Gulfport Energy Corp. said Monday it has agreed to buy 30,000 net acres in the Utica Shale in eastern Ohio for approximately $300 million, a transaction that would boost the company’s position in the play to about 137,000 gross acres (99,000 net).

The Oklahoma City-based company also said it estimates 2012 production will be 2.55 million to 2.6 million boe, but it forecast a nearly three-fold increase for 2013, ranging from 7.4 to 7.7 million boe, averaging 20,274 to 21,096 boe/d. Gulfport also plans to spend between $390 million and $410 million on capital expenditures (capex) in 2013, excluding what it may spend on a Canadian oilsands project.

Gulfport’s proposal with Windsor Ohio LLC, an affiliate of Wexford Capital LP, excludes 14 existing wells and certain acreage surrounding each well. The deal, which is expected to close by the end of the year, will increase Gulfport’s working interest in the acreage to 72.5%. Gulfport said it also plans to continue serving as operator of its acreage in the Utica.

Last month, Gulfport reported encouraging results from a well in Belmont County, OH (see Shale Daily, Nov. 29). The Shugert 1-12H well, located near Kirkwood Township, tested at an average sustained 18-hour rate of 28.5 Mcf/d of natural gas, 300 b/d of condensate and 2,907 b/d of natural gas liquids, assuming full ethane recovery and a natural gas shrink of 10%, or 7,482 boe/d.

Gulfport added 3,000 gross acres in the Utica, which CEO Jim Palm had characterized as “bolt-on acreage,” in November. During an earnings call that month, Palm added that the Utica was the company’s “primary focus area” (see Shale Daily, Nov. 16; Nov. 12).

According to the company’s guidance statement for 2013, Gulfport plans to spend the lion’s share of its capex, between $322 million and $336 million, in the Utica Shale.

Gulfport said Grizzly Oil Sands ULC, of which Gulfport holds about a 25% stake, has submitted a resource application to the Alberta Energy Resources Board for development of the 12,000 b/d Thickwood Terminal Project, located about 58 kilometers (36 miles) northwest of Fort McMurray, AB.