UPDATE: Gulfport Energy Shares Now Up 17%, Near Year Top on Test Results


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Gulfport Energy ( GPOR ) shares are up 16.9% at $37.08, within striking distance of the 52-week high of $37.63, but off the day's top of $37.31, after the company released test results on its Shugert 1-12H well in the Utica Shale.

The well tested at an average sustained 18 hour rate of 28.5 million cubic feet per day of natural gas, 300 barrels of condensate per day, and 2,907 barrels of natural gas liquids per day assuming full ethane recovery and a natural gas shrink of 10%, or 7,482 barrels of oil equivalent per day. GPOR expects that it will begin flowing the well into a sales pipeline by the end of January.

GPOR shares have a day's range of $32.95 - $37.31, with a 52-week low of $15.79.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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