Current GPOR Stock Info

Expects to fund all $780 million CapEx within cash flow in 2018

Gulfport Energy Corporation (ticker: GPOR) provided an update on two notable SCOOP well results.

During its initial 30 days of production, the Lilly 3-15X10H cumulatively produced 395.5 MMcf of natural gas and 9.6 thousand barrels of oil.

On a three-stream basis, the Lilly 3-15X10H produced at an average 30-day production rate of 16.7 MMcfe/d, or 2,449 Mcfe per 1,000 foot of lateral, comprised of approximately 67% natural gas, 21% NGL and 12% oil.

The Lilly 4-15X10H cumulatively produced 305.4 MMcf of natural gas and 8.3 thousand barrels of oil during its initial 30 days of production.

Also on a three-stream basis, the Lilly 4-15X10H produced at an average 30-day production rate of 13.1 MMcfe/d, or 1,782 Mcfe per 1,000 foot of lateral, comprised of 67% natural gas, 20% NGL and 13% oil.

Q1 2018 results

Gulfport produced about 1.29 Bcfe/d in Q1 2018, comprised of 88% natural gas, 8% NGL and 4% oil. This performance led Gulfport to increase its full-year guidance to roughly 1,325 MMcfe/d, up from a previous estimate of 1,275 MMcfe/d.

The company had a net income of $90.1 million, or $0.50 per share for the first quarter of 2018. Gulfport does not plan to increase its CapEx spending from previous estimates, but all $780 million will be funded within cash flow.


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