Disappointing Price Realizations Offset Robust Volumes for Gulfport in Third Quarter
Gulfport delivered production of 734.1 mmcfe/d in the third quarter (86% natural gas). That's 14% higher sequentially and well above the previously guided range of 685-705 mmcfe/d. But weaker-than-expected natural gas prices offset higher volumes, so the firm’s financial results were only slightly better than expected. Adjusted EBITDA and earnings per share were $95 million and $0.16, respectively, relative to consensus’ estimates of $94 million and $0.26. Before derivatives the firm's realized ...Gulfport Energy is an oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of natural gas, crude oil and natural gas liquids. The company's principal properties are located in the Utica Shale primarily in Eastern Ohio and the SCOOP Woodford and SCOOP Springer plays in Oklahoma. In addition, among other interests, the company holds an acreage position along the Louisiana Gulf Coast in the West Cote Blanche Bay and Hackberry fields, an acreage position in the Alberta oil sands in Canada through its interest in Grizzly Oil Sands ULC and an equity interest in Mammoth Energy Services, Inc., an oil field services company.
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