Gulfport Production Soars in 2014, 6 Active Rigs in OH Utica

On Monday Gulfport Energy, a major driller in the Utica Shale, released a high-level operational update. Gulfport CEO Michael G. Moore said the company produced more oil and gas in the fourth quarter of 2014 than they did in all of 2013. And the Gulfport production engine continues to chug away in the Ohio Utica Shale. Gulfport brought 22 new Utica wells online in 4Q14 and has six rigs currently drilling in the Utica. Gulfport is also wisely “hedged”–meaning they’re getting about $1 per Mcf more for their gas (they currently get $4.12/Mcf) than the current spot rate of ~$3.00/Mcf. Smart…

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