Utica Shale

Chesapeake Energy Reports Three Utica Shale Completions

Chesapeake Energy (NYSE:CHK) reported production results of three wells recently completed into the Utica Shale in Ohio.  The company has drilled 134 wells to date in the Utica Shale through the end of the third quarter of 2012 and is operating 13 rigs in the play.

Houyouse 15-13-5 8H – 1,735 barrels of oil equivalent (BOE) per day, composed of 465 barrels of oil, 335 barrels of natural gas liquids and 5.6 million cubic feet of natural gas per day.

White 17-13-5 8H – 1,360 BOE per day, composed of 390 barrels of oil, 285 barrels of natural gas liquids and 4.1 million cubic feet of natural gas per day.

Stuart Henderson 11-12-6 1H – 825 BOE per day, composed of 410 barrels of oil, 100 barrels of natural gas liquids and 1.9 million cubic feet of natural gas per day.

Chesapeake Energy has 1.3 million acres of leasehold prospective for the Utica Shale in Ohio.

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 Reports On Shugert 1-1H Utica Shale Well

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.