HOUSTON, April 10, 2017 /PRNewswire/ -- Gastar
Exploration Inc. (NYSE MKT: GST) ("Gastar") announced today that it
has declared monthly cash dividends on its 8.625% Series A
Preferred Stock ("Series A Preferred Stock") and its 10.75% Series
B Preferred Stock ("Series B Preferred Stock") for April 2017.
The dividend on the Series A Preferred Stock is payable on
May 1, 2017 to holders of record at
the close of business on April 20,
2017. The April 2017 dividend
payment will be an annualized 8.625% per share, which is equivalent
to $0.1796875 per share, based on the
$25.00 per share liquidation
preference of the Series A Preferred Stock. The Series A
Preferred Stock is currently listed on the NYSE MKT and trades
under the ticker symbol "GST.PRA."
The dividend on the Series B Preferred Stock is payable on
May 1, 2017 to holders of record at
the close of business on April 20,
2017. The April 2017 dividend
payment will be an annualized 10.75% per share, which is equivalent
to $0.2239584 per share, based on the
$25.00 per share liquidation
preference of the Series B Preferred Stock. The Series B
Preferred Stock is currently listed on the NYSE MKT and trades
under the ticker symbol "GST.PRB."
About Gastar
Gastar Exploration Inc. is a pure play
Mid-Continent independent energy company engaged in the
exploration, development and production of oil, condensate, natural
gas and natural gas liquids. Gastar's principal business activities
include the identification, acquisition, and subsequent exploration
and development of oil and natural gas properties with an emphasis
on unconventional reserves, such as shale resource plays. Gastar
holds a concentrated acreage position in what is believed to be the
core of the STACK Play, an area of central Oklahoma which is home to multiple oil and
natural gas-rich reservoirs including the Meramec, Oswego,
Osage, Woodford and Hunton formations. For more
information, visit Gastar's website at www.gastar.com.
Forward-Looking Statements
This news release
includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements give our current
expectations, opinion, belief or forecasts of future events and
performance. A statement identified by the use of
forward-looking words
including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "will," "should," and
certain of the other foregoing statements may be deemed
forward-looking statements. Although Gastar believes
that the expectations reflected in such forward-looking statements
are reasonable, these statements involve risks and uncertainties
that may cause actual future activities and results to be
materially different from those suggested or described in this news
release. These include risks inherent in oil and natural
gas drilling and production activities, including risks with
respect to continued low or further declining prices for oil and
natural gas that could result in further downward revisions to the
value of proved reserves or otherwise cause Gastar to further delay
or suspend planned drilling and completion operations or reduce
production levels, which would adversely impact cash flow; risks
relating to the availability of capital to fund drilling operations
that can be adversely affected by adverse drilling results,
production declines and continued low or further declining prices
for oil and natural gas; risks of fire, explosion, blowouts, pipe
failure, casing collapse, unusual or unexpected formation
pressures, environmental hazards, and other operating and
production risks, which may temporarily or permanently reduce
production or cause initial production or test results to not be
indicative of future well performance or delay the timing of sales
or completion of drilling operations; delays in receipt of drilling
permits; risks relating to unexpected adverse developments in the
status of properties; risks relating to the absence or delay in
receipt of government approvals or third-party consents; risks
relating to Gastar's ability to realize the anticipated benefits
from acquired assets; and other risks described in Gastar's Annual
Report on Form 10-K and other filings with the U.S. Securities and
Exchange Commission ("SEC"), available at the SEC's website at
www.sec.gov. By issuing forward-looking
statements based on current expectations, opinions, views or
beliefs, Gastar has no obligation and, except as required by law,
is not undertaking any obligation, to update or revise these
statements or provide any other information relating to such
statements.
Contacts:
Gastar Exploration Inc.
J. Russell Porter, Chief Executive
Officer
713-739-1800 / rporter@gastar.com
Investor Relations Counsel:
Lisa Elliott /
lelliott@DennardLascar.com
Dennard-Lascar Associates: 713-529-6600
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SOURCE Gastar Exploration Inc.