Operations

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 December 31, 2016, there were 1,472 producing horizontal wells, 256 horizontal wells that had been drilled but were not yet completed or connected to a pipeline, 19 horizontal wells that were being drilled and an additional 460 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

2.3 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

6 Rigs

6 gross operating rigs as of first quarter 2017

Utica Shale

750.7 MMcfepd

Production during the first quarter 2017

Key Highlights and 2017 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 ~2.3 Tcfe.
  • Gulfport currently has approximately ~211,000 net acres under lease in the Utica Shale:
    • Oil - ~1%
    • Condensate - ~11%
    • Wet Gas - ~14%
    • Dry Gas - ~74%

Current Activities

  • During the first quarter of 2017, production in the Utica Shale averaged approximately 750.7 MMcfepd.
  • During the first quarter of 2017, Utica production accounted for ~95% of Gulfport's total net production.

Planned 2017 Activities

  • Gulfport plans to run ~6 operated rigs and participate in non-op activity during 2017.

Planned operated activity includes:

  • Drill 87 to 97 gross (67 to 74 net) wells
  • Turn-to-sales 72 to 80 gross (61 to 67 net) wells

Planned non-operated activity includes:

  • Drill 30 to 34 gross (10 to 11) net wells
  • Turn-to-sales 42 to 46 gross (9 to 10 net) wells