Strong performance during the first six months of the year has prompted Gulfport Energy Corp. to again increase its 2018 production guidance.
Articles from Utica
Although it cut capital expenditures earlier this year on the dim outlook for natural gas prices, Appalachian pure-play Eclipse Resources Corp. managed to beat its second quarter production guidance.
Chesapeake Energy Corp. is exiting Ohio’s Utica Shale, a play it pioneered, in a $2 billion divestiture to Houston-based startup Encino Acquisition Partners (EAP), which has plans to aggressively develop the 900,000 net acres.
Ohio’s unconventional natural gas production continued its upward climb in the first quarter, jumping more than 40% year/year (y/y) and setting a new state record at 531.3 Bcf.
Ascent Resources LLC announced on Friday that it would acquire 113,400 net Utica Shale acres for $1.5 billion in a package of deals with multiple sellers, ballooning the company’s position in the play to more than 300,000 net acres and becoming one of the country’s largest private exploration and production (E&P) companies in the process.
The super-sized well pads targeting multiple horizons that CNX Resources Corp. plans to increasingly develop in the coming years will “disrupt” the Appalachian Basin, a company executive said this month at an industry conference in Pittsburgh.
U.S. natural gas well production during 2017 climbed a staggering 35% year/year, pushed by efficiency improvements from three big shale plays, the Utica (78%), Haynesville (44%) and Marcellus (28%), according to a review by Sanford C. Bernstein & Co. LLC.
Strong performance from the company’s “base production wedge” in Ohio’s Utica Shale and new wells turned to sales in the South Central Oklahoma Oil Province (SCOOP) during the first quarter have prompted Gulfport Energy Corp. to increase its full-year production guidance, management said Wednesday.
CNX Resources Corp. reported a 184% year/year (y/y) increase in Utica Shale volumes during the first quarter, as it continues to build more of the play into its development program.
The Utica Shale and South Central Oklahoma Oil Province (SCOOP) helped Gulfport Energy Corp. increase year/year production by 52% in the first quarter.