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  1. Gulfport Energy to acquire undeveloped dry gas Utica acres in Ohio

    Oklahoma City, OK-based Gulfport Energy Corp. (Nasdaq:GPOR) has entered into a definitive agreement with a third-party to acquire approximately 12,600 net undeveloped acres located in northern Monroe County, Ohio in the core of the dry gas window of the Utica Shale for an aggregate purchase price of approximately $87 million, subject to customary post-closing adjustments. Gulfport plans to fund the acquisition with available cash-on-hand. This acreage is located near or adjacent to Gulfport’s existing acreage position and development plan, and is approximately 50% held by production. The transaction is expected to close in December 2016. Commenting on the deal, Capital One Securities analyst Brian T. Velie said “the $6.9K/acre price compares favorably to the $19K/acre value that we were modeling for the 141K net dry gas Utica acres already held by GPOR.” Gulfport Energy is an independent oil and natural gas exploration and production company with its principal producing properties located in the Utica Shale of Eastern Ohio and along the Louisiana Gulf Coast. In addition, Gulfport holds an acreage position in the Alberta Oil Sands in Canada through its 24.9% interest in Grizzly Oil Sands ULC.

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    Wed, 7 Dec 2016

  2. Gulfport to acquire 12,600 net acres in Ohio for $87 million

    Gulfport Energy Corp., Oklahoma City, signed a definitive agreement with an unnamed third party to acquire 12,600 net undeveloped acres in northern Monroe County, Ohio, for $87 million.

    Online Articles

    Online Articles

    Wed, 7 Dec 2016

  3. BHI: US rig count records largest gain in 2½ years

    The US drilling rig count jumped 20 units to 588 during the week ended Nov. 18, according to Baker Hughes Inc. data. It’s the count’s largest increase since April 2014, several months before the beginning of a steep drilling dive that lasted a year and a half.

    Online Articles

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    Fri, 18 Nov 2016

  4. 1Derrick US M&A weekly update

    1Derrick gives OGFJ readers a snapshot of oil and gas industry M&A activity for the week of November 14th to November 18th .

    Online Articles

    Online Articles

    Mon, 21 Nov 2016

  1. Marcellus, Utica provide 85% of U.S. shale gas production growth since start of 2012

    Online Articles

    Online Articles

    Tue, 29 Dec 2015

  2. Antero increases Marcellus focus due to Utica ‘transportation constraints’

    Antero Resources Corp., Denver, reported that it will further shift activity to the Marcellus from the Utica in 2016 due to “firm transportation constraints” in the Ohio shale play.

    Online Articles

    Online Articles

    Fri, 19 Feb 2016

  3. Utica shale may hold more oil, gas than earlier estimates, study says

    The Utica shale, which underlies the better-known Marcellus formation, could hold far more oil and gas than previously estimated, the US Department of Energy’s Fossil Energy Office said. If the play’s commercial potential could be realized, it could be, geographically, the nation’s largest gas ...

    Online Articles

    Online Articles

    Tue, 13 Oct 2015

  4. Oil and Gas news: EQT releases seven-day data for Utica Well

    EQT Corporation has announced the completion of the flow-back operation on its Scotts Run 591340 dry Utica well located in Greene County, Pennsylvania. 

    Online Articles

    Online Articles

    Thu, 30 Jul 2015

  5. MarkWest, EMG expand Utica dry gas gathering capabilities

    MarkWest Energy Partners LP and the Energy & Minerals Group have developed a new, large-scale dry gas gathering system to expand the parties’ midstream position in the Utica shale play. The system will be underpinned by a long-term, fee-based contract with Ascent Resources – Utica LLC, a subsidiary ...

    Online Articles

    Online Articles

    Thu, 13 Aug 2015

  6. Magnum Hunter near closing Utica JV with private equity fund

    Magnum Hunter Corp., Houston, filed US Securities and Exchange Commission documents indicating a tentative letter of intent for a Utica shale joint venture involving an undisclosed private equity fund for $430 million.

    Online Articles

    Online Articles

    Wed, 12 Aug 2015

  7. EVEP to divest interest in Utica East Ohio for $575M

    EV Energy Partners LP has signed a definitive agreement to divest its entire 21% interest in Utica East Ohio Midstream LLC to Utica Gas Services LLC, a subsidiary of Williams Partners LP, for a total cash consideration of $575 million.   

    Online Articles

    Online Articles

    Mon, 6 Apr 2015

  8. Gulfport acquires additional acreage in Utica shale play

    Gulfport Energy Corp. has entered into agreements to acquire additional acreage in the Utica shale play, associated assets and incremental firm transportation commitments from American Energy -- Utica LLC.

    Online Articles

    Online Articles

    Wed, 10 Jun 2015

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