As per the joint venture agreement, Gastar will pay 45% of the lease acquisition cost for a 50% interest.
The initial drilling and completion activities on this acreage will be eligible for the drilling carry that is a part of the previously announced joint venture between Gastar and Atinum.
The acreage is located at PPG Industries’ Natrium, West Virginia chemicals site along the Ohio River.
As operator, Gastar expects to begin drilling during the second half of 2011 and has identified as many as 30 locations to be drilled over the next several years.
