Gulfport 2015 Update: Reserves Up 83%, NatGas Production Triples

Gulfport Energy, a Utica Shale driller quite active in Ohio until mid-2015 when they began to pull back, released their fourth quarter and full year 2015 operational update yesterday. But not their financials–that comes later this month. There is no mention of drilling activity in 4Q15 (nor any guidance for 2016). We previously brought you the rumor that Gulfport was pushing the pause button on their drilling activities, back in November (see Rumor: Gulfport Energy Suspends Some (All?) Ohio Utica Drilling). However, data from the forthcoming Volume 3 of the 2015 Marcellus and Utica Shale Databook, which covers permit activity for from September through December 2015, shows that Gulfport received 30 permits in Ohio during that period of time. So it appears they have continued their program, albeit scaled back. The 4Q15 and full year 2015 update shows Gulfport’s oil and gas reserves have grown 83% for 2015 over 2014, and natural gas production tripled year over year. Production/operations-wise, 2015 was a very good year for Gulfport. What’s left to be seen is whether it was a good year for Gulfport financially too. Here’s the operations update…

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