Market Overview

Gulfport Energy Soars on Utica Shale Results

Shares of Gulfport Energy (NASDAQ: GPOR) soared on Wednesday after the company reported strong test results on its Shugert 1-12H well in the Utica Shale and announced its first sales through MarkWest Energy Partners, L.P. (NYSE: MWE) Harrison County gas processing complex. The stock added more than 16 percent with most of the gains coming on an intra-day basis.

Gulfport shares are now sitting near new 52-week high levels just below $37.00. The stock has climbed more than 25 percent in 2012. Gulfport is a mid-cap independent oil and natural gas exploration and production company.

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