Gastar Exploration Ltd. [NYSE MKT: GST] has named John M. Selser as chairman of its board of directors. He replaces Floyd Price who has resigned from Gastar’s board due to the increased demands related to his board positions with several other public and private E&P companies.
Selser was elected to the Gastar board in March 2007. Most recently, he was a managing director of IBERIA Capital Partners LLC, a subsidiary of IBERIA Bank Corporation, a position he had held since 2009. From 2003 to 2009, he was a partner at Maple Leaf Partners, an equity hedge fund. From 1992 to 2003, he was an equity analyst at Howard Weil Incorporated, Lehman Brothers Holdings Inc., and Johnson Rice and Company LLC. From 1984 to 1991, Selser was a petroleum engineer for Mobil Oil and Chevron in various domestic drilling, production, and reservoir engineering assignments. He also serves on the board of Our Lady of the Lake Hospital in Baton Rouge, La.
Selser holds a BS degree in both civil engineering and petroleum engineering from Louisiana State University and a MBA from Tulane University.
J. Russell Porter, Gastar’s president and CEO, said, “John Selser is extremely well qualified to serve as our chairman given the breadth of his operational and financial experience. I have known and worked with John since 1992 and feel confident that he has the experience and knowledge to help guide Gastar as we continue to rapidly grow reserves, production and cash flow. The board of directors of Gastar thanks Mr. Price for his valuable service and wishes him well in the future.”
Houston-based Gastar has an emphasis on unconventional reserves, such as shale resource plays. The company is currently pursuing the development of liquids-rich natural gas in the Marcellus Shale in the Appalachia area of West Virginia and, to a lesser extent, central and southwestern Pennsylvania. Gastar also holds prospective acreage in the deep Bossier play in the Hilltop area of East Texas and in the Mid-Continent area of the United States.