Gulfport Energy Corporation (GPOR) has core acreage in the southern part of the Utica shale, one of the U.S. unconventional resources which has evolved, and the company is becoming the core Utica proxy for the market at this point, says Cameron Horwitz, Director of Exploration and Production at U.S. Capital Advisors LLC.
“The initial productivity of that play looks phenomenal. I think there are still a lot of questions as to what are the ultimate recovery, ultimate reserves, ultimate economics of that play, but at first glance and making some reasonable assumptions, we think that’s going to be a highly economic area, and an area where we’ll continue to see ramp-up in activity, delineation and M&A activity,” Horwitz said.
Horwitz says he likes Gulport Energy‘s evolution in the Utica shale. He says the company encountered some struggles along the way of developing this resource, but he says the company’s involvement in the southern part of the shale has brought new life to the company, and he adds that the Utica is one of the key areas to watch very closely in 2013.
“One of the areas for 2013 we’ll continue to watch very closely, and I think could continue to surprise to the upside, is the Utica. That’s a play that has now started to evolve. It came out of the gate strong, sputtered with some of the initial results and then has really been reinvigorated, principally by what Gulfport has done in the southern half of the play,” Horwitz said. “ Gulfport is a name that we like.”