CUSIP NO. 367299104
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13G/A
Under the
Securities Exchange Act of 1934
Gastar Exploration
Ltd.
(Name of
Issuer)
Common Stock, without par
value
(Title of
Class of Securities)
367299104
(CUSIP
Number)
December 31,
2009
(Date of
Event Which Requires Filing of this Statement)
Check the
appropriate box to designate the rule pursuant to which this Schedule is
filed:
[ ] Rule
13d-1(b)
[ ] Rule
13d-1(c)
[x] Rule 13d-1(d)
*The
remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The
information required in the remainder of this cover page shall not be deemed to
be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the
Notes).
|
(1)
|
Name
of Reporting Person
I.R.S.
Identification No. of Above Person
|
Chesapeake
Energy Corporation
73-1395733
|
|
(2)
|
Check
the Appropriate Box if a Member of a Group (See
Instructions)
|
(a)
[ ]
(b)
[x]
|
|
(3)
|
SEC
Use Only
|
|
|
(4)
|
Citizenship
or Place of Organization
|
Oklahoma
|
|
Number
of Shares |
(5) Sole
Voting Power
|
6,781,767
|
|
Beneficially
Owned
|
(6) Shared
Voting Power
|
-
|
|
By
Each Reporting |
(7) Sole
Dispositive Power
|
6,781,767
|
|
Person
With:
|
(8) Shared
Dispositive Power
|
-
|
|
(9)
|
Aggregate
Amount Beneficially Owned by Each Reporting Person
|
6,781,767
|
|
(10)
|
Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
|
[ ]
|
|
(11)
|
Percent
of Class Represented by Amount in Row (9)
|
13.56%*
|
|
(12)
|
Type
of Reporting Person (See
Instructions)
|
CO
|
* Based upon 50,030,819
shares of Common Stock issued and outstanding reported in Gastar's Form 10-Q
filed November 5, 2009.
Item
1.
This
Schedule 13G relates to the common stock, without par value (the “Common
Stock”), of Gastar Exploration Ltd., an Alberta, Canada corporation
(“Gastar”).
(b)
|
Address
of Issuer's Principal Executive
Offices
|
Gastar’s
principal executive offices are located at 1331 Lamar Street, Suite 1080,
Houston, Texas 77010.
Item
2.
(a)
Name of Person Filing
This
statement is filed by Chesapeake Energy Corporation, an Oklahoma corporation
(“Chesapeake”).
(b)
Address of Principal Business Office or, if None, Residence
Chesapeake’s
principal executive offices are located at 6100 North Western Avenue, Oklahoma
City, Oklahoma 73118.
Chesapeake
is a corporation organized under the laws of the state of Oklahoma.
(d)
Title of Class of Securities
Chesapeake
beneficially owns shares of Gastar’s Common Stock, without par
value.
(e)
CUSIP Number
The CUSIP
for Gastar’s Common Stock is 367299104.
Item
3. If
this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check
whether the person filing is a:
Not
applicable.
Item
4. Ownership
(a) Amount
beneficially owned:
Chesapeake
beneficially owns 6,781,767 shares of Gastar Common Stock.
Chesapeake owns 13.56% of Gastar’s outstanding Common Stock.
(c)
Number
of shares as to which Chesapeake has:
|
(i)
|
Sole
power to vote or direct the
vote: 6,781,767
|
|
(ii)
|
Shared
power to vote or direct the
vote: 0
|
|
(iii)
|
Sole
power to dispose or to direct the disposition
of: 6,781,767
|
|
(iv)
|
Shared
power to dispose or to direct the disposition
of: 0
|
Item
5. Ownership of Five Percent or Less of a Class
If this
statement is being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than five percent
of the class of securities, check the following [ ].
Item
6. Ownership of More than Five Percent on Behalf of Another
Person
Not
applicable.
Item
7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company
Not
applicable.
Item
8. Identification and Classification of Members of the
Group
Not
applicable.
Item
9. Notice of Dissolution of Group
Not
applicable.
Item
10. Certification
Not
applicable.
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and
correct.
DATED: February
10, 2010
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CHESAPEAKE
ENERGY CORPORATION
|
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By:
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/s/
JENNIFER M. GRIGSBY
|
|
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Jennifer
M. Grigsby
Senior
Vice President, Treasurer & Corporate Secretary
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