Gulfport in $220m shale splurge

Gulfport Energy

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Eoin O'Cinneide

 11 February 2013 13:33 GMT

US independent Gulfport Energy is splashing out once again on more acreage as it increases its stake in the Utica shale.

The Oklahoma-headquartered company is shelling out $220 million on around 22,000 net acres in the core shale play from an affiliate of Wexford Capital.

The purchase of the acreage in eastern Ohio would bump Gulfport’s total holding in the Utica shale up to 137,000 gross acres, 128,000 net to Gulfport

It would also increase its interest in the acreage to 93.8% with Wexford affiliate Windsor Ohio holding onto its interest in 14 existing wells and 16 proposed new wells.

Gulfport now expects 2013 production to be between 21,370 barrels of oil equivalent per day and 22,192 boepd.

The planned purchase comes hot…

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