EID's Shawn dissects Gulfport's recent Utica Shale data:

"In preparation for their third quarter earnings call scheduled for next Wednesday, Gulfport Energy released results for two of their Utica Shale wells that have come on line with in the past month.  Gulfport has seen great success in the Utica so far by producing two of the top wells in the state.  While these two new wells are not producing at the same rate of the previously announced wells, they both look very promising for Gulfport’s leasehold.

The Ryser 1-25H well in Harrison County is located a couple miles south of Clendening Lake.  The Ryser 1-25H was drilled to a vertical depth of 8,122 feet with an 8,291 foot horizontal lateral. Following the resting period, the Ryser 1-25H had an initial peak flow rate of 5.9 Million mcf a day, while also producing 1,488 barrels of condensate – a natural gas liquid – per day.

The natural gas tested at 1,160 BTU making it liquids-rich, another positive sign of the Utica Shale living up to it’s appeal.  Assuming full ethane recovery – the process of removing the natural gas liquids portions from the high btu produced natural gas – the composition above is expected to produce an additional 110 barrels of natural gas liquids per million mcf of natural gas and result in a natural gas shrink of 21%, equaling to an additional 649 barrels of natural gas liquids per a day.

Gulfport’s second well to come on line is the Groh 1-12H.  The Groh 1-12H is located in Northeastern Guernsey County just west on Antrim.  The Groh 1-12H was drilled to a vertical depth of 7,327 feet with a 5,414 foot horizontal lateral.  Following the resting period, the Groh 1-12H had an initial peak flow rate of 2.8 million mcf a day while also producing 1,186 barrels of condensate per day."

READ MORE: http://www.eidohio.org/gulfport-report-shows-more-promise-potential...