Tuesday, January 06, 2015OKLAHOMA CITY -- Gulfport Energy Corp. connected 22 new wells in eastern Ohio's Utica shale during the fourth quarter of 2014, the company announced Monday.
Six of the wells are located in the condensate window of the play, 12 wells are in the wet gas window and four of the wells are placed in the dry gas window of the Utica. Gulfport has six horizontal drilling rigs operating in the play, the company said.
"We continue to be pleased with the results of our managed pressure program in the Utica shale and believe our fourth quarter production provides strong support for the program to which we remain strongly committed," Gulfport’s CEO and president, Michael G. Moore, said in a statement.
On Dec. 31, Gulfport recorded daily net production companywide of approximately 68,000 barrels of oil equivalent per day, 73% of which was natural gas and 27% of which was natural gas liquids.
In December, Gulfport estimates that net production companywide averaged 66,000 barrels of oil equivalent per day. During the fourth quarter, total net production was estimated at 5.5 million barrels of oil equivalent.
"We are pleased with the significant amount of production growth Gulfport experienced during 2014," Moore said. "Gulfport achieved approximately 5.5 million BOE during the fourth quarter of 2014, which exceeds our total production for full-year 2013 and is an increased of 41% over the third quarter of 2014," he said.
SOURCE: Gulfport Energy Corp.
Published by The Business Journal, Youngstown, Ohio.
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