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Ohio Utica Shale

Gulfport achieves record daily production in 2013

By Bob Downing Published: January 7, 2014

From Gulfport Energy:

OKLAHOMA CITY, Jan. 6, 2014 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today announced that it achieved record daily production of approximately 27,780 barrels of oil equivalent per day ("BOEPD") on December 31, 2013.

James Palm, Gulfport's Chief Executive Officer, commented, "We entered 2013 producing approximately 6,300 BOEPD and exited the year producing 27,780 BOEPD, which was over 340% in growth during this period. This is a significant milestone for Gulfport employees and shareholders. We are diligently working to execute on our 2014 program and look forward to substantial growth as a company during 2014 as we continue to develop our Utica Shale assets."

Production Guidance

Gulfport currently estimates that fourth quarter 2013 production was approximately 1.5 million barrels of oil equivalent. Production during the first quarter of 2014 is currently expected to be relatively flat compared to the Company's 2013 exit rate due to scheduled downtime on existing producing wells resulting from completion operations conducted on offset wells on the same pad.

About Gulfport

Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast. In addition, Gulfport holds a sizeable acreage position in the Alberta Oil Sands in Canada through its 24.9% interest in Grizzly Oil Sands ULC, an equity interest in Diamondback Energy Inc., a NASDAQ Global Select Market listed company, and has an interest in an entity that operates in Southeast Asia, including the Phu Horm gas field in Thailand.



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