Gulfport plans production increase driven by Utica Shale development
Monday, March 6, 2023
Gulfport Energy Corp. plans to increase production by about 2-6% to net production of 1.00-1.04 bcfed this year, driven by its Utica Shale development plan, according to Oil & Gas Journal.
The company expects 22-24 gross wells turned to sales in 2023, including two wells in the Marcellus Shale, two wells in the SCOOP and the remaining wells in the Utica Shale.
Additionally, Gulfport hopes a delineation test in Belmont County, Ohio will unlock inventory underlying the company’s current acreage position in the Marcellus Shale.
Learn more: Oil & Gas Journal > Gulfport plans 2-6% net production increase in 2023
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.