Utica Shale

Operations Overview

The Utica Shale is located in the Appalachian Basin of the United States and Canada. The Utica Shale is a rock unit comprised of organic rich calcareous black shale that was deposited about 440 million to 460 million years ago during the Late Ordovician period. It overlies the Trenton Limestone and is located a few thousand feet below the Marcellus Shale.

The Point Pleasant formation, a submember of the lower part of the Utica interval, is the primary target of the play.

Horizontal drilling, combined with multistage hydraulic fracturing to create permeable flow paths from wellbores into shale units, has unlocked the resource potential of the play.

The Ohio Department of Natural Resources reported that in the Utica Shale in Ohio, as of January 2, 2016, there were 1,126 producing horizontal wells, 403 horizontal wells that had been drilled but were not yet completed or connected to a pipeline, 12 horizontal wells that were being drilled and an additional 447 horizontal wells that had been permitted.

“The phenomenal success we have achieved in the Utica Shale has solidified our position as a leading player in the prolific Appalachian Basin.”

By The Numbers

Utica Shale

1.7 Net Tcfe

Net proved reserves

Utica Shale

~211,000 Net Acres

Focused within the core of the dry, wet gas and condensate windows of the Utica Point Pleasant

Utica Shale

4 Rigs

3 gross operated rigs running as of 11/2/2016

Utica Shale

713.0 MMcfepd

Production during the third quarter 2016

Key Highlights and 2016 Activities

Gulfport Energy’s early mover advantage enabled the company to pick up a substantial amount of acreage in what it believes to be the core of the play. Highlighted facts regarding the Utica include:

Asset Overview

  • 2016 year end net proved reserves totaled ~1.7 Tcfe.
  • Gulfport currently has approximately ~ 211,000 net acres under lease in the Utica Shale:
    • Oil - ~ 4%
    • Condensate - ~14%
    • Wet Gas - ~ 15%
    • Dry Gas - ~ 67%

Current 2016 Activities 

  • Gulfport is currently running four rigs operated rigs in the play.
  • During the third quarter of 2016, production in the Utica Shale averaged approximately 713.0 MMcfepd.
  • During the second third of 2016, Utica production accounted for ~97% of Gulfport’s total net production.

Planned 2016 Activities

  • Gulfport recently signed-up rigs five and six to begin operations in November and December 2016.
  • Gulfport plans to run ~3.6 operated rigs and participate in 0.3 net non-operated rigs during 2016.
Planned operated activity includes:
  • Drill 42 to 46 gross (36 to 29 net) wells
  • Turn-to-sales 50 to 56 gross (37 to 41 net) wells
Planned non-operated activity includes:
  • Drill 20 to 22 gross (3 to 4) net wells
  • Turn-to-sales 25 to 27 gross (6 to 7 net) wells