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Gastar Exploration Ltd (1170154) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2013

Gastar Exploration, Inc.

CIK: 1170154
 

  
For Immediate Release
 
   NEWS RELEASE
 
Contacts:
Gastar Exploration Ltd.
Michael A. Gerlich, Chief Financial Officer
713-739-1800 / mgerlich@gastar.com
 
Investor Relations Counsel:
Lisa Elliott / Anne Pearson
DennardLascar Associates, LLC: 713-529-6600
lelliott@DennardLascar.com / apearson@DennardLascar.com 


GASTAR EXPLORATION LTD. REPORTS
FIRST QUARTER 2013 RESULTS
Production increased 36% from first quarter 2012 to 40.5 MMcfe per day
Revenues from production increased 96% to $20.9 million

HOUSTON, May 2, 2013 - Gastar Exploration Ltd. (NYSE MKT: GST) today reported financial and operating results for the three months ended March 31, 2013.
Net loss attributable to Gastar's common shareholders for the first quarter of 2013 was $4.6 million, or $0.07 per share. Excluding the impact of an unrealized hedging loss of $9.6 million and a litigation settlement expense of $1.0 million, adjusted net income attributable to common shareholders was $6.1 million, or $0.09 per diluted share. This compares to a net loss of $6.3 million, or $0.10 per share and an adjusted net loss of $3.5 million, or $0.06 per share, for the first quarter of 2012. (See the accompanying reconciliation of net income (loss) to net income (loss) excluding special items at the end of this news release.)
Net cash provided by operating activities before working capital changes, reduced for dividend expense and adjusted for other special items (adjusted cash flows from operations) for the first quarter of 2013 increased to $13.1 million, or $0.21 per share, compared to $2.9 million, or $0.05 per share, for the first quarter of 2012. (See the accompanying reconciliation of cash flows before working capital changes and as adjusted for special items to net income at the end of this news release.)
Natural gas, condensate and oil and natural gas liquids (NGLs) revenues increased 96% to $20.9 million in the first quarter of 2013, up from $10.7 million for the same period a year earlier. Revenues from liquids (condensate, oil and NGLs) represented approximately 46% of our total natural gas, condensate, oil and NGL's revenues for the first quarter of 2013 compared to 40% for the fourth quarter of 2012 and

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The following information was filed by Gastar Exploration, Inc. on Thursday, May 2, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1170154
Form Type: 10-Q Quarterly Report
Accession Number: 0001170154-13-000062-2
Submitted to the SEC: Mon Aug 05 2013 5:21:30 PM EST
Accepted by the SEC: Mon Aug 05 2013
Period: Sunday, June 30, 2013
Industry: Crude Petroleum And Natural Gas

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