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Gastar Exploration (GSTCQ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
An initial hearing Thursday at the U.S. Bankruptcy Court in Houston quickly focused on the treatment of minority shareholders as the case’s primary sticking point. “This case is going to turn out to be all about equity security holders,” Judge Marvin Isgur, the federal judge overseeing the bankruptcy, said Thursday. If approved by Judge Isgur, the chapter 11 plan would eliminate more than $300 million of funded-debt obligations and preferred equity interests.
Inc., a Houston-based oil-and-gas exploration company, has filed for chapter 11 bankruptcy protection, several days after disclosing a prepackaged bankruptcy plan. LLC. If approved by a judge, the plan would eliminate more than $300 million of funded-debt obligations and preferred equity interests. Ares would own 100% of the reorganized company’s common equity, court papers show.
Gastar said it has signed a restructuring support agreement Friday with Ares and intends to file a prepackaged bankruptcy plan that will erase $300 million in liabilities. “The company needs new capital to continue to operate, and the RSA and related new capital commitment will ensure that the Company can continue to operate its business in the ordinary course,” Gastar said Friday. Ares is providing a $100 million new-money bankruptcy loan from Ares and other parties will provide a $383 million superpriority debtor-in-possession loan, according to Gastar’s filings.
The pure play Mid-continent energy company has entered into a restricting support agreement with its largest creditor and shareholder.
HOUSTON, Sept. 7, 2018 /PRNewswire/ -- Gastar Exploration Inc. (GSTC) ("Gastar" and the "Company") today announced that the Company's common stock will commence trading on the OTCQB over-the-counter market under the trading symbol "GSTC". Opening of over-the-counter trading in the Company's two preferred stock issues has been delayed pending resolution of certain technical listing issues. The Company anticipates the two preferred stock issues will be listed on the over-the-counter market once the listing issues are resolved.
HOUSTON , Sept. 7, 2018 /PRNewswire/ -- Gastar Exploration Inc. (OTCQB: GSTC) ("Gastar" and the "Company") today announced that its two preferred stock issues have commenced trading ...
HOUSTON, Sept. 6, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar") today announced that it received notification from the NYSE American LLC ("NYSE") that the NYSE has suspended trading of the Company's common stock on the exchange due to its abnormally low trading price.
WILMINGTON, Del., Sept. 4, 2018 /PRNewswire/ -- Aedes LLC, a Delaware limited liability company, announced today that it has retained the law firm of Hunton Andrews Kurth LLP to advise and represent it in relation to its investment in the Series A and Series B Preferred Stock of Gastar Exploration Incorporated (NYSE American: GST) ("Gastar"). As such restructuring proposals have a high probability of impacting the holders of both Gastar's Series A and Series B Preferred Stock, Aedes felt compelled to retain counsel with deep experience advising companies and investors in restructuring transactions. Retention of Hunton Andrews Kurth is done with the intention to ensure that Gastar conducts a fair and transparent restructuring process that takes into account the legitimate interests of holders of Gastar's Series A and Series B Preferred Stock.
HOUSTON, Aug. 29, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar" or the "Company") announced today that, on August 28, 2018, it received a deficiency letter from the NYSE American stock exchange informing the Company of its non-compliance with continued listing standards because the Company's common stock has been selling for a low price per share for a substantial period of time. The NYSE American staff determined that the Company's continued listing on the exchange is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which the staff determined to be no later than February 28, 2019.
HOUSTON , Aug. 13, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar") today announced that certain investment vehicles affiliated with Ares Management, L.P. with rights ...
NEW YORK, NY / ACCESSWIRE / August 10, 2018 / Gastar Exploration, Inc. (NYSE MKT: GST ) will be discussing their earnings results in their Q2 Earnings Call to be held on August 10, 2018 at 9:00 AM Eastern ...
HOUSTON , Aug. 9, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar" or the "Company") today reported financial and operating results for the three and six ...
HOUSTON , Aug. 1, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) (" Gastar " or the " Company ") announced today that it is considering potential strategic transactions, ...
Ahead of today's trading session, WallStEquities.com scans Gastar Exploration Inc. (NYSE AMER: GST), Gran Tierra Energy Inc. (NYSE AMER: GTE), Crescent Point Energy Corp. (NYSE: CPG), and Comstock Resources Inc. (NYSE: CRK). Houston, Texas-based Gastar Exploration Inc.'s shares recorded a trading volume of 52.15 million shares last Friday, which was above their three months average volume of 2.57 million shares.
HOUSTON , July 26, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar") announced today that it will release its second quarter 2018 results on Thursday, August 9, 2018 ...
For today, WallStEquities.com shifts focus on the Independent Oil and Gas industry, which receives nearly all of its revenues from production at the wellhead. Companies in this space are exclusively in the exploration and production segment of the industry, with no downstream marketing or refining within their operations. Under assessment this morning are the following stocks: EQT Corp. (NYSE: EQT), Extraction Oil & Gas Inc. (NASDAQ: XOG), Gastar Exploration Inc. (NYSE AMER: GST), and Gran Tierra Energy Inc. (NYSE AMER: GTE).
HOUSTON , June 11, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) (the "Company" or "Gastar") announced today that it has declared monthly cash dividends on its 8.625% ...
Research reports have been issued by WallStEquities.com on EQT Corp. (NYSE: EQT), Extraction Oil & Gas Inc. (NASDAQ: XOG), Gastar Exploration Inc. (NYSE AMER: GST), and Gran Tierra Energy Inc. (NYSE AMER: GTE). The downstream sector of the petroleum industry involves the refining and processing operations, along with marketing and distribution.
Did sentiment on a multi-trillion dollar market just change in a few trading days? After such a strong run to begin the year, a pullback in crude futures is not shocking, but also does not reflect current fundamentals. Just as an aside, there is a huge drop-off in liquidity as you go out behind 18 months on the oil futures curve, so if you go to the CME's website, looking at the value of the December 2023 contract -- currently $53.00 -- is not informative.
HOUSTON , May 14, 2018 /PRNewswire/ -- Gastar Exploration Inc. (NYSE American: GST) ("Gastar") today announced that its board of directors (the "Board") has appointed Harry Quarls to ...