Gulfport Spending $100M to Lease More OH Land in Belmont, Monroe
Gulfport Energy is the third-largest driller in the Ohio Utica Shale (by the number of wells drilled). The company emerged from bankruptcy four years ago with a new board and new management in May 2021 (see Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone). Later in 2021, the rumors began to swirl that Gulfport was looking to sell itself (see Big News: OH Utica Driller Gulfport Energy Looking to Sell Itself). Those rumors have long since expired. The company recovered and has done great since that time. Gulfport CEO John Reinhart said during yesterday’s quarterly update that the company is planning to spend up to $100 million in the coming months to lease more Utica acreage, primarily in Belmont but also a little in Monroe counties in Ohio. Read More “Gulfport Spending $100M to Lease More OH Land in Belmont, Monroe”
For the week of July 14 – 20, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week. There were 17 new permits issued across the three M-U states last week, four fewer than the 21 issued two weeks ago. The Keystone State (PA) issued just four new permits. All were single permits. Range Resources received its permit for a well in Allegheny County. EQT got a permit for a well in Greene County. Infinity Natural Resources’ (INR) permit was in Indiana County. And Expand Energy’s permit was in Wyoming County. 
For the week of Mar 3 – 9, the number of permits issued in the Marcellus/Utica to drill new shale wells increased by six from the previous week. Last week, 22 new permits were issued, with 13 (more than half) going to the Keystone State (PA). Expand Energy (Chesapeake Energy) scored five permits for a single pad in Bradford County. Coterra Energy also received five permits for a single pad in neighboring Susquehanna County. EQT had two new permits for a single pad in Washington County. And Range Resources rounded out PA’s permits with a single permit in Washington County. 
The Ohio Oil and Gas Land Management Commission (OGLMC) continues to do its job. Yesterday, the group held a meeting and awarded five contracts for drilling and fracking UNDER (not on) several state-owned lands, including a contract with EOG Resources to drill under 85 acres in Keen Wildlife Area in Washington Township, Harrison County, for $211,650 ($2,500/acre). Also of interest at yesterday’s meeting was that 40 parcels of land in Salt Fork State Park and Salt Fork Wildlife Area were removed from the committee’s agenda. Apparently, the nominating company withdrew its application for those tracts.