Gastar Successful at East Texas Well, Sees Pay from Two Formations
Gastar has successfully drilled the LOR #7ST well, a middle Bossier test, to a total depth of 16,950 feet and has logged approximately 71 net feet of pay in two middle Bossier and one upper Bossier formations. Gastar owns a 50% working interest before payout (37.5% net revenue interest before payout) in the LOR #7ST.
"The LOR #7ST was drilled after we encountered thinner-than-expected middle Bossier zones in the original hole. The new bottom-hole location was determined on the basis of analysis of the 3-D seismic data, which was confirmed with the drilling results," said J. Russell Porter, Gastar's President and CEO. "We plan to complete the well in the deepest zone first and place the well on production within the next 30 days."
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