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Successes in Ohio Utica Wells Lead to Continued Growth in 2014

The Akron Beacon Journal reports that Gulfport  Energy Corp. of Oklahoma and Chesapeake Energy Corp. are producing increasing amounts of natural gas from Utica wells in Ohio and anticipate continued growth in 2014.  Gulfport’s operations are led by its Irons 1-H well located in Belmont County; this well is producing over 30.3 million cubic feet of natural gas per day (making it the No. 2 best-producing well in Ohio).  Chesapeake’s wells are averaging 164 million cubic feet of natural gas equivalent per day, making it the leading player in Ohio’s Utica Shale.  Both companies intend to continue drilling in Ohio.  Chesapeake’s Chief Executive Officer, Doug Lawler, stated that he “anticipate[s] our growth [in 2014] will be led by an increase in oil production from the Eagle Ford shale and an increase in natural gas and natural gas liquids from the Utica and Marcellus shales, which will benefit from new gas processing and pipeline takeaway capacity.”  Gulfport officials have stated that the energy company anticipates spending up to $250 million on additional drilling leases in eastern Ohio in 2014.