Gulfport Surprises to the Upside on 3Q Production
Gulfport delivered production of 1,428 mmcfe/d in the third quarter, which was 7% higher sequentially and 19% higher year over year. This was enough to justify raising the full-year forecast to 1,360-1,370 mmcfe/d (up 3% at the midpoint). However, the company still plans to hit the previously announced range for capital spending, and that seems like a reasonable assumption given that the company has very little activity planned for the fourth quarter. It has already released all remaining Utica ...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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