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Ohio Utica Shale

Gulfport Energy offers 3Q production data, operational update

By Bob Downing Published: October 16, 2013

From Gulfport Energy today:

OKLAHOMA CITY, Oct. 16, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today provides third quarter 2013 production and provides an operational update.


  • Gulfport produced oil and natural gas sales volumes of 1,193,808 barrels of oil equivalent ("BOE"), or 12,976 barrels of oil equivalent per day ("BOEPD"), compared to the company's previously estimated guidance range of 12,250 to 12,750 BOEPD.

For the third quarter of 2013, net production was 590,187 barrels of oil, 2,981,632 thousand cubic feet ("MCF") of natural gas and 4,480,667 gallons of natural gas liquids ("NGL"), or 1,193,808 BOE. Net production for the third quarter of 2013 by region was 662,333 BOE in the Utica Shale, 351,171 BOE at West Cote Blanche Bay, 167,520 BOE at Hackberry and an aggregate of 12,784 BOE in the Bakken, Niobrara and other areas.


The table below sets forth the company's hedging positions as of October 16, 2013.


Oil (MBbls):      
Swap Contracts      
Volume 460    
Price $ 99.86    
Natural Gas (MMcf):      
Swap Contracts      
Volume 920    
Price $ 4.00    
  Year Ending
  2014 2015 2016
Oil (MBbls):      
Swap Contracts      
Volume 910 -- --
Price $ 102.79 -- --
Natural Gas (MMcf):      
Swap Contracts      
Volume 18,250 16,425 5,145
Price $ 4.06 $ 4.06 $ 4.06
Swaption Contracts      
Volume -- 3,650 1,210
Price -- $ 4.27 $ 4.27

Utica Shale

  • Gulfport increased its acreage position in the core of the play and currently has approximately 154,000 gross (144,500 net) acres under lease.

Gulfport increased its acreage position in the core of the play adding approximately 9,000 gross acres, bringing the company's total acreage position to approximately 154,000 gross (144,500 net) acres under lease in the Utica Shale.


Gulfport currently anticipates exiting 2013 with production in the range of 27,000 to 32,000 BOEPD. Gulfport's previously anticipated 2013 exit rate has been adversely impacted by delays associated with drilling.



See the most recent drilling report and an injection wells map From
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Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

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.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

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.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.