Gulfport Energy (GPOR) is at an early stage of development of the Utica Shale on the company’s acreage in Ohio. The company has 17,500 net acres and is planning to increase the leasehold to between 55,000 and 65,000 net acres.
Gulfport Energy expects to start drilling in the Utica Shale in 2012 and said that the formation will have an oil window, a wet gas and condensate area and a dry gas portion. The Utica Shale gets shallower and less mature as you move west across Ohio.
Gulfport Energy is focused on the oil and wet gas areas of the Utica Shale and is looking to pick up more acreage in Belmont, Carroll, Colombia, Guernsey, Harrison, Jefferson, Monroe and Tuscarawas counties.