Gastar Updates Recent East Texas Bossier Well Completions

Gastar Exploration said that changes to its gas gathering system to allow gas gathering at higher field pressures.

The Donelson #3 well is flowing at a current gross sales rate of approximately 20 MMcfd and 8,300 psi flowing casing pressure from a single Bossier zone completion. The Wagner #1 well is flowing from a single Bossier zone at a current gross sales rate of approximately 3.9 MMcfd. Gastar has a 67% working interest and an approximate 50.0% net revenue interest in the Donelson #3 well and a 50% working interest and an approximate 37.5% net revenue interest in the Wagner #1 well.

The John Parker #3, a vertical well drilled to the Knowles Limestone formation, is producing at a current gross sales rate of approximately 2.0 MMcfd prior to stimulation. In an effort to further enhance production, the John Parker #3 well is scheduled for an acid fracture stimulation during the week of August 13th, following operational delays caused by area flooding. Gastar currently is drilling the Lone Oak Ranch #4, a horizontal Knowles Limestone well, which is expected to reach total depth in approximately three weeks.

J. Russell Porter, Gastar's President & CEO, stated, "We are pleased that the Donelson #3 well is producing at such an attractive rate from just one Bossier zone completion, and at this time, we do not anticipate completing any additional zones in the near-term. We are moving forward with our evaluation of the Wagner #1 well, with plans to add additional Bossier completions at a later date."

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