HOUSTON, June 5, 2017 /PRNewswire/ -- Gastar
Exploration Inc. (NYSE MKT: GST) ("Gastar" or the "Company") is
pleased to announce that Stephen P.
Roberts has joined Gastar as Senior Vice President and Chief
Operating Officer effective immediately.
Mr. Roberts joins Gastar from Jones Energy, Inc. ("Jones
Energy") where he served as a Senior Vice President over the
Anadarko and Arkoma asset groups and as Senior Vice
President of Drilling and Completions. During his 19-year
tenure with Jones Energy, he was directly responsible for the
drilling and completion of over 700 horizontal wells in seven
different formations and led the efforts that established Jones
Energy as the recognized lowest cost operator in the Texas
Panhandle. Prior to joining Jones Energy, he held various
positions of increasing responsibility with Marathon Oil
Corporation and Samson Resources Corporation. Mr. Roberts
holds a B.S. degree in Petroleum Engineering and a M.B.A. in
Finance from Texas Tech University.
J. Russell Porter, Gastar's
President and CEO, commented, "We are excited that Stephen has
chosen to join Gastar to lead our operational efforts. Over
his 29-year career in the energy industry, he has established a
legacy of building strong operational teams, including both
technical and field staff, which have delivered unsurpassed results
year after year. Stephen will be responsible for Gastar's
operating activity as we continue to de-risk and delineate the
various productive formations on our 62,600 net acre STACK
position."
Mr. Roberts commented, "I am delighted to join Gastar and lead
the operations team in pursuit of operational excellence as we
further exploit a very exciting asset base in the STACK play.
Over the last year, Gastar has accumulated valuable well data that
will benefit our efforts to effectively progress the delineation
program. I am confident that we will be able to improve
production results and reduce operating costs as Gastar transitions
into a more active phase in its evaluation of its STACK
position."
About Gastar Exploration
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 the normally pressured oil window of the STACK Play, an
area of central Oklahoma which is
home to multiple oil and natural gas-rich reservoirs including the
Meramec and Osage limestone
formations, the Oswego limestone, the Woodford shale and Hunton limestone
formations. For more information, visit Gastar's website at
www.gastar.com.
Forward Looking Statements
This news release also 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, earthquakes or other 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, Quarterly Reports
on Form 10-Q and other filings with the U.S. Securities and
Exchange Commission (the "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, President &
Chief Executive Officer
713-739-1800 / rporter@gastar.com
Investor Relations Counsel:
Lisa Elliott, Dennardâ–ªLascar
Associates:
713-529-6600 / lelliott@DennardLascar.com
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SOURCE Gastar Exploration Inc.