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

ExxonMobil ‘winding down’ Arctic well, complying with US, EU sanctions on Russia

09/19/2014 ExxonMobil Corp. released a statement that the company is complying with all US sanctions on Russia after news reports that the operator had halted...

ExxonMobil, Linn to make second asset exchange this year

09/19/2014 ExxonMobil Corp. has agreed to trade interest in 500 net acres from South Belridge field near Bakersfield, Calif., to Linn Energy LLC, Houston, in ...

Wild Well completes second capping stack

09/18/2014 Wild Well Control Inc., a subsidiary of Superior Energy Services, has completed a subsea capping stack stationed in Singapore to serve the area dur...

Continental appoints president, chief operating officer

09/18/2014 Continental Resources Inc., Oklahoma City, has named Jack Stark as president and chief operating officer. He succeeds W.F. Bott, who stepped down f...

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