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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, January 19, 2019, Vol. 23, No. 18
Headlines
GASTAR EXPLORATION: Reports $7.81 Million Net Loss in November
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GASTAR EXPLORATION: Reports $7.81 Million Net Loss in November
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Gastar Exploration, Inc., et al., filed with the U.S. Securities
and Exchange Commission their monthly operating report for November
2018.
The Debtors' statement of operations showed a net loss of $7.81
million on $7.64 million of revenue for the month.
As of November 30, 2018, the Debtors listed $323.14 million in
total assets, $447.59 million in total liabilities, and -$124.45
million in total shareholders' equity.
At November 1, 2018, the Debtors had $6.36 million beginning cash
balance. They listed total cash receipts of $29.68 million and
total cash disbursements of $20.49 million. Thus, the Debtors had
$15.55 million ending cash balance at November 30, 2018.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/vQhIL7
About Gastar Exploration
Houston, Texas-based Gastar Exploration Inc. (otcqb:GSTC) --
http://www.gastar.com/-- is a pure play Mid-Continent independent
energy company engaged in the exploration, development and
production of oil, condensate, natural gas and natural gas liquids.
Gastar's principal business activities include the identification,
acquisition and subsequent exploration and development of oil and
natural gas properties with an emphasis on unconventional reserves,
such as shale resource plays. Gastar holds a concentrated acreage
position in what is believed to be the core of the STACK Play, an
area of central Oklahoma which is home to multiple oil and natural
gas-rich reservoirs including the Meramec, Oswego, Osage, Woodford
and Hunton formations.
As of Sept. 30, 2018, Gastar Exploration disclosed $341,500,000 in
total assets and $453,800,000 in liabilities.
Gastar Exploration, Inc., and Northwest Property Ventures LLC
sought Chapter 11 protection (Bankr. S.D. Tex. Lead Case No.
18-36057 and 18-36059) on Oct. 31, 2018.
The Debtors tapped Kirkland & Ellis LLP as general bankruptcy
counsel; Jackson Walker L.L.P. as local bankruptcy counsel; Tudor
Pickering Holt & Co. Advisors LP and Perella Weinberg Partners LP
as financial advisors; Opportune LLP as restructuring advisor; and
BMC Group Inc. as claims agent.
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman, Editors.
Copyright 2019. All rights reserved. ISSN: 1520-9474.
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