Gulfport Energy (Nasdaq:GPOR) reported initial production results on the Shugert 1-1H well drilled into the Utica Shale. The company said that peak rate production was 4,913 barrels of oil equivalent (BOE) per day composed of:
- 20 million cubic feet of natural gas
- 144 barrels of condensate
- 2,002 barrels of natural gas liquids
The production results on the Shugert 1-1H well assume full ethane recovery and a natural gas shrink of 17%. Gulfport Energy expects to put the Shugert 1-1H well onto sales production in December 2012.