For the fourth quarter the oil producer posted earnings of 1 cent a share, missing analysts' estimates of 6 cents a share by 5 cents. Revenue grew 41.7% from the year-ago quarter to $26.72 million. Analysts expected revenue of $26.91 million.
"Gastar's fourth quarter results partially reflect the benefits of our recent acquisitions and divestitures, which resulted in a more favorable production mix with 39% of total volumes comprised of higher-value liquids," Gastar president and CEO J. Russell Porter said in a press release. " As a result, revenue from production and adjusted EBITDA were up sharply quarter over quarter, as well as year over year. We believe our recent acquisitions will result in significant future production growth that will yield solid returns going forward."
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