OKLAHOMA CITY, Sept. 19, 2017 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the “Company”) today provided an update on recent SCOOP well results. Key highlights include:
- EJ Craddock 8-28X21H produced at a 24-hour initial peak production rate of 19.7 MMcfe per day, comprised of approximately 55% natural gas, 26% oil, and 19% natural gas liquids.
Gulfport recently turned-to-sales one gross (0.65 net) Woodford well located in the wet gas window in central Grady County, Oklahoma. The EJ Craddock 8-28X21H has a stimulated lateral length of 7,961 feet and a 24-hour initial peak production rate of 12.9 MMcf per day and 857 barrels of oil per day. Based upon the composition analysis, the gas being produced is 1,171 BTU gas and yielding 47.0 barrels of NGLs per MMcf of natural gas and results in a natural gas shrink of 16%. On a three-stream basis, the EJ Craddock 8-28X21H produced at a 24-hour initial production peak rate of 19.7 MMcfe per day, which is comprised of approximately 55% natural gas, 26% oil, and 19% natural gas liquids.
Gulfport 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, a position in the Alberta Oil Sands in Canada through its approximately 25% interest in Grizzly Oil Sands ULC and has an approximately 25% equity interest in Mammoth Energy Services, Inc. (NASDAQ:TUSK). For more information, please visit www.gulfportenergy.com.