NEW YORK (TheStreet) -- Gastar Exploration (GST) rose on Tuesday after the company announced it would hold an analyst meeting on April 2 to discuss, among other things, its expanded Marcellus Shale drilling inventory.
According to Gastar's press release, the meeting for equity research analysts will highlight:
- The company's expanded Marcellus Shale drilling inventory with 106 net remaining undrilled locations and a projected internal Marcellus type curve of 8.0 Bcfe gross (6.6 Bcfe net) estimated ultimate recovery (EUR) per well based on planned enhanced completion procedures and expected initial production and EUR improvements in the Marcellus Shale play on these future locations. Gastar estimates the total remaining net Marcellus resource to be developed is approximately 700 Bcfe.
- Gastar's Utica/Point Pleasant potential underlying its Marcellus Shale assets in 57 net undrilled locations exposing Gastar to approximately 700 Bcfe of net resource (company estimate) and the Company's near-term Utica/Point Pleasant drilling plans.
- Gastar's plans for the 400+ net Hunton Oil Play drilling locations it currently controls along with information on the multiple pay zones under Gastar's Mid-Continent leasehold, including over 200 gross Woodford Shale and 500 gross Meramec Shalelocations, as well as future plans to begin testing these additional formations.
The stock was up 11.43% to $6.09 at 12:45 p.m. on Tuesday.
Must Read: Warren Buffett's 10 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV