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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.*
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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:
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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…

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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…

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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:

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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:

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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:

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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:

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Antero Resources | Chesapeake Energy | CNX Resources | Energy Companies | Gulfport Energy | Hilcorp Energy | Ohio | Statewide OH | Utica Shale | XTO

New Utica Permits for Hilcorp, Chesapeake, Others
December 21, 2012December 21, 2012

The latest permits issued last week by the Ohio Dept. of Natural Resources (ODNR) for Utica Shale drilling include permits for Hilcorp, Chesapeake, Gulfport, XTO, CNX Gas and Antero.

Here’s the details on which counties and for how many wells:

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Anadarko | Chesapeake Energy | Chevron | Energy Companies | Energy Services | EnerVest | Exxon Mobil | Gulfport Energy | MarkWest Energy | Ohio | Statewide OH | Utica Shale

Motley Fool’s “Ubiquitous in the Utica”
December 21, 2012December 21, 2012

The Motley Fool investing website published a “round-up” type of article two days ago that focuses on the major players (drillers) in the Marcellus Shale (see this MDN story), part of a series that looks at major energy plays in the U.S. Yesterday they continued the series with an article that looks in detail at the Utica Shale.

The article starts off by listing the top 7 companies by the amount of acreage they lease. They are (from highest to lowest amount of acreage):

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Energy Companies | Gulfport Energy | Lease & Royalty Payments | Ohio | Rhino Resource Partners | Statewide OH

Gulfport Adds Another 30K Utica Net Acres, Pays $10K/Acre
December 18, 2012December 18, 2012

Gulfport Energy announced yesterday they have purchased another 30,000 Utica Shale acres in eastern Ohio for $300 million—or $10,000 per acre. That brings Gulfport’s grand total to 137,000 gross Utica Shale acres (99,000 net acres). Gulfport bought the acreage from its Utica Shale joint venture partner Wexford Capital. Perhaps a better way of phrasing it: Gulfport increased its ownership interest in acreage in which they’ve already invested.

Gulfport and Wexford, along with Rhino Resources, have previously invested in both two and three-way Utica Shale jv’s together (see this MDN story). So far, Gulfport has drilled the top producing wells in Ohio (see this MDN story for the secret to their success).

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

The Secret to Gulfport’s OH Utica Drilling Success
December 17, 2012December 17, 2012

An excellent article on the Youngstown Business Journal website from Saturday delves into the question of why Gulfport Energy has (so far) turned in the most impressive results of all Utica Shale drilling in Ohio (see this MDN story for background on their success). Gulfport CEO Jim Palms credits better science and a little of luck for their astonishing success.

The real secret as to why Gulfport’s wells in Harrison and Belmont counties are doing so much better than counties farther north, like Carroll and Columbiana? It has to do with pressure…

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Chesapeake Energy | Energy Companies | Gulfport Energy | Ohio | Statewide OH

Chesapeake Admits Misjudging Ohio Utica Sweet Spot
December 14, 2012December 14, 2012

The Utica Shale is still in its infancy and drillers are still trying to get a fix on the “sweet spots” that will produce the most natural gas, gas liquids and even oil. Rendering an opinion on the best places to drill can be a career-ender, like it was for one long-time ODNR employee (see this MDN story).

Chesapeake was the early mover in Ohio’s Utica Shale, and it’s still the biggest driller in Ohio. However, we have an interesting admission from Chesapeake this week: They’ve misjudged the “emerging fairway” of the Utica in Ohio. While Chesapeake is concentrating most of their drilling in Carroll and Columbiana counties in the northern part of the state, Gulfport has drilled the four highest-producing wells in the Utica in counties to the south.

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Carroll County | Chesapeake Energy | Energy Companies | Gulfport Energy | Harrison County | Ohio | Utica Shale

Latest Permits Issued in Ohio’s Utica Shale, Week of Nov 25
December 5, 2012December 5, 2012

Here’s where the latest round permits have been issued for Utica Shale drilling by the Ohio Dept. of Natural Resources, for the week of Nov. 25, 2012:

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Belmont County | Energy Companies | Energy Services | Gulfport Energy | MarkWest Energy | Ohio | Utica Shale

Gulfport’s New Utica Well Produces Mind-blowing 28.5 Mmcf/d!
November 28, 2012November 28, 2012

First we had the “Alpha Dog” Utica Shale well from Gulfport Energy, the Wagner 1-H well producing 14 million cubic feet of natural gas per day (see this MDN story). Then we had an even bigger success with Gulfport’s Shugert 1-1H, which MDN dubbed the “King of Utica Shale wells” producing a whopping 20 million cubic feet of gas per day (see this MDN story). We’re running out of metaphors to use! Yesterday Gulfport reported a flow rate of 28.5 million cubic feet per day on the Shugert 1-12H well (in Belmont County, OH), sister well to the 1-1H. Wow! Shall we call the 1-12H the Emperor Utica Shale well? It certainly ascends to the throne as the top-most producing well in the Utica.

In the same announcement from yesterday Gulfport said it has made its first sales in the Utica Shale via MarkWest Energy. Here is the full press release with details on the Shugert 1-12H and MarkWest:

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