Gulfport Energy (GPOR) estimates that wells into the Utica Shale will cost approximately $5 million and be drilled to a vertical depth of 7,500 to 9,500 feet. The wells will require a 5,000 foot lateral, twelve hydraulic fracturing stages and be spaced 160 acres apart.
Gulfport Energy said that each section in the Utica Shale contains 36.4 million barrels of original oil in place, and each well will have an estimated ultimate recovery (EUR) ranging from 455,000 to 910,000 barrels of oil equivalent.
The Utica Shale is approximately 140 feet thick and has an average porosity of 8%. The recovery factor is estimated to range from 5% to 10%.