Gulfport Energy Soars on Utica Shale Results

Shares of Gulfport Energy

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.

Harrison County gas processing complex. In the final hour of trade, the stock had 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.