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Gastar To Sell Non-Core Oklahoma Acreage

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July 8, 2013

Gastar Exploration Ltd. (NYSE: GST) plans to sell its interests in about 76,000 net acres in Kingfisher and Canadian counties, Okla., for about US $62 million in cash to an undisclosed buyer.

The acres to be sold are part of the undeveloped leases acquired by Gastar on June 7, in a transaction with Chesapeake Energy Corp. (NYSE: CHK) that included drilling rights on 157,000 net acres in Oklahoma, along with approximately 2.8 million barrels of oil equivalent of proved developed producing (PDP) reserves.

Gastar also announced that its partner in ...

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