Utica

[ted3584]

During the past two weeks GPOR has jumped 31%. This is the result of their conference call which included several positive updates including Thailand, LA, Permian, Niobrara and Utica. Oil from the Utica in Ohio is being compared to the EF oil window. Consol is drilling a Utica oil well and is up 14% in the past two weeks. Range has a Utica gas well in PA and is up 17% in the past two weeks. CHK may have 1 million acres prospective for the Utica and has an oil well according to GPOR. GPOR's successful offering and performance may be the result of Thailand or the Utica or more likely both. We ought to develop a Utica Watch List. Any new names would be appreciated.

[dan_s]

The Sweet 16 was up over 7% in the last two weeks so part of GPOR's move is Wall Street just gaining more confidence that higher oil prices are here to stay for awhile. GPOR is heavily weighted to oil.

What GPOR has in Thailand could be HUGE. I think that is the primary driver plus they are currently selling 85% of their oil into the Gulf Coast market, getting a $15/bbl premium to WTI.

GPOR won't be drilling much in the Utica Shale until next year.
They plan to let others prove it up.

Read my comments in the "Sweet 16 Detailed Update" that comes out tomorrow for more on GPOR.

[GeraldR]

EVEP has a bunch of Utica acreage all HBP (held by production). CHK and others are actively making deals with them to drill it.

[dan_s]

EVEP is one of our Top Picks on our MLP Watch List.

[ted3584]

EVEP has been a great stock. Did they buy their acreage from Range? Take a look at MHR. In 2009 MHR bought Triad. Triad's acreage is in both Ohio and West VA with Marcellus exposure.Take a look at the GPOR map of the Utica and then compare the Triad acreage.The MHR ( Triad ) acreage is just south of the Consol successful vertical well. MHR's acreage falls within the gas, liquids, and oil windows as mapped by GPOR. It may be years before MHR drills the Utica, but with good CHK news they may speed the process up. It was only a year ago that EOG drilled the Jake.

[dan_s]

MHR is on our Watch List and we are going to work up a company profile / forecast on it soon.

Check the Watch List tab on a regular basis.