Gulfport Energy Corp. a major player in Ohio's Utica shale, has released its first quarter 2013 report.
Highlights from the company are below.
Gulfport is scheduled to hold a teleconference of the report later today.
Here is what the company had to say about the Utica shales:
Recent Operational Highlights
Gulfport recently tested its
Gulfport recently began flowing into sales pipelines its Stout 1-28H and Stout 2-28H wells in the
The Stout 2-28H was drilled to a true vertical depth of 8,093 feet with a 6,914 foot horizontal lateral. Following a 40-day resting period, the well was placed on production at a gross 24-hour peak sales rate of 413 barrels of condensate per day and 3.3 MMCF per day of natural gas. Based upon composition analysis, the gas being produced is 1,269 BTU rich gas. Assuming full ethane recovery, the composition above is expected to produce an additional 135 barrels of NGLs per MMCF of natural gas and result in a natural gas shrink of 20%. In ethane rejection mode, the composition is expected to yield 63 barrels of NGLs per MMCF of natural gas and result in a natural gas shrink of 9%.
Gulfport ended the first quarter of 2013 with three gross wells producing. Subsequent to the first quarter, Gulfport began flowing an additional six gross wells into sales pipelines. Gulfport also anticipates an additional four gross wells to begin flowing into sales pipelines by mid-June. Below is a schedule of the most recent 24-hour sales rates of the wells now flowing into sales pipelines:
|24 - HOUR GROSS PRODUCTION RATES|
|Gas (MMcf)||Oil (Bbls)|
|Boy Scout 1-33H||1.5||449|
|Boy Scout 5-33H||1.3||205|
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No Frack Ohio, a Columbus-based grass-roots group.
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Allegheny Front, environmental public radio for Western Pennsylvania.