Gulfport’s New Record-Breaking Well in Belmont Cnty – 30.3 Mmcf/d
Gulfport Energy, the #2 driller in the Ohio Utica Shale behind Chesapeake Energy, has drilled some of the most prolific wells in the Utica (see Gulfport’s New Utica Well Produces Mind-blowing 28.5 Mmcf/d!). According to Gulfport CEO James Palm on an investor call yesterday, the company continues their winning streak and has just bested their own record. Gulfport’s Irons 1-H well in Belmont County (Washington Township) is now officially their highest producing single gas well with an initial production (IP) of 30.3 million cubic feet of natural gas per day! These are astonishing numbers.
In a phone call with analysts to discuss 3Q13 results, Palm had the following to say:
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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.
