EID's Shawn reports on recent Gulfport Utica Shale well results:

"In Gulfport Energy’s third quarter earnings call yesterday, executives from the company continued to tout the outstanding production they have seen coming out of the Utica Shale.   Due to these strong numbers they have reported throughout this year, Gulfport is looking to make the Utica Shale their primary focus area.  In result, Gulfport will be planning to invest $215-$225 million in Ohio to develop 50 wells over the next year.  These wells will be developed in Gulfport’s core area of Harrison, Belmont and Guernsey counties.

Thanks to wells like their Boy Scout, Wagner and Shugert wells, Jim Palm, CEO of Gulfport Energy, sees this play being one of the most prolific shale plays Gulfport has been a part of, rivaling the Eagle Ford.

“We believe that our position in the Utica could be as good as the best part of the Eagle Ford based upon the overall productivity and economics.”- Jim Palm, CEO of Gulfport Energy

In the early exploration of their initial 10 wells, Gulfport performed a myriad of tests while collecting extensive geological data, including full open-hole log suites and a full core from the Utica and Point Pleasant interval.  Their findings concluded their original assumptions about the Utica being a prolific play in the United States.

“It’s becoming increasingly apparent that the Utica is a prolific shale play and we are very pleased to have captured a significant position within its core.” Jim Palm, CEO of Gulfport Energy

In an unexpected announcement, Gulfport also released initial production rates for yet another well.  The BK Stephens 1-16H located in Moorefield, which is near Piedmont in Harrison County, was drilled to a total vertical depth of 8,225 feet, with a 5,276-foot horizontal lateral.  The well was completed using a 19 stage hybrid hydraulic fracture.  The well tested at a peak rate of 1,224 barrels per day of condensate and 6.9 million cubic feet per day of gas on a 32/64 inch choke."

READ THE REST: http://www.eidohio.org/gulfport-touts-uticas-prolific-potential/