Utica Shale

Gulfport Energy Reports Two Utica Shale Completions

Gulfport Energy (Nasdaq:GPOR) reported production results on two wells recently drilled into the Utica Shale. 

Ryser 1-25H – 2,914 barrels of oil equivalent (BOE) per day composed of 1,488 barrels of condensate, 5.9 million cubic feet of natural gas, and 649 barrels of natural gas liquids per day.

Groh 1-12H – 1,935 BOE per day composed of composed of 1,186 barrels of condensate, 2.8 million cubic feet of natural gas, and 367 barrels of natural gas liquids per day.

Gulfport Energy plans to put both Utica Shale wells onto production in January 2013.

Gulfport Energy Drilling Seventh Utica Shale Well

Gulfport Energy (GPOR) started drilling four gross Utica Shale wells during the second quarter of 2012.   The company’s first horizontal well was drilled in February 2012.

Gulfport Energy said that the Wagner 1-38H was put onto production at an initial production rate of 17.1 million cubic feet of natural gas and 432 barrels of condensate per day.  The well is also expected to produce between 41 and 110 barrels of natural gas liquids per day for every one million cubic feet of natural gas production.

Gulfport Energy is operating two rigs in the Utica Shale and is currently drilling the company’s next two wells, bringing the total to seven. The company has 62,500 net acres under lease.

Gulfport Energy’s other Utica Shale wells include:

Boy Scout #1-33H – well completed

Ryser #1-25H – being completed

Groh #1-12H – well completed

BK Stephens #1-16H - drilling

Shugert #1-1H – well completed

Shugert #1-12H - drilling

Gulfport Energy Updates Utica Shale Drilling Program

Gulfport Energy (GPOR) reported that the company has reached total depth on three horizontal wells drilled into the Utica Shale.

The Wagner 1-28H well found 123 feet of pay in the Utica Shale/Point Pleasant formation and was completed with a 28 stage hydraulic fracturing operation.  Gulfport Energy plans to wait 60 days before flowing the well.

The Boy Scout 1-33H well was drilled with a 7,974 foot lateral and found 126 feet of pay in the Utica Shale/Point Pleasant formation.  The well is currently undergoing hydraulic fracturing operations.

The Groh 1-12H was drilled with a 5,414 foot horizontal lateral and is waiting on completion operations.  The well found approximately 119 feet of net Utica Shale/Point Pleasant pay.

Gulfport Energy is operating two rigs in the Utica Shale and plans to drill at least two additional horizontal Utica Shale wells in 2012.