Gulfport Energy Corporation Provides SCOOP Well Results
May 15 2018 - 8:00AM
Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the
“Company”) today provided an update on recent SCOOP well results.
Key highlights include:
- Lilly 3-15X10H produced at an average 30-day production rate of
16.7 MMcfe per day, or 2,449 Mcfe per 1,000 foot of lateral.
- Lilly 4-15X10H produced at an average 30-day production rate of
13.1 MMcfe per day, or 1,782 Mcfe per 1,000 foot of lateral.
SCOOP Woodford Production
ResultsDuring its initial 30 days of production, the Lilly
3-15X10H cumulatively produced 395.5 MMcf of natural gas and 9.6
thousand barrels of oil. Based upon the composition analysis, the
gas being produced is 1,157 BTU gas and yielding 43.3 barrels of
natural gas liquids per MMcf of natural gas and results in a
natural gas shrink of 14%. On a three-stream basis, the Lilly
3-15X10H produced at an average 30-day production rate of 16.7
MMcfe per day, or 2,449 Mcfe per 1,000 foot of lateral, which is
comprised of approximately 67% natural gas, 21% NGL and 12%
oil.
During its initial 30 days of production, the
Lilly 4-15X10H cumulatively produced 305.4 MMcf of natural gas and
8.3 thousand barrels of oil. Based upon the composition analysis,
the gas being produced is 1,157 BTU gas and yielding 43.3 barrels
of NGL per MMcf of natural gas and results in a natural gas shrink
of 14%. On a three-stream basis, the Lilly 4-15X10H produced at an
average 30-day production rate of 13.1 MMcfe per day, or 1,782 Mcfe
per 1,000 foot of lateral, which is comprised of approximately 67%
natural gas, 20% NGL and 13% oil.
The table below summarizes the Company’s recent
SCOOP well results:
|
GULFPORT ENERGY CORPORATION |
SCOOP WELL RESULTS SUMMARY |
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
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 |
|
15.2 |
|
Lilly 3-15X10H |
Central Grady |
Woodford Wet Gas |
6,816 |
1,157 |
43.3 |
14 |
% |
66 |
% |
20 |
% |
14 |
% |
18.4 |
|
16.7 |
|
— |
|
— |
|
Lilly 4-15X10H |
Central Grady |
Woodford Wet Gas |
7,323 |
1,157 |
43.3 |
14 |
% |
63 |
% |
19 |
% |
18 |
% |
14.5 |
|
13.1 |
|
— |
|
— |
|
North Cheyenne
3-10X3H |
Central Grady |
Woodford Wet Gas |
7,218 |
1,162 |
44.1 |
15 |
% |
64 |
% |
20 |
% |
16 |
% |
13.2 |
|
12.1 |
|
11.3 |
|
— |
|
North Cheyenne
4-10X3H |
Central Grady |
Woodford Wet Gas |
6,867 |
1,162 |
44.1 |
15 |
% |
62 |
% |
19 |
% |
19 |
% |
14.6 |
|
13.4 |
|
12.6 |
|
— |
|
North Cheyenne
5-10X3H |
Central Grady |
Woodford Wet Gas |
5,782 |
1,152 |
41.7 |
14 |
% |
64 |
% |
19 |
% |
17 |
% |
20.6 |
|
18.4 |
|
16.9 |
|
— |
|
North Cheyenne
6-10X3H |
Central Grady |
Woodford Wet Gas |
6,002 |
1,152 |
41.7 |
14 |
% |
64 |
% |
19 |
% |
18 |
% |
19.4 |
|
16.8 |
|
15.3 |
|
— |
|
North Cheyenne
7-10X3H |
Central Grady |
Woodford Wet Gas |
6,379 |
1,162 |
43.9 |
15 |
% |
63 |
% |
20 |
% |
17 |
% |
12.3 |
|
12.7 |
|
12.1 |
|
— |
|
North Cheyenne
8-10X3H |
Central Grady |
Woodford Wet Gas |
6,413 |
1,162 |
43.9 |
15 |
% |
62 |
% |
19 |
% |
18 |
% |
17.2 |
|
16.1 |
|
15.2 |
|
— |
|
Pauline 3-27X22H |
Central Grady |
Woodford Wet Gas |
4,322 |
1,212 |
57.3 |
18 |
% |
49 |
% |
21 |
% |
30 |
% |
8.8 |
|
8.0 |
|
7.4 |
|
6.8 |
|
Pauline 4-27X22H |
Central Grady |
Woodford Wet Gas |
7,978 |
1,212 |
57.3 |
18 |
% |
52 |
% |
22 |
% |
26 |
% |
17.3 |
|
16.1 |
|
15.0 |
|
14.1 |
|
Pauline 5-27X22H |
Central Grady |
Woodford Wet Gas |
7,929 |
1,216 |
57.4 |
22 |
% |
50 |
% |
22 |
% |
27 |
% |
22.2 |
|
19.1 |
|
17.4 |
|
16.0 |
|
Pauline 6-27X22H |
Central Grady |
Woodford Wet Gas |
7,273 |
1,216 |
57.4 |
22 |
% |
50 |
% |
22 |
% |
28 |
% |
22.9 |
|
19.6 |
|
17.7 |
|
16.2 |
|
Pauline 8-27X22H |
Central Grady |
Woodford Wet Gas |
7,658 |
1,210 |
58.8 |
19 |
% |
51 |
% |
22 |
% |
27 |
% |
18.4 |
|
18.6 |
|
17.6 |
|
16.6 |
|
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 |
|
19.9 |
|
19.0 |
|
17.9 |
|
Serenity 5-22H |
S
Grady |
Sycamore |
5,980 |
1,143 |
39.2 |
13 |
% |
70 |
% |
19 |
% |
11 |
% |
15.7 |
|
15.8 |
|
15.4 |
|
15.0 |
|
Lauper 4-26H |
SE
Grady |
Springer Oil |
4,257 |
1,418 |
120.8 |
34 |
% |
10 |
% |
11 |
% |
79 |
% |
4.7 |
|
3.2 |
|
2.9 |
|
2.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: All
well results presented are based upon three-stream production data
and assume contractual ethane recovery. |
1. Product
mix calculated utilizing 24-hr initial production rate. |
|
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, has an approximately 25% equity interest in
Mammoth Energy Services, Inc. (NASDAQ:TUSK) and has a position in
the Alberta Oil Sands in Canada through its 25% interest in Grizzly
Oil Sands ULC. For more information, please
visit www.gulfportenergy.com.
Forward Looking StatementsThis
press release includes “forward-looking statements” for purposes of
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 21E of 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 that might affect the timing and amount of the
repurchase program; 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 press 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
Relationsjwills@gulfportenergy.com405-252-4550
Gulfport Energy (NASDAQ:GPOR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gulfport Energy (NASDAQ:GPOR)
Historical Stock Chart
From Sep 2023 to Sep 2024