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December 17, 2012
16:51 EDTGPORGulfport Energy provides operational update
Grizzly Oil Sands ULC, a company in which Gulfport (GPOR) holds an approximate 25% interest, announced that it has submitted a resource application to the Alberta Energy Resources Conservation Board for the development of a 12,000 barrel per day oil sands project at Thickwood. Grizzly's Thickwood Thermal project is expected to produce 12,000 bpd of bitumen for up to 40 years utilizing both steam-assisted gravity drainage and cyclic steam stimulation recovery technologies. The project will consist of: a plant site consisting of two 6,000 bpd central processing facilities; four SAGD well pads (split pads) and up to 33 CSS well pads; and associated facilities and infrastructure. Following approval, which is expected within 12-18 months of application submission, Grizzly anticipates the period leading up to first production to be approximately 18 months.
News For GPOR From The Last 14 Days
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October 8, 2015
08:11 EDTGPORGulfport Energy announces Utica Shale midstream JV with Rice Energy
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08:03 EDTGPORGulfport Energy and Rice Energy form Utica Shale midstream joint venture
Gulfport Energy (GPOR) has executed a Letter of Intent with Rice Midstream Holdings, a wholly owned subsidiary of Rice Energy (RICE), to form a midstream joint venture to develop natural gas gathering and water services assets to support Gulfport's dry gas Utica Shale development in eastern Belmont County and Monroe County, Ohio. The JV will be supported by long-term, fee-based service agreements with Gulfport. Gulfport will own 25% of the JV and Rice will own the remaining 75% of the JV. Rice will be responsible for constructing and operating the JV's assets. Gulfport and Rice plan to invest approximately $520M to develop gathering and compression assets and $120Mfor water assets within the JV over the next six years. Initial construction of the system is expected to begin immediately and first deliveries are planned for the middle of 2016. Gulfport will have the right to participate on a proportionate basis in any direct or indirect sale transactions by Rice, which includes potential drop down transactions with Rice Midstream Partners LP.

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