in Butler County, PA with another operator is in place.
4 Nov 2010quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $14.1 million and a net loss of $16.4 million for the period ended 2010-09-30.
2 Nov 2010material agreement▼ BadMajor
Effective November 1, 2010 Gastar signed a settlement of the seven ClassicStar Mare Lease lawsuits with the ClassicStar Chapter 7 trustee. If the Kentucky bankruptcy court approves (hearing expected on or after November 19, 2010), Gastar will pay $21.15M in cash: $18.0M within 10 business days of approval, plus $3.15M in 16 monthly payments. Gastar admits no liability and says it settled to avoid the risk and expense of litigation.