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Stock Market & Financial Investment News

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August 30, 2013
07:07 EDTGSTGastar Exploration announces increase in purchase price on property sale
Gastar Exploration announced that it has agreed to provide Cubic Energy an additional extension until September 20 on the closing of the previously announced sale of Gastar's East Texas properties. In a separate release, Cubic Energy announced its financing plans for funding the acquisition of Gastar's working interest in the East Texas properties. As compensation for the extension, Cubic Energy has agreed to pay Gastar an additional $1M at closing, bringing the total transaction value to $47M before closing adjustments.
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July 21, 2014
17:28 EDTGSTGastar Exploration's mid-year proved reserves increase 43%
Gastar Exploration reported estimated proved reserves of natural gas, oil and condensate and natural gas liquids as of June 30 of 78.0M BOE, a 43% increase over December 31, 2013 proved reserves of 54.6M BOE. 54% were natural gas, 26% were oil and condensate and 20% were NGLs vs. 55% natural gas, 27% oil and condensate and 18% NGLs at year-end 2013. The pre-tax present value discounted at 10% of proved reserves increased to $826.3M at June 30, up 39% vs. year-end 2013. Proved undeveloped reserves at mid-year 2014 represented approximately 62% of total proved reserves vs. 44% at year-end 2013.
July 16, 2014
17:36 EDTGSTGastar Exploration initiated with a Buy at Canaccord
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