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Stock Market & Financial Investment News

News Breaks
November 27, 2012
19:17 EDTGPOR, MWEGulfport, MarkWest venture commences operation at OH gas processing complex
MarkWest Utica EMG., a joint venture between MarkWest Energy Partners (MWE) and The Energy and Minerals Group, together with Gulfport (GPOR) have commenced operations of the interim 60 MMCF per day Cadiz refrigeration plant in Harrison County, Ohio. This facility is supported by production from Gulfport's Wagner 1-28H well and Boy Scout 1-33H well. MarkWest Utica is constructing a 125 MMcf/d cryogenic processing plant, Cadiz I, which is expected to be completed by 1Q13. An additional 200 MMcf/d cryogenic plant, Cadiz II, is planned to be operational by 3Q13 to support Gulfport's rapidly growing liquids-rich production from the Utica Shale. By the beginning of 2014, MarkWest Utica is expected to construct up to 140 miles of gathering pipeline and associated compression for Gulfport's planned drilling program of 50 gross wells in 2013. Together these facilities will represent the largest fractionation and marketing complex in the Utica Shale, providing 100,000 barrels per day of C2+ fractionation capacity with an expected completion date in 1Q14.
News For GPOR;MWE From The Last 14 Days
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April 16, 2014
08:09 EDTGPORGulfport Energy price target raised to $100 from $85 at Wunderlich
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April 15, 2014
07:22 EDTGPORGlobal Hunter Securities to hold a conference
1:1 Dallas Energy Day is being held in Dallas on April 15.
April 9, 2014
07:07 EDTGPORGulfport Energy sees Q1 production averaged 27,100 BOEPD ex-items
Gulfport (GPOR) currently estimates that Q1 production averaged approximately 27,100 barrels of oil equivalent per day, which excludes approximately 900 BOEPD during Q1 attributable to the previously announced acquisition of Rhino Resources (RNO) interests in the Utica Shale. The production mix for Q1 was approximately 48% oil and natural gas liquids and 52% natural gas. Proforma of the Rhino transaction, Gulfport estimates that Q1 production averaged approximately 28K BOEPD. In the Canadian Oil Sands, Grizzly Oil Sands, in which Gulfport owns a 24.9% interest, achieved first bitumen production at its first SAGD facility at Algar Lake during Q1. Grizzly currently has seven of the ten well pairs on full steam circulation and expects to have all ten well pairs on full circulation in the coming month. During March, Algar Lake production averaged approximately 30 barrels of bitumen per day. Grizzly continues to see the production ramp as expected during steam circulation. Grizzly's Windell rail transloading facility at Conklin, Alberta commenced operations during Q1 and the first load of dilbit from Algar Lake was hauled by truck to the Windell terminal for sales to the U.S. Gulf Coast market. In connection with the spring redetermination of Gulfport's revolving credit facility, the Bank of Nova Scotia (BNS) has provided a commitment letter that increases Gulfport's borrowing base from $150M-$275M, subject to the approval of the additional banks within the syndicate.

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