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Utica, SCOOP Operator's 2017 Budget Skyrockets 120% to $1.1 Billion
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Gulfport Energy has detailed its 2017 capital budget.
Key Points: 2017 capex of $1.0-1.1 billion (up +121% from $475 million spent in 2016) 2017 average daily net production of 1,045 MMcfe to 1,100 MMcfe/d, up between +45% to 53% over its 2016 Rig / Well Plans:Gulfport plans to drill 106-118 gross wells and expects 89-99 gross completions
Utica: Six rigs running :: Drill 87-97 gross wells / 72-80 gross completions SCOOP: Four rigs running :: Drill 19-21 gross wells / 17-19 gross completions 2017 Capex and Production GuidanceFor 2017, Gulfport estimates total capital expenditures will be in the range of $1.0 billion to $1.1 billion. The 2017 budget includes approximately $845 million to $915 million for drilling and completion activities, $50 million to $60 million for midstream…
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