Gastar Exploration announces 51% increase in proved reserves

Gastar Exploration reported year-end 2012 proved natural gas, oil and condensate and natural gas liquids reserves of 180.9B as estimated in accordance with SEC regulations. This represents an increase of 51% over year-end 2011 proved reserves of 119.7 Bcfe. Of the total 2012 year-end proved reserves, 72% were natural gas, 11% were condensate and oil and 17% were NGLs, as compared to 77%, 9% and 14%, respectively, for year-end 2011. The pre-tax present value of these reserves, discounted at 10%, was $206.8M, versus $217.1M at year-end 2011, which reflects a year-over-year decline in natural gas, oil, condensate and NGLs prices.

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