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, 2017, there were 1,798 producing horizontal wells, 236 horizontal wells that had been drilled but were not yet completed or connected to a pipeline, 206 horizontal wells that were being drilled and an additional 500 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

~3.9 Net Tcfe

Net proved reserves

Utica Shale

~213,000 Net Acres

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

Utica Shale

~2.5 Rigs

Plan to run ~2.5 operated rigs and participate in non-operated activity during 2018.

Utica Shale

1,041.9 MMcfepd

Production during the fourth quarter 2017

Key Highlights and 2018 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

  • 2017 year-end net proved reserves totaled ~3.9 Tcfe.
  • Gulfport currently has approximately ~213,000 net acres under lease in the Utica Shale:
    • Oil - ~1%
    • Condensate - ~10%
    • Wet Gas - ~13%
    • Dry Gas - ~76%

Current Activities

  • During the fourth quarter of 2017, production in the Utica Shale averaged approximately 1,041.9 MMcfepd.
  • During the fourth quarter of 2017, Utica production accounted for ~82% of Gulfport's total net production.

Planned 2018 Activities

  • Gulfport is currently running 3 gross operated rigs.
  • Plan to run ~2.5 operated rigs and participate in non-operated activity during 2018.

Planned operated activity includes:

  • Drill 36 to 40 gross (26 to 29 net) wells
  • Turn-to-sales 33 to 37 gross (33 to 37 net) wells

Planned non-operated activity includes:

  • Drill 7 to 8 net wells
  • Turn-to-sales 9 to 10 net wells