EID's Shawn reports on Gulfport's latest encouraging results from Ohio's Utica Shale:

"Gulfport Energy released the results of two new wells in their Utica/Point Pleasant operations.  Following the results of their latest three wells, these two new wells have some large shoes to fill.  The wells, located in Harrison and Belmont counties, both showed encouraging results for the company.

The first well, the Stutzman 1-14H, is located just 4 miles south of Barnesville in Belmont County off route 800.  The well was tested after just a 12 day resting period, showing Gulfport is still tooling with different resting time frames as they become more familiar with the Utica/Point Pleasant.

The well, which has a 8,634 foot lateral, tested at an average sustained four hour rate of 21.0 MMCF per day of natural gas.  In addition, the well produced 945 barrels of natural gas liquids.  Given the composition and amount of natural gas produced and barrels of condensate produced, the well would be producing a peak initial flow rate of 4,060 barrels of oil equivalent per day.

The natural gas composition was tested at 1,078 BTU’s.  Given the composition, the natural gas produced from the Stutzman 1-14H would produce an additional 45 barrels of natural gas liquids per mcf assuming full ethane recovery.

Gulfport Energy’s second well reported on is the Clay 1-4H, located in Harrison County, just north of Freeport.  Coincidentally both wells are located off of Route 800.  The well was tested following a 75 day resting period.  The Clay 1-4H, which has a 7,372 foot lateral,  well tested at an average sustained 12 hour rate of 5.9 MMCF per day of natural gas.  In addition the Clay 1-4H produced 747 barrels of condensate per day.

The natural gas composition was tested at 1,258 BTU’s, which is significantly more liquids rich than the Stutzman 1-14H. With the added BTU’s from the gas, the Clay 1-4H is expected to produce an additional 129 barrels of NGLs per MMCF of natural gas assuming full ethane recovery.  Given the composition and amount of natural gas produced and barrels of condensate produced, the well would be producing a peak initial flow rate of 2,226 barrels of oil equivalent per day."

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