Gastar Exploration Ltd. Oil & Gas Exploration and Production Operations and Cost Analysis – Q4, 2011 by GlobalData

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									                   Gastar Exploration Ltd. Oil & Gas Exploration and Production
                            Operations and Cost Analysis – Q4, 2011
        Reference Code: GDGE43777OAR                                                                                       Publication Date: APR 2012

        Company Snapshot                                                               Company Overview
        Key Information                                                                Gastar Exploration Ltd (Gastar Exploration) is an independent
                                                                                       upstream energy company. The company is engaged in the
         Gastar Exploration Ltd., Key Facts                                            exploration, development and production of oil and natural gas
          Web Address                         www.gastar.com                           in the US. Gastar Exploration conducts drilling activities in the
          Financial year-end                  December                                 Hilltop area of East Texas in the deep/middle Bossier Sands
          Number of Employees                 36                                       natural gas play and explores for oil and natural gas liquids in
                                                                                       the Glen Rose Limestone and Eagle Ford/Woodbine Shale
          AMEX                                GST
                                                                                       formations.
          Source: GlobalData


         Key Ratios
           Table 1:      Gastar Exploration Ltd., Key Ratios                              Gastar Exploration Ltd., Reserves and Production,
           P/E                                 NA                                         2007-2011
           EV/EBITDA                           NA
           Return on Equity (%)                NA
           Debt/Equity                         NA
           Operating      profit   margin      NA
           (%)
           Dividend Yield                      NA
           Source: GlobalData

                                                                                          Source: GlobalData



           Gastar Exploration Ltd., Share Price Performance,                             Gastar Exploration Ltd., Key Valuation Metrics,
           USD/Share, Q4, 2010-Q4, 2011                                                  EV/Production ($/boed), EV/Proved Reserve ($/boe),
                                                                                         Q4, 2010-Q4, 2011




           Source: GlobalData
                                                                                         Source: GlobalData



            Gastar Exploration Ltd., Key Costs Per boe, $/boe,                           Gastar Exploration Ltd., Costs Incurred By Type, $m,
                                  2011                                                   2007-2011
          Parameter                                                       2011
          Oil & Gas Finding &                                              6.64
          Development Cost/boe, Annual
          Oil & Gas Finding Cost per boe,                                  4.77
          Annual
          Reserve Replacement Cost per                                     6.64
          boe, Annual
         Source: GlobalData

                                                                                         Source: GlobalData




Gastar Exploration Ltd. Operations & Cost Analysis                                                                             Reference Code: GDGE43777OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                               Page 1
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
       Table of Contents
       Table of Contents ............................................................................................................................................................................... 2
          List of Tables .................................................................................................................................................................................. 4
          List of Figures ................................................................................................................................................................................. 5
       Gastar Exploration Ltd., Valuation and Financial Data ....................................................................................................................... 8
          Gastar Exploration Ltd., Share Price Performance ......................................................................................................................... 8
             Share Price Performance, Q4, 2010-Q4, 2011 ........................................................................................................................... 8
          Gastar Exploration Ltd., Key Valuation Metrics............................................................................................................................... 9
             Key Valuation Metrics, Q4, 2010-Q4, 2011 ................................................................................................................................. 9
          Gastar Exploration Ltd., Quarterly Results of Oil & Gas Operations Per boe Produced ............................................................... 10
             Results of Oil & Gas Operations Per boe Produced, Q4, 2010-Q4, 2011 ................................................................................. 10
             Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2010-Q4, 2011........................................................................... 11
          Gastar Exploration Ltd., Quarterly E&P Costs Trends .................................................................................................................. 12
             Upstream Capital Expenditure, Q4, 2010-Q4, 2011 .................................................................................................................. 12
       Gastar Exploration Ltd., Quarterly Production Trends ...................................................................................................................... 13
          Gastar Exploration Ltd., Total Oil and Gas Production ................................................................................................................. 13
             Total Crude Oil and Natural Gas Production Trend, Q4, 2010-Q4, 2011 .................................................................................. 13
             Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................ 14
          Gastar Exploration Ltd., Crude Oil Production .............................................................................................................................. 15
             Total Crude Oil Production Trend, Q4, 2010-Q4, 2011 ............................................................................................................. 15
             Crude Oil Production, By Country/Region, Q4, 2010-Q4, 2011 ................................................................................................ 16
          Gastar Exploration Ltd., Natural Gas Production .......................................................................................................................... 17
             Total Natural Gas Production Trend, Q4, 2010-Q4, 2011 ......................................................................................................... 17
             Natural Gas Production, By Country/Region, Q4, 2010-Q4, 2011 ............................................................................................ 18
       Gastar Exploration Ltd., Valuation and Financial Data, 2007-2011 .................................................................................................. 19
          Gastar Exploration Ltd., Share Price Performance, 2007-2011 .................................................................................................... 19
             Share Price Performance, 2007-2011 ....................................................................................................................................... 19
             Key Valuation Metrics, 2007-2011 ............................................................................................................................................ 20
       Gastar Exploration Ltd., Production and Reserves Trends............................................................................................................... 21
          Total Oil and Gas, Reserves and Production ................................................................................................................................ 21
             Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011......................................................................... 21
             Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011........................................................ 23
             Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 .............................................................................................. 25
          Crude Oil/Liquids Production and Reserve ................................................................................................................................... 26
             Crude Oil/Liquids Production and Reserve Trend, 2007-2011 .................................................................................................. 26
             Crude Oil Production and Reserves By Country/Region, 2007-2011 ........................................................................................ 27
             Crude Oil/Liquids Reserve Changes, 2007-2011 ...................................................................................................................... 29
          Natural Gas Production and Reserve ........................................................................................................................................... 30
             Natural Gas Production and Reserve Trend, 2007-2011 .......................................................................................................... 30
             Natural Gas Production and Reserves, By Country/Region, 2007-2011 ................................................................................... 31
             Natural Gas Reserve Changes, 2007-2011 .............................................................................................................................. 33
          Total Crude Oil and Natural Gas Reserves Life Index .................................................................................................................. 34
             Total Crude Oil and Natural Gas Reserves Life Index, 2007-2011 ........................................................................................... 34
             Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2007-2011 ........................................................... 35
       Gastar Exploration Ltd., E&P Costs Trends ..................................................................................................................................... 37
          Allocation of the Upstream Capital Expenditure............................................................................................................................ 37
             Upstream Capital Expenditure, 2007-2011 ............................................................................................................................... 37

Gastar Exploration Ltd. Operations & Cost Analysis                                                                                                                    Reference Code: GDGE43777OAR
For Data Definitions Refer to the Appendix
Source: www.energyetrack.com                                                                                                                                                                                    Page 2
© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form
             Acquisition Costs By Country/Region, 2007-2011..................................................................................................................... 38
             Exploration and Development Costs, By Country/Region, 2007-2011 ...................................................................................... 40
          Oil and Gas Cost Per boe, $/boe .................................................................................................................................................. 42
             Oil and Gas Cost Per boe, $/boe, 2007-2011 ........................................................................................................................... 42
             Oil and Gas Cost Per boe, $/boe, By Country/Region, 2007-2011 ........................................................................................... 44
       Gastar Exploration Ltd., Reserve Replacement Ratio ...................................................................................................................... 47
          Oil and Gas Production Replacement Ratio ................................................................................................................................. 47
             Oil and Gas Production Replacement Ratio, 2007-2011 ........................................................................................................... 47
             Oil and Gas Production Replacement Ratio, By Country/Region, 2007-2011 ........................................................................... 49
       Gastar Exploration Ltd., Results of Oil & Gas Operations Trend ...................................................................................................... 53
          Oil and Gas Revenue and Expenses ............................................................................................................................................ 53
             Oil and Gas Revenue and Expenses, 2007-2011 ..................................................................................................................... 53
             Oil and Gas Revenue and Expenses, By Country/Region, 2007-2011 ..................................................................................... 54
          Oil and Gas Revenue and Expenses, Per boe ............................................................................................................................. 59
             Oil and Gas Revenue and Expenses, By boe, 2007-2011 ........................................................................................................ 59
             Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2007-2011 ........................................................................ 60
          Oil and Gas Performance Metrics ................................................................................................................................................. 64
       Gastar Exploration Ltd., Land Holdings and Well Data .................................................................................................................... 65
          Developed and Undeveloped Acreage ......................................................................................................................................... 65
             Gross and Net Developed and Undeveloped Acreage, 2007-2011........................................................................................... 65
             Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2007-2011........................................................... 66
          Well Statistics ..............................................................................................................
								
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