Chesapeake Energy Corporation (CHK), Gulfport Energy Corporation (GPOR), Magnum Hunter Resources Corp (MHR): Data That Every Utica Shale Investor Needs to Know About

Companies to keep an eye on
The company that has the biggest presence in the Utica is Chesapeake Energy Corporation (NYSE:CHK) , which discovered the play in 2010. As it stands, Chesapeake remains the Utica’s largest leasehold owner, boasting approximately 1 million net acres. Though the company recently said it no longer views the Utica as central to reaching its oil production target, it obviously still has a major stake in the play.

Other lesser-known players include Gulfport Energy Corporation (NASDAQ:GPOR) and Magnum Hunter Resources Corp (NYSE:MHR). Gulfport, which boasts about 128,000 net acres in the play, owes a debt of gratitude to the Utica. Ever since it announced having drilled its first three Utica wells back in June of last year, its share price has skyrocketed by nearly 200%. Encouraged by high peak rates for its wells, the company remains highly optimistic about the Utica’s potential.

Magnum Hunter Resources Corp (NYSE:MHR), which closed on an acquisition last month that boosted its acreage position to a little over 61,000 net acres, is also bullish on the Utica’s future. Though it hasn’t drilled any wells in the Utica yet, despite entering the play in 2010, it plans to drill at least four Utica wells this year with expectations for further development based on those initial well results. It won’t have any well results listed in the DNR report next month, but the performance of its upcoming test wells will be interesting to track.

Final thoughts
When production data is revealed next month, investors would be wise to keep an eye on Chesapeake Energy Corporation (NYSE:CHK) and Gulfport Energy Corporation (NASDAQ:GPOR)’s results, as well as results for Anadarko Petroleum Corporation (NYSE:APC), Rex Energy Corporation (NASDAQ:REXX), and CONSOL Energy Inc. (NYSE:CNX), among other Utica drillers. The data should offer investors a better understanding of which zones are likely to be most productive going forward, and which companies are most aptly positioned in the play’s most lucrative regions.

The article Data That Every Utica Shale Investor Needs to Know About originally appeared on Fool.com.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy.

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