UNAUDITED PRO FORMA FINANCIAL INFORMATIONSale Agreement • March 15th, 2018 • Gastar Exploration Inc. • Crude petroleum & natural gas
On January 23, 2018, Gastar Exploration Inc. (the “Company” or “Gastar”) entered into a definitive agreement of sale and purchase (the “Sale Agreement”), by and between the Company and Revolution Resources, LLC to divest its interest in the West Edmund Hunton Lime Unit (“WEHLU”) and adjacent undeveloped acreage for a cash purchase price of approximately $107.5 million, subject to certain adjustments and customary closing conditions, (the “WEHLU Sale”). The WEHLU Sale had an effective date of October 1, 2017 and was completed on February 28, 2018. After certain adjustments, net cash proceeds from the WEHLU Sale were approximately $98.8 million, subject to certain additional adjustments.
