EID's Shawn provides an update on Gulfport's encouraging results in Ohio's Utica-Point Pleasant:

"UPDATE (02/4/2012, 11:00 am ET): The Stutzman 1-14H, which we reported on in January, has now been quantified and it looks like the well will be posting great revenue for Gulfport and the landowners receiving royalties.  It was recently reported by the Wheeling Intelligencer, the well could possibly be producing $100,000 a day when the well is up and running in June.

The well produced a whopping 21 million mcf a day while also producing an additional 945 barrels of natural gas liquids a day once the gas is processed.  Given these solid production numbers, Tim Carr, the Marshall Miller Professor of Energy at West Virginia University, estimates the Stutzman well has the potential to produce $100,000 a day.

“Twenty-one million cubic feet per day is very impressive. That is $63,000 per day at $3 per Mcf, add in the 945 barrels of natural gas liquids at $50 per barrel, and you are talking about something well above $100,000 per day in revenue- Tim Carr, the Marshall Miller Professor of Energy at West Virginia University (The Intelligencer, 1/27/13)

This kind of revenue will not only prove to be a profitable well for Gulfport but generate new revenue for both the landowner and the county.  The landowner will receive regular royalty payments from the well while the county will receive property tax on the well in the form of an ad valorem tax."

READ THE REST OF THE UPDATE: http://www.eidohio.org/gulfport-keeps-showing-the-promise-of-utica-...