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Tuesday, July 23, 2013

Gulfport Increases Utica Shale Holdings, Reports More Production Numbers

From The Canton Repository:
The Oklahoma City-based company said it has added approximately 8,000 acres to its holdings in eastern Ohio’s Utica Shale, giving it a total of 145,000 acres in the region. 
Gulfport also revealed its sales production rate for two wells in Belmont County’s Somerset Township. 
The McCort 1-28H well has an average seven-day sales rate of 2,218 barrels of oil equivalent per day. Assuming full ethane recovery and a natural gas shrink of 14 percent, the well will produce 9.6 million cubic feet per day of natural gas and 835 barrels of natural gas liquids. 
The McCort 2-28H well was more productive over an average seven-day sales rate, producing 2,701 barrels of oil equivalent per day. The daily rate includes 11.6 million cubic feet of natural gas, 21 barrels of condensate and 1,009 barrels of natural gas liquids, assuming full ethane recovery and a natural gas shrink of 14 percent.
Read the whole article here.

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