Gulfport Energy acquiring more Utica shale acreage in Ohio

Gulfport Energy Corp. signed a definitive agreement to buy 22,000 net acres in the Utica shale in Eastern Ohio from Windsor Ohio LLC, an affiliate of Wexford Capital LP, for $220 million, increasing Gulfport's leasehold interests in the Utica shale to 137,000 gross (128,000 net) acres.

This acquisition excludes Windsor Ohio's interest in 14 existing wells and 16 proposed future wells and certain acreage surrounding these wells. The proposed transaction, which is expected to close by Feb. 28, will increase Gulfport's working interest in the acreage to 93.8%.

Last year, Gulfport acquired 37,000 net acres in the Utica shale from Windsor Ohio LLC (OGJ Online, Dec. 18, 2012).

Calculating production from the pending acquisition, Gulfport estimates its 2013 net production will be 21,370-22,192 boe/d. Gulfport will continue to serve as operator of its acreage in the Utica shale.

Related Articles

WINTER HITS U.S. INDUSTRY, STRAINS GAS SUPPLY

01/01/1990 A record breaking cold front before and during the weekend of Dec. 23 shut down several major refineries and petrochemical plants in the U.S. Gulf ...

INTERNATIONAL BRIEFS

01/01/1990 WESTCOAST ENERGY INC., Vancouver, B.C., agreed to buy the utilities and propane business of Inter-City Gas Corp. (ICG), Winnipeg, Man., for $720 mi...

OWNERSHIP QUESTIONS CAN STYMIE DEVELOPMENT OF COALBED METHANE

01/01/1990 Although the technology exists for commercial recovery of coalbed methane, production has been hindered because of the legal quandary as to ownersh...

TEX/CON, SPUN OFF FROM BP, UP AND RUNNING

01/01/1990 BP Exploration Western Hemisphere has spun off its U.S. Lower 48 onshore exploration/development and gas gathering, transportation, and marketing a...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected