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Gastar Updates Initial Utica/Point Pleasant Well

Source: www.gulfoilandgas.com 6/16/2014, Location: North America

Gastar Exploration Inc. has reached total depth on the vertical pilot hole for its first Utica/Point Pleasant well in Marshall County, West Virginia. The Simms 5-UH well was drilled to a total depth of 11,410 feet and encountered approximately 92 net feet of pay in the Point Pleasant formation with measured porosities up to 17%. Gastar expects estimated formation pressures to be approximately 9,400 psi upon completion of the well.

Gastar is currently plugging back the well in order to drill a 4,200 foot horizontal section in the Point Pleasant formation. After drilling the lateral, a 23-stage completion is planned followed by a three week "soaking" of the well with first production expected in late August 2014.

Gastar's President and CEO, J. Russell Porter, commented, "These results have confirmed our expectations regarding the Utica/Point Pleasant formation. As a result of this information, and the Utica/Point Pleasant results reported by other nearby operators, we are planning to move forward with a program that should rapidly de-risk this asset and add substantial net asset value to Gastar."

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