Gulfport Energy

Belmont County | Energy Companies | Gulfport Energy | Ohio | Statewide OH | Utica Shale

Gulfport 2Q13: Oil Production Down, NatGas & NGLs Way Up
July 24, 2013

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:
Read More “Gulfport 2Q13: Oil Production Down, NatGas & NGLs Way Up”
Belmont County | Crime | Energy Companies | Gulfport Energy | Industrywide Issues | Ohio | Wastewater

Another OH Company Shut Down for Illegal Frack Wastewater Dumping
June 5, 2013June 5, 2013

Yesterday the Ohio Dept. of Natural Resources (ODNR) shut down St. Clairsville (Belmont County), OH company Harch Environmental Resources saying the company was caught illegally dumping fracking wastewater on the ground in Ohio. ODNR also rapped Gulfport Energy on the knuckles but good as well. Gulfport used Harch but, according to ODNR, “failed to meet its responsibility to monitor” frack wastewater from cradle to grave. Both Harch and Gulfport are now being investigated by Ohio’s attorney general for civil and criminal charges.

The notice issued yesterday from ODNR:
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Antero Resources | Chesapeake Energy | Energy Companies | Gulfport Energy | Ohio | Statewide OH | Utica Shale

Utica Shale Potpourri: Gulfport, Chesapeake, Antero & More…
June 5, 2013June 5, 2013

The Akron Beacon Journal‘s Bob Downing does a great job, as usual, of jamming a lot of useful facts and figures into a single article. He posted a story on Monday that we would call “Utica Shale potpourri”…a round-up of interesting tidbits from the world of Utica Shale drilling from recent analyst and investor phone calls.

Here’s Bob’s latest information feast!…
Read More “Utica Shale Potpourri: Gulfport, Chesapeake, Antero & More…”
Chesapeake Energy | Energy Companies | Gulfport Energy | Halcon Resources | Ohio | Statewide OH | Utica Shale

3 Important Questions Asked/Answered about Utica Shale Potential
June 4, 2013June 4, 2013

Investors website The Motley Fool does a good job of asking, and answering, three important questions about the Utica Shale play, especially in light of the recent 2012 production report issued by the Ohio Dept. of Natural Resources.

The Fool article takes a look at: (1) Which other play(s) is the Utica like? (2) Were the 2012 numbers really a disappointment? And, (3) Why are producers holding back production?…
Read More “3 Important Questions Asked/Answered about Utica Shale Potential”
Chesapeake Energy | Devon Energy | Energy Companies | Gulfport Energy | Ohio | Statewide OH | Utica Shale

Gulfport Does Best Job of Locating Utica Shale’s Oil Window
May 30, 2013May 30, 2013

The old real estate bromide “location, location, location” is never more relevant than in the oil patch. An article on The Motley Fool website makes the following observation about the prospects for oil production in the Ohio Utica Shale for Devon Energy, Chesapeake Energy and Gulfport Energy:
Read More “Gulfport Does Best Job of Locating Utica Shale’s Oil Window”
Energy Companies | Gulfport Energy | Hydraulic Fracturing | Industrywide Issues | Ohio | Statewide OH | Utica Shale

OH Watershed District Cuts New Water Deal for Gulfport Fracking
May 20, 2013May 20, 2013

MDN told you a month ago that the Muskingum Watershed Conservancy District (MWCD) had voted to sell water from its plentiful reservoirs and lakes to Antero Resources and Gulfport Energy for use in Utica Shale fracking operations (see Muskingum Watershed Votes to Sell 209M Gals of Water for Fracking). Of the 209 million gallons they agreed to sell, only about 25 million would be sold to Gulfport.
Read More “OH Watershed District Cuts New Water Deal for Gulfport Fracking”
Energy Companies | Gulfport Energy | Utica Shale

Gulfport Energy 1Q13: Utica Utica Utica
May 8, 2013May 8, 2013

Gulfport Energy Corporation reported its first quarter financial and operating results yesterday, and there’s lots of talk about their efforts in the Utica Shale. Gulfport includes details about their wells and the oil and gas production they’re achieving in the Utica.

Here’s the Gulfport operational highlights for 1Q13 along with their Utica Shale Operational Update (complete with impressive 24-hour production rate numbers for the current nine operating wells that are now online):
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Energy Companies | Gulfport Energy

Utica Shale Darling: Gulfport Rings the Closing Bell for NASDAQ
April 17, 2013

Times Square in New York City is always a favorite place to visit for MDN editor Jim Willis. He gets there at least 3-4 times a year, passing through on business. For those who have never been, the first time you visit, it’s sensory overload. So many lights, so many people–all in an organized chaos. It’s fun!

We’re not sure if Jim Palm, CEO of Gulfport Energy (a rising drilling star in the Ohio Utica Shale) has previously visited Times Square, but he was there yesterday–ringing the closing bell for the NASDAQ MarketSite.*
Read More “Utica Shale Darling: Gulfport Rings the Closing Bell for NASDAQ”
Anadarko | Antero Resources | Blue Ridge Mtn Res/Magnum Hunter | BP | Chesapeake Energy | Chevron | Energy Companies | EnerVest | Gulfport Energy | Hess | Ohio | Shell | Statewide OH | Utica Shale

Who’s Who in Leasing & Drilling the Utica Shale?
April 1, 2013April 1, 2013

Many people eagerly await Ohio’s annual production numbers, which will (hopefully) be out sometime later this week. Drillers had to file their production numbers no later than yesterday, Mar. 31. MDN has brought you some of the recent “idle” speculation that inevitably happens while waiting. The speculation lately has been along the lines of, “Is the Utica really all it’s cracked up to be?” (see More Angst Over OH Utica’s Oil Prospects). It is natural gas liquids (NGLs) and oil that makes the Utica special. If it turns out Utica production is mostly dry gas (methane only), it will be a major disappointment.

Investor websites are famous for analyzing this stuff to death before any hard data is available. We say: Let’s see what the numbers actually say! In the meantime, yet another “idle speculation” article on one of our favorite sites, The Motley Fool, once again talks about the potential for the Utica. However, a big part of the article interests us. It’s a handy, condensed roundup of the major energy companies that are active in the Utica Shale:
Read More “Who’s Who in Leasing & Drilling the Utica Shale?”
Energy Companies | Gulfport Energy | Ohio | Statewide OH

Will OH Utica Turn Out to be Steak, or Just Sizzle? Eye on April
March 25, 2013March 25, 2013

Ohio will soon compile and release annual production numbers for Utica Shale wells drilled and in production during 2012. Ohio is one of the “least transparent states” when it comes to reporting energy output with annual filings. Drillers are required to provide production numbers for 2012 by March 31. Last year the Ohio Dept. of Natural Resources (ODNR) posted production numbers in just a few days—on April 2nd. However, last year’s reporting (from 2011) was for 5 wells—all from Chesapeake. This year the reporting will be from multiple drillers for 50-60 wells. Everyone is waiting, with baited breath. There’s a lot riding on the numbers reported this year.

Will the Utica numbers turn out to be like the Eagle Ford—a play prolific in profitable oil and natural gas liquids? Or will it be more of a less-profitable, methane-only play? A Reuters article takes a look at that question. The article also highlights some interesting information for just how far production numbers have fallen from initial peak rates for a pair of Gulfport wells…

Read More “Will OH Utica Turn Out to be Steak, or Just Sizzle? Eye on April”
About MDN | Coterra Energy (Cabot O&G) | Education | Energy Companies | Energy Services | Gulfport Energy | Industrywide Issues | MarkWest Energy | MDN Resources | Ohio | Statewide OH | Utica Shale

Live from Columbus, OH… Utica Shale Confab – Day 2
March 1, 2013March 1, 2013

Wednesday was the conclusion of the two-day 2nd Utica Shale Development & Growth Forum in Columbus, Ohio. MDN Editor Jim Willis moderated a panel of shale industry media reporters. It was fun! (See my presentation slides below.) We also heard speakers from MarkWest, Penn State’s Marcellus Center, and from Cabot Oil & Gas. Jim’s conference notes from Day 2, including a slip about new numbers coming Gulfport in the Utica…

Read More “Live from Columbus, OH… Utica Shale Confab – Day 2”
Energy Companies | Gulfport Energy | Lease & Royalty Payments | Ohio | Statewide OH | Utica Shale

Gulfport Purchases More Utica Shale Leases for $10K/Acre
February 12, 2013February 12, 2013

$10,000 per acre seems to be the price Gulfport is willing to pay other energy companies to take over their acreage in the Ohio Utica Shale. Last December Gulfport paid $10K/acre for 30,000 acres (see Gulfport Adds Another 30K Utica Net Acres, Pays $10K/Acre). Yesterday Gulfport announced they’ve purchased another 22,000 acres from the same company, Windsor Ohio (a division of Wexford Capital), also for $10K/acre. This new acreage bumps Gulfport’s Utica Shale lease holdings to 137,000 acres.

Yesterday’s Gulfport announcement about their latest Utica purchase:

Read More “Gulfport Purchases More Utica Shale Leases for $10K/Acre”
Belmont County | Energy Companies | Gulfport Energy | Lease & Royalty Payments | Ohio | Utica Shale

Mind-blowing Earnings from a Single Utica Shale Well
January 28, 2013January 28, 2013

Wow! Some truly astonishing numbers (if they hold up) for the earnings power from a single Gulfport well in the Utica Shale of Belmont County, Ohio. According to a WVU professor who tracks these things, the Stutzman well, when brought online, will be earning in the neighborhood of $100,000 per day for Gulfport, and a huge royalty check for the landowner.

Here’s the calculations:

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Belmont County | Energy Companies | Gulfport Energy | Harrison County | Ohio | Utica Shale

More Impressive Production Numbers for Gulfport in OH’s Utica
January 23, 2013January 23, 2013

Some more impressive production results have just been reported by Gulfport Energy for two of their Utica wells in Ohio: The Clay-1-4H in Harrison County, and the Stutzman 1-14H well in Belmont County. Recall that the most productive well we’ve heard of anywhere (Utica, Marcellus or any other play) was drilled by Gulfport, the Shugert 1-12H in Belmont County. Looks like Belmont County in particular continues to be a great place to drill.

Here’s the results they reported yesterday:

Read More “More Impressive Production Numbers for Gulfport in OH’s Utica”
Carrizo Oil & Gas | Chesapeake Energy | Energy Companies | Energy Services | EV Energy Partners | Gulfport Energy | Hess | MarkWest Energy | Ohio | Statewide OH | Utica Shale

More than $1.2B & Counting on New Utica Drilling for 2013
January 21, 2013January 21, 2013

So far, more than $1.2 billion (that we know of) has been budgeted by Ohio’s Utica Shale drillers for 2013. A whopping $7 billion has been allocated for pipelines and processing plants over the next several years.

Here’s a quick rundown on the plans for a few of the Utica’s major drillers and what they plan to spend on drilling in the Utica in 2013:

Read More “More than $1.2B & Counting on New Utica Drilling for 2013”
Antero Resources | Chesapeake Energy | CNX Resources | Energy Companies | Gulfport Energy | Hess | Hilcorp Energy | Ohio | Statewide OH

ODNR Issues 17 New Permits for Utica Drilling…Last Week
January 16, 2013January 16, 2013

The permits to allow Utica Shale drilling in eastern Ohio continue to roll out from the Ohio Dept. of Natural Resources (ODNR). Here are the details on the 17 new permits issued in Ohio last week:

Read More “ODNR Issues 17 New Permits for Utica Drilling…Last Week”