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Ohio Utica Shale

Gulfport Energy acquires more Ohio acreage for drilling

By Bob Downing Published: February 11, 2013

Oklahoma-based Gulfport Energy announced today that it was acquiring an additional 22,000 net acres in eastern Ohio.

The land is being purchased from Windsor Ohio LLC, an affiliate of Wexford Capital LP, for about $220 million.

The purchase increases Gulfport's lease holdings in the Utica shale to about 137,000 acres.

The acquisition excludes Windsor Ohio's interest in 14 existing wells and 16 proposed future wells.

The deal is expected to close by Feb. 28. It brings Gulfport's working interest in the acreage to 93.8 percent.

Gulfport said it is estimating that its Ohio holdings in 2013 will produce up to 22,192 barrels of oil equivalents per day.

Last December, Gulfport acquired about 37,000 acres in the Utica shale from Windsor Ohio.



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