Gulfport Energy (GPOR)

[dan_s]

GPOR Q1 results hit my forecast on the nose. They remain on-track for 95% year-over-year production growth. Stifel morning report rates GPOR a BUY with a $70 price target. My valuation is $68.75. GPOR is a "gasser", so it has a lot more upside if my forecast of higher gas prices in 2016 comes to pass. - Dan

Gulfport Energy Corporation (GPOR) ("Gulfport" or the "Company") today reported financial and operational results for the quarter ended March 31, 2015 and provided an update on its 2015 activities. Key information is as follows:
• First quarter of 2015 net production averaged 424.4 MMcfe per day, an increase of 161% compared to the first quarter of 2014 and an increase of 11% as compared to the fourth quarter of 2014.
• Estimated April 2015 net production averaged 437 MMcfe per day, a 3% increase over the first quarter of 2015.
• First quarter of 2015 realized natural gas price before the impact of derivatives and including transportation costs averaged $2.77 per Mcf, a $0.21 per Mcf negative differential to NYMEX.
• Net income of $25.5 million, or $0.30 per diluted share, for the first quarter of 2015.
• Adjusted net loss (as defined below) of $7.2 million, or $0.08 per diluted share, for the first quarter of 2015.
• Adjusted EBITDA (as defined below) of $87.6 million for the first quarter of 2015.
• Reaffirmed 2015 full-year production guidance of 432 MMcfe per day to 480 MMcfe per day and 2015 exploration and production capital expenditure guidance of $561 to $611 million.

[jb2257]

I wish the stock was acting better.

[dan_s]

We all wish our stocks would go up each day, but there is "market risk" at play here. Plus, on the surface, first quarter results look bad for all of these companies.

[jb2257]

Have you had a chance to review the results on SN? They missed their estimates but did increase the guidance for 2015.

[dan_s]

Not yet. I will look at SN this afternoon.

Drinking from the fire hose these days.