Gastar Runs at Rate of 10.3 MMcfd at Streater Well
Gastar announced that the Streater #1 well was successfully completed in a single middle Bossier zone and is producing at a gross sales rate of approximately 10.3 MMCFD of natural gas at a flowing casing pressure of approximately 8,900 psi. Gastar has a 100% before payout working interest (approximately 76% before payout net revenue interest) in the Streater #1 well.
J. Russell Porter, Gastar's President and CEO, commented, "The Streater #1 well was drilled in the northern portion of Gastar's acreage and confirms that the middle and upper Bossier formations are productive across a large portion of Gastar's 32,000 gross acre leasehold. This completion is from a single zone and we plan on adding at least two additional Bossier completions once the formation pressure in this zone declines."
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