PLUGGING IN

Gulfport Energy quarter ‘outstanding’

Gulfport Energy Corp. produced an average 1.4 billion cubic feet of natural gas equivalent in the third quarter, the Oklahoma City-based producer said.

Officials said that’s 7 percent more than what it produced in the second quarter and 19 percent more than what it produced during the third quarter of 2017. The firm’s realized natural gas price for the third quarter of 2018, before the impact of derivatives and including transportation costs, averaged $2.32 per thousand cubic feet, a 58 cent differential to the average trade month NYMEX settled price.

The realized third quarter oil price before the impact of derivatives and including transportation costs averaged $68.73 per barrel, a 77 cents per barrel differential to the average West Texas Intermediate oil price.

And the realized natural gas liquids price for the third quarter of 2018 before the impact of derivatives and including transportation costs averaged 74 cents per gallon, equivalent to $31.18 per barrel.

Officials also reported Gulfport turned-to-sales 11 gross and net operated wells in the Utica Shale and 7 gross (5.4 net) operated wells in the SCOOP during the third quarter of 2018.

“The third quarter marked another outstanding operational quarter for Gulfport,” stated Michael G. Moore, the company’s chief executive officer and president.

Mammoth Energy renews line of credit

Mammoth Energy Services, Inc. recently announced it has entered into an amended and restated five-year agreement for an assets-backed $185 million line of credit.

The agreement extends to October 2023. Mammoth officials said they plan to use the credit for general corporate purposes, strategic growth initiatives and acquisitions. The deal also includes room for additional borrowing up to $165 million. Currently, Mammoth is debt free.

“We are pleased with the support of our bank group and their continued commitment to Mammoth, providing us competitive financing alternatives should we need them,” Mark Layton, Mammoth’s chief financial officer, stated.

Firm to manage sale of 67,000 acres of lease

A group of unnamed companies has retained Core Energy Advisors LLC to sell more than 67,000 net acres of largely contiguous leasehold in the Arkoma Woodford Basin, the Dallas-located firm has announced.

It said the leasehold is in McIntosh, Muskogee, Pittsburg, Haskell and Okmulgee counties and is highly prospective for the Woodford and Caney shales.

Core Energy Advisors also said the sellers control 111,485 acres, of which 47 percent is held by production.

PSO crews return home after hurricane

TULSA — A crew of 120 employees and contract workers for Public Service Co. of Oklahoma are on their way home after working two weeks to help electricity to residents in the Hurricane Michael-battered Florida Panhandle, officials said Thursday.

The group of workers from the company’s Tulsa, Lawton and McAlester districts left Oct. 9, heading to Pensacola to assist Gulf Power with its recovery efforts in that area. Officials said the workers spent most of their time rebuilding the electrical system in some of the hard-hit areas in and around Panama City.

“We are happy to have our workers returning home; grateful that they worked safely under challenging conditions; and appreciative for everything they did to help bring some sense of normalcy back to the lives of those impacted by the devastating hurricane,” said Steve Baker, PSO’s distribution region operations vice president.

“We received via social media many thank-yous and words of appreciation from people whose power we helped restore. And it is with great pride and appreciation that we, as a company, express thanks to our workers who took time away from their families to come to the aid of those in need.”

Emerging Fuels to help biofuels refinery

TULSA — Emerging Fuels Technology has announced that it has executed an agreement to provide its Fischer-Tropsch technology to Red Rock Biofuels LLC.

Officials said Red Rock, a subsidiary of the IR1 Group LLC, will use Emerging Fuels’ technology to boost the capacity of a refinery it is building in Lakeview, Oregon.

IR1, Emerging Fuels officials said, has built and operated more than 325 million gallons of biofuels production capacity and believes the Tulsa-based company’s biofuels refining system will be economic at the Oregon location.

“We are looking forward to working with Red Rock Biofuels on this project,” said Kenneth Agee, president of Emerging Fuels, who noted the sale involves a second-generation system which requires using only half as much catalyst.

Oseberg has new N.M. lease data set

Oseberg, an oil and gas industry data intelligence company, said recently it has compiled a new state and federal lease data set for oil and gas properties across the state of New Mexico.

Officials said the data draws information from 97,000 lease and instrument records.

“Oseberg’s New Mexico data set presents the most complete picture of current leasing activity in the Delaware Basin,” said Cris Byers, Oseberg’s product manager. “Combined with Oseberg’s Texas lease data, we now have full crossborder coverage in a consistent and standardized fashion for the entire Permian.”

The New Mexico lease data set is available as a stand-alone option or as an add-on to a customer’s existing subscription.