Gulfport: Utica shale accounts for 97% of overall net 2Q production

Gulfport Energy Corp., Oklahoma City, reported its second-quarter Utica shale production in Ohio accounted for 97% of its overall net production compared with 79% a year earlier.

The company’s net production in the Utica shale was 457.6 MMcfd of natural gas equivalent. Its companywide production of 473.9 MMcfed was 196% above a year earlier and 12% above first quarter 2015.

Gulfport’s realized prices for the quarter averaged $1.99/Mcf for natural gas, $12.71/bbl or 30¢/gal for NGL, and $47.40/bbl for oil. Gulfport’s overall production mix was 77% natural gas, 13% NGL, and 10% oil.

As of June 30, Gulfport had 137 gross wells producing in the Utica shale in the Appalachian basin. Gulfport started drilling nine gross wells there during the quarter and turned to sales 19 gross wells, all in the “dry gas phase window of the play.”

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