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Friday, April 11, 2014

Gulfport Investing $634 Million in Utica Shale This Year

From Columbus Business First:
The second-most-active oil and gas producer in Ohio expects 2014 to be a “transformational year.” 
Gulfport Energy Corp. (NASDAQ:GPOR) plans capital expenditures in the Utica shale play up to $634 million on its 167,700 acres this year, it said in an investor presentation. It plans just up to $91 million in its other two locations in Louisiana and Canada. 
Clearly, the Oklahoma City-based company is banking on the Utica play. Last year, Gulfport reported average daily production of 11,300 barrels of oil equivalents per day, much of that coming from the Utica play. This year, it projects an average of 55,000 barrels of oil equivalents per day with the vast majority coming from the Utica play.
You can read more about this here.

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