Gulfport Energy Corporation Provides SCOOP Sycamore and SCOOP Woodford Well Results
December 21 2017 - 07:00AM
Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the
“Company”) today provided an update on recent SCOOP Sycamore and
SCOOP Woodford well results. Key highlights include:
- Gulfport’s first SCOOP Sycamore well, the Serenity 5-22H,
produced at a 24-hour initial peak production rate of 15.7 MMcfe
per day, or 2,618 Mcfe per 1,000 foot of lateral, comprised of
approximately 70% natural gas, 19% natural gas liquids and 11% oil.
When normalized to the Company’s standard 7,500 foot lateral, the
Serenity 5-22H produced at a 24-hour initial rate of 19.6 MMcfe per
day.
- The Winham 7-22H, a wet gas Woodford well, produced at a
24-hour initial peak production rate of 23.4 MMcfe per day, or
4,779 Mcfe per 1,000 foot of lateral, comprised of approximately
64% natural gas, 18% natural gas liquids and 18% oil. When
normalized to the Company’s standard 7,500 foot lateral, the Winham
7-22H produced at a 24-hour initial rate of 35.8 MMcfe per
day.
Recent Initial 24-Hour SCOOP Sycamore
Well ResultGulfport recently turned-to-sales a Sycamore
well located in southern Grady County, Oklahoma. The Serenity 5-22H
has a stimulated lateral length of 5,980 feet and a 24-hour initial
peak production rate of 12.6 MMcf per day and 282 barrels of oil
per day. Based upon the composition analysis, the gas being
produced is 1,143 BTU gas and yielding 39.2 barrels of NGLs per
MMcf of natural gas and results in a natural gas shrink of 13%. On
a three-stream basis, the Serenity 5-22H produced at a 24-hour
initial production peak rate of 15.7 MMcfe per day, which is
comprised of approximately 70% gas, 19% natural gas liquids and 11%
oil.
Recent Initial 24-Hour SCOOP Woodford
Well Result Gulfport recently turned-to-sales a Woodford
well located in the wet gas window in southern Grady County,
Oklahoma. The Winham 7-22H has a stimulated lateral length of 4,898
feet and a 24-hour initial peak production rate of 17.3 MMcf per
day and 701 barrels of oil per day. Based upon the composition
analysis, the gas being produced is 1,146 BTU gas and yielding 40.0
barrels of NGLs per MMcf of natural gas and results in a natural
gas shrink of 13%. On a three-stream basis, the Winham 7-22H
produced at a 24-hour initial production peak rate of 23.4 MMcfe
per day, which is comprised of approximately 64% natural gas, 18%
natural gas liquids and 18% oil.
The following table summarizes the Company’s
recent well results:
GULFPORT ENERGY CORPORATION |
SCOOP WELL RESULTS SUMMARY |
(Unaudited) |
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Phase |
Stimulated |
Wellhead |
NGLs |
% |
Product Mix(1) |
Average Prod. Rates (Mmcfepd) |
|
County |
Window |
Lateral |
BTU |
Per MMcf |
Shrink |
Gas |
NGLs |
Oil |
24-Hr |
30-Day |
60-Day |
90-Day |
Lauper
4-26H |
SE
Grady |
Springer Oil |
4,527 |
1,418 |
120.8 |
34 |
% |
10 |
% |
11 |
% |
79 |
% |
4.7 |
- |
- |
- |
Serenity
5-22H |
S
Grady |
Sycamore |
5,980 |
1,143 |
39.2 |
13 |
% |
70 |
% |
19 |
% |
11 |
% |
15.7 |
- |
- |
- |
EJ
Craddock 8-28X21H |
Central Grady |
Woodford Wet Gas |
7,961 |
1,171 |
47.0 |
16 |
% |
55 |
% |
19 |
% |
26 |
% |
19.7 |
17.3 |
16.1 |
- |
Pauline
3-27X22H |
Central Grady |
Woodford Wet Gas |
4,322 |
1,212 |
57.3 |
18 |
% |
49 |
% |
21 |
% |
30 |
% |
8.8 |
8.0 |
7.4 |
- |
Pauline
4-27X22H |
Central Grady |
Woodford Wet Gas |
7,978 |
1,212 |
57.3 |
18 |
% |
52 |
% |
22 |
% |
26 |
% |
17.3 |
16.1 |
15.0 |
- |
Pauline
5-27X22H |
Central Grady |
Woodford Wet Gas |
7,929 |
1,216 |
57.4 |
22 |
% |
50 |
% |
22 |
% |
28 |
% |
22.2 |
19.1 |
17.4 |
- |
Pauline
6-27X22H |
Central Grady |
Woodford Wet Gas |
7,273 |
1,216 |
57.4 |
22 |
% |
50 |
% |
22 |
% |
28 |
% |
22.9 |
19.6 |
17.7 |
- |
Pauline
8-27X22H |
Central Grady |
Woodford Wet Gas |
7,658 |
1,210 |
58.8 |
19 |
% |
51 |
% |
22 |
% |
27 |
% |
18.4 |
18.6 |
17.6 |
- |
Vinson
2-22X27H |
SE
Grady |
Woodford Wet Gas |
8,539 |
1,118 |
35.7 |
11 |
% |
79 |
% |
19 |
% |
2 |
% |
16.5 |
15.7 |
14.4 |
13.4 |
Vinson
3R-22X27H |
SE
Grady |
Woodford Wet Gas |
8,475 |
1,118 |
35.7 |
11 |
% |
79 |
% |
19 |
% |
2 |
% |
19.0 |
18.7 |
17.3 |
16.3 |
Winham
7-22H |
S
Grady |
Woodford Wet Gas |
4,898 |
1,146 |
40.0 |
13 |
% |
64 |
% |
18 |
% |
18 |
% |
23.4 |
- |
- |
- |
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Note: All well results presented are based upon three-stream
production data and assume contractual ethane recovery. |
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1. Product mix calculated utilizing 24-hr initial production
rate. |
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About GulfportGulfport Energy
is an independent natural gas and oil company focused on the
exploration and development of natural gas and oil properties in
North America and is one of the largest producers of natural gas in
the contiguous United States. Headquartered in Oklahoma City,
Gulfport holds significant acreage positions in the Utica Shale of
Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in
Oklahoma. In addition, Gulfport holds an acreage position along the
Louisiana Gulf Coast, a position in the Alberta Oil Sands in Canada
through its approximately 25% interest in Grizzly Oil Sands ULC and
has an approximately 25% equity interest in Mammoth Energy
Services, Inc. (NASDAQ:TUSK). For more information, please visit
www.gulfportenergy.com.
Forward Looking StatementsThis
press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"). All statements, other
than statements of historical facts, included in this press release
that address activities, events or developments that Gulfport
expects or anticipates will or may occur in the future, future
capital expenditures (including the amount and nature thereof),
business strategy and measures to implement strategy, competitive
strength, goals, expansion and growth of Gulfport's business and
operations, plans, market conditions, references to future success,
reference to intentions as to future matters and other such matters
are forward-looking statements. These statements are based on
certain assumptions and analyses made by Gulfport in light of its
experience and its perception of historical trends, current
conditions and expected future developments as well as other
factors it believes are appropriate in the circumstances. However,
whether actual results and developments will conform with
Gulfport's expectations and predictions is subject to a number of
risks and uncertainties, general economic, market, credit or
business conditions; the opportunities (or lack thereof) that may
be presented to and pursued by Gulfport; Gulfport’s ability to
identify, complete and integrate acquisitions of properties and
businesses; competitive actions by other oil and gas companies;
changes in laws or regulations; and other factors, many of which
are beyond the control of Gulfport. Information concerning these
and other factors can be found in the Company's filings with the
Securities and Exchange Commission, including its Forms 10-K, 10-Q
and 8-K. Consequently, all of the forward-looking statements made
in this news release are qualified by these cautionary statements
and there can be no assurances that the actual results or
developments anticipated by Gulfport will be realized, or even if
realized, that they will have the expected consequences to or
effects on Gulfport, its business or operations. Gulfport has no
intention, and disclaims any obligation, to update or revise any
forward-looking statements, whether as a result of new information,
future results or otherwise.
Investor & Media
Contact:Jessica Wills – Director, Investor Relations
jwills@gulfportenergy.com405-252-4550
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