Gulfport Energy reported second quarter earnings and said it has added 4,500 acres to its position in the Utica shale.
Gulfport also had this to say about its Utica shale holdings:
• Gulfport spud 24 gross (16.5 net) wells during the second quarter of 2014. At present, Gulfport has seven horizontal rigs drilling in the play.
• In the wet gas window of the play, Gulfport brought online eight wells during the second quarter. Initial seven-day sales rates from the wells, assuming full ethane recovery, averaged approximately 2,392 BOEPD with 42 percent liquids. The wells in the wet gas window were drilled with an average perforated lateral length of 7,925 feet and completed with 32 frac stages.
• In the condensate window of the play, Gulfport brought online two wells during the second quarter. Initial seven-day sales rates from the wells, assuming full ethane recovery, averaged approximately 955 BOEPD with 68% liquids. The wells in the condensate window were drilled with an average perforated lateral length of 8,298 feet and completed with 33 frac stages.
• To secure the movement of Gulfport’s Utica Shale production out of the basin, the company has most recently executed binding agreements with ET Rover Pipeline, LLC, a subsidiary of Energy Transfer, to transport 100,000 MMBtu/day for a term of 15 years on the ET Rover pipeline project beginning in late 2016. This firm transportation arrangement will provide Gulfport the flexibility to move natural gas to the Dawn, Ontario and Gulf Coast markets.
• Since May 2014, Gulfport has increased its acreage position in the play, adding approximately 4,500 net acres, bringing the Company’s total acreage position to approximately 184,500 gross (183,500 net) acres under lease in the Utica Shale.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
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Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
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