Gulfport Energy Corp. (ticker: GPOR) has announced 2014 exit rate net production of approximately 68 MBOEPD (73% gas weighted), according to the company’s release. During the month of December 2014, Gulfport estimates average net production of approximately 66 MBOEPD. For the fourth quarter 2014, Gulfport currently estimates total net production was approximately 5,500 MBOE.
Michael G. Moore, Gulfport’s CEO and President, commented, “Gulfport achieved total production of approximately 5.5 million BOE during the fourth quarter of 2014, which exceeds our total production for full-year 2013 and is an increase of 41% over the third quarter of 2014.”
The exit rate represents respective increases of 18% and 13% compared to volumes in October and early November, according to its Q3’14 conference call.
The company’s production is 64% gas weighted with a debt to market cap ratio of 17% – well below the industry median of 78%. Guidance for 2015 will be released in conjunction with its fiscal 2014 results in late February 2015.
Read: http://www.oilandgas360.com/gulfport-en ... 3-26401157
Gulfport Energy (GPOR)
Gulfport Energy (GPOR)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group