Gastar Exploration Inc. (NYSE MKT: GST) purchased 5,670 net acres in the Stack Play in Kingfisher County, Okla., and added 9.5 net wells in its first significant acquisition since October 2015.On March 22, Gastar said it closed the deal for additional working interest and net revenue interests for $51.4 million. The price is subject to final closing adjustments.Gastar already held an interest in the majority of the acquired producing wells and leasehold. Net production associated with the acquisition is about 330 barrels of oil equivalent per day (boe/d), 49% of which is oil. About 57% of the acreage is currently HBP.
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