HOUSTON – Gastar Exploration Ltd. (NYSE Amex: GST) has completed the Streater #1 well in a single middle Bossier zone. The well is producing at a gross sales rate of roughly 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."
In August, Porter, told OGFJ that the company considers the East Texas Bossier play as part of its core acreage. Read the full interview here.
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."
In August, Porter, told OGFJ that the company considers the East Texas Bossier play as part of its core acreage. Read the full interview here.
The well completion comes on the heels of Gastar’s recent $70 million Marcellus shale joint venture with South Korea-based investment firm Atinum Partners Co. Ltd.
Source: Gastar Exploration Ltd.
Source: Gastar Exploration Ltd.
