Gulfport Energy Still Looking to Reap Rewards From Utica Shale
From The Motley Fool:
Gulfport Energy (NASDAQ: GPOR) won't end the year producing as much oil and gas at it had hoped. Drilling delays and infrastructure problems have forced the company to aim a bit lower. That being said, Gulfport Energy still sees lots of promise from Ohio's Utica Shale.
It's not alone. Chesapeake Energy (NYSE: CHK) and Halcon Resources (NYSE: HK) both continue to move forward with programs to develop the Utica Shale. In Chesapeake's case, it actually sees its production accelerating as infrastructure expands. As the following slide details, there are a number of infrastructure projects coming online, including processing plants and a Gulf Coast ethane pipeline that are critical to producers.
Source: Chesapeake Energy
The other critical piece of information that the slide points out is that Chesapeake still has 93 of its 321 drilled wells waiting on pipelines (WOPL) and another 122 in various stages of completion. This is important to see, because it's exactly what has forced Gulfport Energy to reduce its guidance. This isn't a company being plagued by poor well performance; in fact its latest wells have all performed very well.