An update on the latest drilling permits (issued the past two weeks) for the Utica Shale in both western PA and eastern Ohio, by driller and county:
At the Developing Unconventional Gas (DUG) East Conference in Pittsburgh yesterday, EnerVest CEO John Walker contradicted the view of Chesapeake CEO Aubrey McClendon. McClendon said the Ohio Utica Shale will not produce much oil—at least for Chesapeake (see this MDN story). Walker said he believes the Utica will produce a lot of oil—that is, once they figure out the “right completion method.”
Gulfport’s CEO Jim Palm also spoke glowingly about the Utica at the conference. Gulfport, you may recall, has the highest producing Utica well so far (see this MDN story). The conference is organized by Hart Energy, who provided information stating lease payments in the Ohio Utica Shale have reached as high as $8,000 per acre.
Read More “EnerVest CEO Contradicts McClendon: Utica Oil Will be Big”
On a conference call last week, Gulfport Energy’s CEO James Palm called the Utica Shale a “once-in-a-lifetime play … and a company changer.” He said the company plans to invest $225 million next year in Ohio’s Utica Shale to drill 50 new wells. The eventual goal? They plan to drill 400 Utica Shale wells in the next four years.
Read More “Gulfport CEO Says Company’s Future is the Utica Shale”
Gulfport Energy Corporation, a company that has two of the highest producing natural gas wells in the Ohio Utica Shale, released their third quarter financial and operational update yesterday. Counter to most other large drillers, Gulfport showed a slight profit in 3Q12—of $0.5 million—on $60.5 million in revenue. If not for some income tax expenses their net income for 3Q12 would have been $16 million.
In the 3Q12 update we get production details for a sixth horizontal well drilled by Gulfport in the Utica—the BK Stephens 1-16H well (in Harrison County, OH), which is producing an initial 1,224 barrels of condensate per day, 6.9 million cubic feet of natural gas per day, and 759 barrels of natural gas liquids per day.
Read More “Gulfport Energy 3Q12: Profits Up, Drilled 5 New Utica Wells”
Gulfport Energy is one of the few Marcellus and Utica Shale drillers who regularly reports on production results for its new wells (something we appreciate!). MDN told previously told you about Gulfport’s “King” of Utica wells, the Shugert 1-1H in Belmont County, Ohio, which produced 20 million cubic feet of natural per day, 144 barrels of condensate per day, and 2,002 barrels of natural gas liquids per day (see this MDN story).
Yesterday Gulfport released numbers for more new wells in Harrison and Guernsey counties in Ohio. Although the methane output of the wells is not spectacular, the condensate and natural gas liquids output is noteworthy. Here’s the latest report from Gulfport:
Read More “Gulfport Energy Releases New Production Numbers for OH Wells”
Yesterday Gulfport Energy Corporation reported astonishing production results for it’s Utica Shale well Shugert 1-1H (in the town of Kirkwood, Belmont County, Ohio). The well tested at an initial rate of 20 million cubic feet of natural gas per day (Mmcf/d). It also produced an initial 144 barrels of condensate per day, and 2,002 barrels of natural gas liquids per day.
Previously, MDN reported another Gulfport Utica well (the Wagner 1-H) had become the “alpha dog” by overtaking the famed Chesapeake Buell well—and the Wagner well was flowing at “just” 14 Mmcf/d and producing 1,881 barrels of NGLs (see this MDN story). What do we call this new well: The King? (We’re running out of metaphors!) The new Shugert 1-1H well by Gulfport is, to MDN’s knowledge, the single largest producing well in the Utica Shale.
Read More “New ‘King’ of Utica Wells? Gulfport Shugert Well @ 20 Mmcf/d”
The latest permits issued in Mahoning, Harrison, Portage and Monroe counties in Ohio:
Read More “ODNR Issues New Permits in Mahoning, Other OH Counties”
Gulfport yesterday reported initial peak results for its Utica Shale well called Boy Scout 1-33H, located in Deersville (Harrison County, OH). Although the flow rates are not as great as Gulport’s recently reported “alpha dog” well, the Wagner 1-H, also in Harrison County (see this MDN story), the new Boy Scout 1-33H is turning in respectable numbers:
Read More “Another Gulfport Utica Well in Harrison County Coming Online”
There’s a new “alpha dog” of Utica Shale wells in Ohio that’s upstaging Chesapeake Energy’s Buell well. The Gulfport Energy Wagner 1-28H well in Harrison County is producing an enormous amount of natural gas—record-breaking in fact.
Gulfport reports the Wagner well is “by far the strongest well” ever produced by Gulfport.
Read More “Gulfport’s “Alpha Dog” Utica Shale Well Upstages Chesapeake Well”
You may not get rich as a landowner of a small plot of ground by leasing it for gas drilling, but depending on where you live, even if you own just a half acre of land, you may be able to participate in Marcellus or Utica Shale drilling. That’s what happened with Belmont County when they recently discovered the county owns a half acre plot of land they previously didn’t know they owned. Gulfport Energy made them an offer they couldn’t refuse.
Read More “Would Drillers be Interested in a Half Acre? Yep”
Rhino Resource Partners produces metallurgical and steam coal in a variety of basins throughout the United States. It also owns oil and gas acreage in the Utica and Cana Woodford plays. Rhino previously invested in an 80,000 Utica Shale acre joint venture with Gulfport Energy and Wexford Capital. Rhino’s investment gives them a 10.8% interest. Since that initial investment, Gulfport and Wexford have continued to buy up Utica Shale acreage and now have leases for 125,000 acres (including the original 80,000). The partners have extended an offer to Rhino to get a piece of the bigger action, which Rhino is doing.
From Rhino’s press release announcing a new deal with Wexford:
Gulfport Energy Corporation has released their second quarter earnings and operations update. Gulfport is a Utica Shale driller (among other basins across the U.S. and Canada). In the news for Gulfport for 2Q12: They drilled four new Utica Shale wells, three of which were completed and waiting to go online. Their first horizontal well in the Utica, drilled in February of this year, came online and at its peak was producing 17.1 million cubic feet of gas per day (Mmcf/d), along with 432 barrels of condensate per day and 1,881 barrels of natural gas liquids per day.
The relevant sections of the update dealing with Utica Shale operations:
Read More “Gulfport Energy 2Q12 Update: First Utica Well Comes Online”
Gulfport Energy reports it has just completed drilling the two longest horizontal Utica Shale wells—ever. The horizontal portion for one of the wells, located in Harrison County, Ohio, went over 1.5 miles.
Here’s the particulars:
Read More “Gulfport Drills Longest Horizontal Utica Wells to Date”
Gulfport Energy Corporation is an Oklahoma City-based independent oil and natural gas exploration and production company. Most of Gulfport’s oil and natural gas drilling operations are located along the Louisiana Gulf Coast and in the Permian Basin in West Texas. However, Gulfport has acquired acreage and is starting to make moves the Utica Shale of eastern Ohio. They are currently in the process of drilling and completing their first five Utica Shale wells.
Yesterday Gulfport provided an operational update. Here are the relevant sections with respect to their Utica Shale operations:
Read More “Gulfport Energy Gets Active in Ohio’s Utica Shale”
MarkWest’s joint venture with EMG, called MarkWest Utica, has finalized their deal with Gulfport Energy to provide midstream infrastructure services (pipelines and gas processing) in Harrison, Guernsey and Belmont counties in Ohio. The deal was initially announced in early March (see this MDN story). No word on the price tag for the deal.
Read More “MarkWest/EMG Finalize Deal with Gulfport Energy in OH Utica”