Russ Porter, President and CEO of Gastar Exploration spoke this week at the Houston Energy Finance breakfast about the strides that the company has made in shale exploration.
In the Marcellus Shale, Gastar holds nearly 75,000 net acres. Gastar is also currently active in East Texas and in the Powder River Basin.
Gastar’s Marcellus leases are located in areas where the shale is over-pressured and where operational issues such as water sources, water disposal and gas transportation are expected to be easier to manage than in other parts of the play.
One thing that attendees might have been surprised to learn is that while Gastar’s focus is on developing and producing natural gas, they also yield significant quantities of condensate and high-value natural gas liquids (NGLs).
Gastar’s strong contiguous acreage in both Marcellus and in East Texas plays enables the drilling of long laterals – an average of approximately 5,000 feet in length – and the ability to conduct large multi-stage fractures that improve well performance and economics.
Throughout this process, microseismic technology has been key, and Porter’s presentation this week named numerous instances in which wells performed better thanks to MicroSeismic, in addition to ensuring that at no time was groundwater contamination an issue. (You can read more on microseismic monitoring in the Marcellus in MicroSeismic’s case study.)
Partnerships such as the one between MicroSeismic and Gastar are key to safe, efficient and productive exploration and drilling and we applaud Porter and Gastar and wish them continued success.