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LONDON, UK / ACCESSWIRE / April 23, 2018 / Active-Investors.com has just released a free earnings report on Gastar Exploration Inc. (NYSE: GST). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GST. The Company posted its financial results on March 15, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's quarterly average daily production rose 17% y-o-y. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Gastar Exploration most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
During Q4 FY17, Gastar Exploration's total revenues were $15.48 million, which came in lower than the $18.29 million recorded at the end of Q4 FY16. The Company's total revenues for the reported quarter also missed market consensus estimates of $22.65 million. Meanwhile, the Company's total oil and condensate, natural gas, and natural gas liquids (NGLs) revenues rose to $23.72 million in Q4 FY17 from $17.16 million in last year's same quarter.
The oil and gas Company reported a net loss available to common stockholders of $16.60 million, or $0.08 loss per diluted share, in Q4 FY17 compared to a net loss available to common stockholders of $8.16 million, or $0.06 loss per diluted share, in Q4 FY16. The Company's adjusted net loss available to common stockholders was $6.62 million, or $0.03 loss per diluted share, in the reported quarter versus $7.52 million, or $0.06 loss per diluted share, in Q4 FY16. Moreover, market analyst had also forecasted the Company to report an adjusted net loss of $0.03 per share for Q4 FY17.
For the full year FY17, Gastar Exploration's total revenues stood at $72.13 million, up from $58.25 million in FY16. The Company's net loss available to common stockholders was $61.23 million, or $0.31 loss per diluted share, in FY17 versus a net loss available to common stockholders of $103.53 million, or $0.93 loss per diluted share, in FY16. Furthermore, the Company's adjusted net loss available to common stockholders came in at $37.18 million, or $0.19 loss per diluted share, in FY17 versus $48.41 million, or $0.43 loss per diluted share, in FY16.
The Houston, Texas-based Company's lease operating expenses increased to $5.80 million during Q4 FY17 from $4.78 million in the past year's comparable quarter. The Company's total expenses were $19.26 million in the reported quarter compared to $14.36 million in Q4 FY16. The Company posted a loss from operations of $3.78 million during Q4 FY17 versus an income from operations of $3.93 million in Q4 FY16.
For Q4 FY17, Gastar Exploration's oil and condensate production volume increased to 312 thousand barrel (MBbl) from 269 MBbl in Q4 FY16. The oil realized sales price was $53.77 per bbl during the reported quarter, up from $46.73 per bbl in the previous year's corresponding quarter.
The Company's natural gas production volume also rose to 1,048 million cubic feet (MMcf) in Q4 FY17 from 901 MMcf in Q4 FY16. The Company's average gas sales price was $2.51 per Mcf in Q4 FY17 compared to $2.70 per Mcf in the last year's same quarter.
The Company's quarterly production volume of NGLs totaled 148 MBbl in Q4 FY17, which was higher than 123 MBbl in the prior year's comparable quarter. The Company's average NGLs sales price was $29.20 per Bbl in Q4 FY17 compared to $17.51 per Bbl in Q4 FY16.
Gastar Exploration's total production was 634 thousand barrels of oil equivalents (MBoe) compared to 542 MBoe in Q4 FY16. The Company's average daily production also rose to 6.9 MBoe per day in Q4 FY17 from 5.9 MBoe per day in the prior year's corresponding quarter. Meanwhile, the Company's average realized sales price on total production was $37.39 per Boe during Q4 FY17 compared to $31.63 per Boe in Q4 FY16.
Cash Matters and Balance Sheet
For the full fiscal year ended December 31, 2017, Gastar Exploration generated net cash provided by operating activities of $20.06 million compared to $6,737 million in the prior year. The Company's cash and cash equivalents balance fell to $13.27 million as on December 31, 2017, from $71.53 million at the close of books as on December 31, 2016. Furthermore, the Company's net long-term debt declined to $342.95 million as on December 31, 2017, from $404.49 million as on December 31, 2016.
Stock Performance Snapshot
April 20, 2018 - At Friday's closing bell, Gastar Exploration's stock fell 1.35%, ending the trading session at $0.74.
Volume traded for the day: 725.47 thousand shares.
Stock performance in the previous six-month period – up 4.62%
After last Friday's close, Gastar Exploration's market cap was at $165.28 million.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.
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