Gulfport 2Q13: Oil Production Down, NatGas & NGLs Way Up
Gulfport Energy issued its second quarter 2013 operations update yesterday. Among the highlights: The company produced less oil than a year ago after selling off its Permian wells and acreage to Diamondback, but they saw a dramatic increase in production of natural gas and natural gas liquids from a year ago. Gulfport’s natgas production was up 6.5X and liquids production more than doubled–up 2.3X from last year. The company also said they increased their Utica Shale acreage by an additional 8,000 acres–they now own 145,000 leased Utica acres.
Also in the update are production numbers for a series of new wells recently brought online–the McCort wells in Belmont County (Somerset Township), OH. The full 2Q13 Gulfport update: