Gulfport now plans to become a major player in the Utica Shale. To date, Gulfport has closed on leasehold interests in approximately 60,000 gross (30,000 net) acres. Gulfport currently has signed commitments which will increase its position in the Utica Shale to approximately 115,000 gross (57,500 net) leasehold acres. Gulfport is also currently evaluating additional acquisitions in the Utica Shale that could potentially increase its commitments to approximately 130,000 gross (65,000 net) leasehold acres in the coming months. Gulfport will serve as operator of its acreage in the Utica Shale and currently plans to bring a rig into the play in early 2012 to begin drilling its acreage.
The company believes that most of their acreage is rich in liquids.