Mouse Over to Stop Rotation & Read Ad

Thursday, May 30, 2013

Gulfport Energy Doing Well Finding Utica Sweet Spot

From the Motley Fool:
Utica sweet spot 
While the Utica is loaded with potential, it has not developed into the top-tier oil play that Devon Energy and Chesapeake Energy had hoped. That's caused Devon to decide to exit its position in the play while Chesapeake is looking to reduce its position. Gulfport, on the other hand, has found the best spot in the play and is increasing its acreage. That's no surprise when you consider that its first 14 wells averaged an initial rate of 3,055 barrels of oil equivalent per day. While those wells were certainly more gassy than expected, Gulfport sees the Utica as a catalyst to substantially increase its production and reserves.
Read more of this article, which is focused on why this analyst feels that Gulfport is a good investment, by clicking here. 

Connect with us on Facebook and Twitter!

No comments :

Post a Comment

Follow by Email