Gastar Exploration has completed the acquisition of a Marcellus property in the Marcellus Shale, West Virginia, US.
The $29m assets consist of around 250 million square metres of leasehold in the region.
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Gastar president and CEO Russell Porter said that with the acquisition, Gastar holds about 323.75 million square metres in the Marcellus Shale.
“On the newly acquired acreage, we plan to drill two horizontal wells in 2011 near our previous successful vertical well testing,” Porter said.
