Chisholm, Gastar merge to create large STACK shale E&P

By Luke Geiver | June 19, 2019

Operators focused on the STACK play of Oklahoma are merging to create one of the leading exploration and production companies. Chisholm Oil and Gas LLC of Oklahoma and Gastar Exploration of Houston will merge under the Chisholm name. Terms of the deal were not disclosed.

The new version of Chisholm will have 20,000 barrels of oil equivalent per day of production across roughly 165,000 net acres mainly in Kingfisher County, Oklahoma.

In November last year, Gastar extending a marketing effort to receive bids for a buy-out after company started the Chapter 11 bankruptcy process.

Chisholm, which is operating three rigs and a single frac crew in the STACK currently, believes Gastar’s assets will go well with its own. Chisholm also has interests in a midstream venture and a saltwater disposal well in the region it is operating from.

Chisholm was founded in 2017 with funding from Apollo Global Management. Gastar is a privately-owned firm affiliated with Ares Management Corp.