Gulfport 2Q13: Oil Production Down, NatGas & NGLs Way Up
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:
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Time to fly the flags at half staff. Why? It seems that freedom and liberty in New York State have died. Tyranny has slowly crept in and has now taken up residence in the Empire State. For five long years, landowners in New York have been denied their Constitutional property rights to allow shale drilling on and under their land, and frankly, there’s no end in sight to this travesty of justice. Oh, we New Yorkers have not given up! As Winston Churchill once famously said, NEVER!
Who doesn’t love a Top 10 list? David Letterman has built a career on them. There are a lot of different ways to measure who the biggest drillers are in Pennsylvania–the Top 10 drillers. Recently, the Pittsburgh Business Times took a fresh stab at it. They counted how many shale gas wells have been permitted for drilling companies. It doesn’t mean the wells have been drilled yet, but you don’t spend big bucks on a permit to not drill. We can safely assume if it’s permitted, it either has been or soon will be drilled.