Gulfport 2Q13: Oil Production Down, NatGas & NGLs Way Up

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up and down arrowsGulfport 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:

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