gpor
Re: gpor
Gulfport’s net daily production for the second quarter of 2017 averaged approximately 1,038.4 MMcfe per day. For the second quarter of 2017, Gulfport’s net daily production mix was comprised of approximately 88% natural gas, 8% natural gas liquids and 4% oil. < This compares to my forecast of 173,000 BOE per day for Q2. Production mix is exactly what I forecast.
2017 Production and Pricing Guidance
Based on actual results during the six months ended June 30, 2017, Gulfport increases its 2017 production guidance and currently forecasts that 2017 average daily net production will be in the range of 1,065 MMcfe to 1,100 MMcfe per day, an increase of 48% to 53% over its 2016 average daily net production of 719.8 MMcfe per day.
The operations update was good. I would like more details on the SCOOP wells, but that may come out on the conference call. Increased production guidance is always good news.
Don't read anything into today's stock price action. All of the "gassers" were down because of a mild weather forecast for the first half of August. My SWAG is that natural gas storage reports will still be bullish (below the 5-year average).
Remember: Wall Street never gets too excited about natural gas until after Labor Day and when the first cold fronts move through New England.
2017 Production and Pricing Guidance
Based on actual results during the six months ended June 30, 2017, Gulfport increases its 2017 production guidance and currently forecasts that 2017 average daily net production will be in the range of 1,065 MMcfe to 1,100 MMcfe per day, an increase of 48% to 53% over its 2016 average daily net production of 719.8 MMcfe per day.
The operations update was good. I would like more details on the SCOOP wells, but that may come out on the conference call. Increased production guidance is always good news.
Don't read anything into today's stock price action. All of the "gassers" were down because of a mild weather forecast for the first half of August. My SWAG is that natural gas storage reports will still be bullish (below the 5-year average).
Remember: Wall Street never gets too excited about natural gas until after Labor Day and when the first cold fronts move through New England.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: gpor
GPOR now has ~50% YOY production growth locked in. The only minor negative that I see in the update was the realized NGL price, which has only a minor impact on my valuation. Q2 will be the low point of the year for NGL prices.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: gpor
GPOR production:
2015 Actual = 91,220 BOE per day
2016 Actual = 119,921 BOE per day
2017 Q1 Actual = 141,594 BOE per day
2017 Q2 Actual = 173,059 BOE per day (911,022 mcfpd of natural gas, 7,143 bopd, 14,079 bbls of NGLs per day)
2017 Q3 Estimate = 187,200 BOE per day
2017 Q4 Estimate = 217,000 BOE per day
Production information is available at the bottom of all of the forecast models housed on the EPG website. At the bottom of the GPOR forecast model is a table that shows Credit Suisse estimate of production for 2017 to 2019. Go to the EPG website, log on, click on the Sweet 16 tab and then click on Gulfport's logo.
2015 Actual = 91,220 BOE per day
2016 Actual = 119,921 BOE per day
2017 Q1 Actual = 141,594 BOE per day
2017 Q2 Actual = 173,059 BOE per day (911,022 mcfpd of natural gas, 7,143 bopd, 14,079 bbls of NGLs per day)
2017 Q3 Estimate = 187,200 BOE per day
2017 Q4 Estimate = 217,000 BOE per day
Production information is available at the bottom of all of the forecast models housed on the EPG website. At the bottom of the GPOR forecast model is a table that shows Credit Suisse estimate of production for 2017 to 2019. Go to the EPG website, log on, click on the Sweet 16 tab and then click on Gulfport's logo.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group