Gastar Exploration Divests Non-Core Reserves and Acreage in Oklahoma
Vinson & Elkins advised Gastar Exploration Inc. in connection with its definitive purchase and sale agreement to divest its interest in the West Edmund Hunton Lime Unit for $107.5 million.
The transaction, subject to customary closing conditions and adjustments, is expected to close on or before February 28, 2018, with a property sale effective date of October 1, 2017.
Gastar is engaged in the exploration, development and production of oil, condensate, natural gas and natural gas liquids in the United States.
The V&E corporate team was led by partner Mingda Zhao with assistance from senior associate Emery Choi and associate Ben Glass. Also advising were partners Jim Prince, Larry Nettles, Todd Way and Guy Gribov; counsel Grace Ho; senior associates Julia Pashin and Olivia Wang; and associate Andrew Schulte.
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