HOUSTON, Aug. 13, 2018 /PRNewswire/ -- Gastar
Exploration Inc. (NYSE American: GST) ("Gastar") today announced
that certain investment vehicles affiliated with Ares Management,
L.P. with rights to two directors to the board of directors
of Gastar (the "Board") have elected Marc
Beilinson and William L. ("Bill") Transier to the Board,
effective today.
Marc Beilinson
Mr. Beilinson is the managing director of Beilinson Advisory
Group, a financial restructuring and hospitality advisory group
that specializes in assisting distressed companies. He has
served as an independent director for Athene Holding Ltd., a
leading retirement services company, since 2013. He currently
serves as the lead independent director and the chair of the
compensation committee for Athene. Mr. Beilinson is also a
member of Athene's conflicts committee and nominating and corporate
governance committee. Mr. Beilinson has served on the board
of directors of MFG Assurance Company Limited ("MFG") since 2012
and currently serves on the audit committee of MFG.
Mr. Beilinson previously served as chief restructuring officer
of Newbury Common Associates LLC and certain of its affiliates from
December 2016 to June 2017 and for Fisker Automotive from
November 2013 to August 2014.
Mr. Beilinson served as chief restructuring officer and chief
executive officer of Eagle Hospitality Properties Trust, Inc. from
August 2011 to December 2014 and Innkeepers USA Trust from November 2008 to March 2012. Mr. Beilinson
oversaw the chapter 11 reorganization of Innkeepers USA, Fisker and Newbury while serving in his interim management
roles as the chief restructuring officer of those companies.
He was a law partner at Pachulski, Stang, Ziehl & Jones from
1992 to 2007.
Mr. Beilinson previously served on the boards of directors and
audit committees of a number of public and privately held
companies, including Westinghouse Electric (March 2017 to August
2018), Caesars Acquisition Company (February 2013 to September
2017), Haggen Stores (October
2016 to June 2017), Apollo
Commercial Real Estate Finance, Inc. (2009 to 2011) and Wyndham
International, Inc. (1994 to 1997).
Mr. Beilinson earned a B.A. in political science from the
University of California, Los Angeles
and a Juris Doctor from the University of
California Davis Law School.
William L. ("Bill")
Transier
Mr. Transier is the chief executive officer of Transier
Advisors, LLC, an independent advisory firm providing services to
energy companies facing stressed operational situations,
turnaround, restructuring or in need of interim executive
leadership. He currently serves as an independent director
and chairman of the board for Helix Energy Solutions Group.
Mr. Transier has been a member of the Helix board of directors
since October 2000 and served as the
lead independent director from March
2016 to July 2017 when he was
appointed as chairman of the board. Mr. Transier served as a
member of the board of directors of CHC Group Ltd. from
May 2016 to July 2017. He was
also a member of the board of directors of Paragon Offshore Plc.
from August 2014 to July 2017.
From December 2006 to December 2012, Mr. Transier served as a member of
the board of directors of Cal Dive International, Inc., a publicly
traded company that was formerly a subsidiary of Helix where he
served as lead director from May 2009
to December 2012.
Mr. Transier was co-founder of Endeavour International
Corporation, an international oil and gas exploration and
production company. He served as non-executive chairman of
Endeavour's board of directors from December
2014 until November 2015. Mr. Transier also served as
chairman, chief executive officer and president of Endeavor from
September 2006 to December 2014 and as co-chief executive officer
from formation in February 2004
through September 2006.
Mr. Transier served as executive vice president and chief
financial officer of Ocean Energy, Inc. from March 1999 to April
2003 and prior to that, he served in various positions of
increasing responsibility with Seagull Energy Corporation. Before
his tenure with Seagull, Mr. Transier served in various roles
including partner in the audit department and head of the Global
Energy practice of KPMG LLP from June
1986 to April 1996.
Mr. Transier earned his B.B.A. in accounting from the
University of Texas and also holds an
MBA from Regis University.
Jerry Schuyler, Gastar's Chairman
of the board of directors and interim CEO, said, "On behalf of
Gastar's Board, we are very pleased to welcome Marc and Bill to the
Board and look forward to benefitting from their substantial
knowledge surrounding company restructurings. Their
experience and expertise will be invaluable as we work closely
with the Company's financial and legal advisors to consider
potential strategic transactions, including financing alternatives
and sale or merger transactions, in an effort to maximize value for
our stakeholders."
About Gastar Exploration
Gastar Exploration Inc. is a pure-play Mid-Continent independent
energy company engaged in the exploration, development and
production of oil, condensate, natural gas and natural gas liquids
in the United States. Gastar's
principal business activities include the identification,
acquisition and subsequent exploration and development of oil and
natural gas properties with an emphasis on unconventional reserves,
such as shale resource plays. Gastar holds a concentrated acreage
position in the normally pressured oil window of the STACK Play, an
area of central Oklahoma which is
home to multiple oil and natural gas-rich reservoirs including the
Meramec, Oswego, Osage, Woodford and Hunton formations. For more
information, visit Gastar's website at www.gastar.com.
Forward Looking Statements
This news release includes "forward looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward looking statements express our current
expectations, opinion, belief or forecasts of future events and
performance. A statement identified by the use of forward
looking words including "may," "expects," "projects,"
"anticipates," "plans," "believes," "estimate," "will," "should,"
and certain of the other foregoing statements may be deemed
forward-looking statements. Although Gastar believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that
may cause actual future activities and results to be materially
different from those suggested or described in this news
release. These include risks described in Gastar's Annual
Report on Form 10-K and other filings with the U.S. Securities and
Exchange Commission ("SEC"), available at the SEC's website at
www.sec.gov. By issuing forward looking statements based on
current expectations, opinions, views or beliefs, Gastar has no
obligation and, except as required by law, is not undertaking any
obligation, to update or revise these statements or provide any
other information relating to such statements.
Contacts:
Gastar Exploration Inc.
Michael A. Gerlich, Chief Financial
Officer
713-739-1800 / mgerlich@gastar.com
Investor Relations Counsel:
Lisa Elliott /
lelliott@DennardLascar.com
Dennard-Lascar Investor Relations: 713-529-6600
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SOURCE Gastar Exploration Inc.