Past year: ▼ 100%(0.22c – 99.9c USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Sept 2010production update▲ Good
Gastar reported that Streater #1 (100% working interest before payout) was completed in a single middle Bossier zone and is producing about 10.3 MMCFD gross at about 8,900 psi flowing casing pressure. It plans at least two more Bossier completions once pressure in this zone declines. This resolves the open question on the Streater #1 test result.
30 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director Robert David Penner had 2,667 shares withheld for taxes on vesting stock.
24 Sept 2010material agreement▲ GoodMajor
On September 21, 2010 Gastar's subsidiary agreed to assign Atinum Marcellus I LLC (a Korean investment firm affiliate) an initial 21.43% of its Marcellus Shale assets (~34,200 net acres in West Virginia and Pennsylvania) for $70M: $30M cash at closing and $40M over time as a drilling carry. Atinum would end up with 50% once the carry is funded. Closing is expected in 30-45 days, subject to Korean government approvals. This turns the Marcellus plan noted earlier (one well in 2010, up to 17 gross wells in 2011) into a partnered program with a minimum of 12 horizontal wells in 2011 and 24 in each of 2012 and 2013, and Gastar remains operator.
21 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 10,911 shares withheld for taxes on vesting stock.
21 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director John R. Rooney had 2,235 shares withheld for taxes on vesting stock.
21 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director Robert David Penner had 2,000 shares withheld for taxes on vesting stock.
21 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 1,250 shares withheld for taxes on vesting stock.
21 Sept 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 6,613 shares withheld for taxes on vesting stock.
3 Sept 2010substantial holder notice● Neutral
Palo Alto Investors, Inc, Palo Alto Investors, LLC, William Leland Edwards, Anthony Joonkyoo Yun, MD reported a GASTAR EXPLORATION, INC. shareholding of 28,000 shares (0.10% of votes) in a periodic institutional filing.
2 Sept 2010substantial holder notice● Neutral
Palo Alto Investors, Inc, Palo Alto Investors, LLC, William Leland Edwards, Anthony Joonkyoo Yun, MD reported a GASTAR EXPLORATION, INC. shareholding of 2,919,794 shares (5.80% of votes) in a periodic institutional filing.
31 Aug 2010substantial holder notice● Neutral
Palo Alto Investors, Inc, Palo Alto Investors, LLC, William Leland Edwards, Anthony Joonkyoo Yun, MD, Palo Alto Small Cap Master Fund, L.P, Palo Alto Small Cap Fund, L.P reported a GASTAR EXPLORATION, INC. shareholding of 3,592,594 shares (7.10% of votes) in a periodic institutional filing.
11 Aug 2010production update▲ Good
Gastar reported that the Streater #1 middle Bossier well in East Texas was drilled to 17,800 feet and found about 83 net feet of pay in the middle and upper Bossier. It plans three initial completions, with the first expected online by end of September, at a projected cost of about $9.0M. The company holds 100% working interest before payout. This follows the earlier drilling update, when the well was still being drilled.
9 Aug 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director John R. Rooney had 1,113 shares withheld for taxes on vesting stock.
5 Aug 2010quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $5.8 million and a net loss of $2.5 million for the period ended 2010-06-30.
5 Aug 2010quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $5.8 million and a net loss of $2.5 million for the period ended 2010-06-30.
29 July 2010quarterly activities report▼ Bad
GASTAR EXPLORATION, INC. reported quarterly revenue of $5.8 million and a net loss of $2.5 million for the period ended 2010-06-30.
29 July 2010financial restatement● NeutralMajor
Gastar said its first-quarter 2010 results (10-Q filed May 6, 2010) should no longer be relied on, because hedge contract receivables had wrongly been netted against premiums payable. Restated, Q1 net income rises from $27 thousand to $9.39 million ($0.19 per share) and shareholders' equity from $165.6M to $175.0M. The filing says operating cash flow ($7.37M) is unchanged, and the error is an accounting presentation matter rather than new cash.
21 July 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 3,968 shares withheld for taxes on vesting stock.
21 July 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 2,425 shares withheld for taxes on vesting stock.
8 July 2010production update▲ Good
In a July 8, 2010 drilling update, Gastar reported initial gross rates of 8.6 MMCFD (B-6 zone) and 10.7 MMCFD (B-5 zone) on the Donelson #4 well (67% working interest), and said Belin #1 has been back on production since June 21 at 7.5 MMCFD gross (50% working interest). It drilled and completed the Wildman #6H Glen Rose well but is withholding results, and is drilling Streater #1. Plans mentioned: testing Eagle Ford shale on Hilltop acreage, one more lower Bossier well, one operated Marcellus well later in 2010, and up to 17 gross horizontal Marcellus wells in 2011. This confirms the Belin #1 recovery mentioned in the June credit amendment.
28 June 2010material agreement▼ BadMajor
On June 24, 2010 Gastar amended its Amegy revolver to allow more hedging (up to 80% of proved developed producing reserves, with limits on floors and protective spreads removed). The same amendment cut the borrowing base from $47.5M to $40.0M, which the filing ties primarily to the delay in returning the Belin #1 well in Hilltop to production after re-completion attempts. The company says Belin #1 is now back on production from all prior zones plus three newly completed ones. This reverses the borrowing base level set in October 2009.
20 May 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Executive Officer & Pres J Russell Porter had 3,968 shares withheld for taxes on vesting stock.
20 May 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. director John Michael Sr Selser had 1,667 shares withheld for taxes on vesting stock.
20 May 2010director interest notice● Neutral
GASTAR EXPLORATION, INC. Chief Financial Officer & VP Michael A Gerlich had 2,645 shares withheld for taxes on vesting stock.
17 May 2010substantial holder notice● Neutral
Palo Alto Investors, Inc, Palo Alto Investors, LLC, William Leland Edwards, Anthony Joonkyoo Yun, MD, Palo Alto Small Cap Master Fund, L.P, Palo Alto Small Cap Fund, L.P reported a GASTAR EXPLORATION, INC. shareholding of 4,161,944 shares (8.30% of votes) in a periodic institutional filing.
16 Apr 2010director interest notice● Neutral
John R. Rooney became a GASTAR EXPLORATION, INC. director and company insider (initial ownership filing).
16 Mar 2010late filing notice▼ Bad
GASTAR EXPLORATION, INC. notified the SEC that its annual report would be filed late.
10 Feb 2010substantial holder notice● Neutral
Chesapeake Energy Corporation reported a GASTAR EXPLORATION, INC. shareholding of 6,781,767 shares (13.56% of votes) in a periodic institutional filing.
20 Jan 2010director interest notice● Neutral
Randolph C Coley became a GASTAR EXPLORATION, INC. director and company insider (initial ownership filing).
19 Jan 2010director interest notice● Neutral
Randolph C Coley became a GASTAR EXPLORATION, INC. director and company insider (initial ownership filing).
