Gulfport Energy expands Utica inventory with $83.0 million Ohio acreage
Gulfport Energy Corporation expanded its Utica inventory by acquiring 4,700 net undeveloped acres in Belmont County, Ohio, for $83.0 million. The deal, secured through the Ohio Oil and Gas Land Management Commission State Land Lease Sale, adds 16 high-return net locations with development starting in 2027.
*this image is generated using AI for illustrative purposes only.
Gulfport Energy Corporation has expanded its core Utica inventory by acquiring approximately 4,700 net undeveloped acres in Belmont County, Ohio, for a total purchase price of approximately $83.0 million. The transaction, finalized through the Ohio Oil and Gas Land Management Commission State Land Lease Sale, secures a large, contiguous block of acreage adjacent to existing operations. This strategic addition is expected to drive development efficiency and maximize the utilization of existing infrastructure and midstream capacity.
The acquired acreage is located in the highly productive, liquids-rich Utica wet gas window, representing a top-tier area of Gulfport’s holdings. The company anticipates adding approximately 16 net locations, normalized to 15,000’ laterals, concentrated in the highest-return tier of its development opportunities. Development on these sites is expected to commence in 2027, with forecasted returns projected at the top end of the portfolio.
Acquisition Details
The total purchase price of approximately $83.0 million equates to approximately $17,500 per net acre or $5.1 million per net location. The acquisition was funded through cash on hand and available capacity under Gulfport’s revolving credit facility, underscoring the company's strong financial position.
| Metric | Value |
|---|---|
| Total Purchase Price | Approximately $83.0 million |
| Net Undeveloped Acres | Approximately 4,700 acres |
| Net Locations Added | Approximately 16 locations |
| Cost Per Net Acre | Approximately $17,500 |
| Cost Per Net Location | Approximately $5.1 million |
Strategic Outlook
Nick Dell’Osso, President and Chief Executive Officer of Gulfport, highlighted the strategic value of the investment, stating that the acreage lies in the fairway of the liquids-rich Utica wet gas window. He emphasized that the addition extends the company's liquids runway while enhancing the depth and flexibility of its development program across commodity cycles. Dell’Osso further noted that the strong balance sheet enables the execution of this acquisition while maintaining financial strength to deliver durable, long-term returns for shareholders.
How will the 2027 development timeline for these new locations be affected by potential shifts in commodity prices or regulatory changes?
What additional infrastructure or midstream investments might be required to support the increased production from these new sites?
Could this acquisition signal a broader strategy by Gulfport to further expand its Utica holdings in the near future?
16
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
