Dominion Resources, Inc. (D), MarkWest Energy Partners LP (MWE): Will 2013 Be the Year of the Utica Shale?

Chesapeake might be the biggest producer in the play, but Gulfport Energy Corporation (NASDAQ:GPOR) might turn out to be its best. The company, which has called the Utica “one of the most promising up-and-coming oil-levered plays in North America,” is putting its money where its mouth is. It recently spent $220 million to acquire 22,000 acres in the play, which is a lot of money for a company with a sub-$3 billion market cap. The company actually raised equity capital to pay for the newly acquired acres, which I’d deem as a big stamp of approval in the play for the company. Gulfport is investing so heavily because it’s putting up some of the best production numbers, as it appears to have found some of the sweetest spots in the play.

My Foolish take
I admit a regional bias when I write about the Utica and the Marcellus. Living in the region, I have to root for the home team. However, the numbers being put up are very compelling, and it’s no secret that the region is closer to the heaviest population centers, meaning today’s transportation bottlenecks are tomorrow’s strategic competitive advantages. The increased processing and takeaway capacity coming online will make it much easier to grow production in the year ahead. While the story here is still in its infancy, you just might begin to hear about the Utica in the same breath as the Bakken and Eagle Ford before the end of the year.

The article Will 2013 Be the Year of the Utica Shale? originally appeared on Fool.com.

Fool contributor Matt DiLallo owns shares of Enterprise Products Partners. The Motley Fool recommends Dominion Resources (NYSE:D) and Enterprise Products Partners and has options on Chesapeake Energy.

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