Gulfport: 2 more outstanding SCOOP wells

[dan_s]

As Gulfport places more SCOOP wells online, their production mix keeps improving (more liquids). These are VERY GOOD wells that increase my confidence level in my forecast/valuation model for GPOR. Gulfport is on-track to generate $1.75 to $2.00 earnings per share and $4.50 to $5.00 operating cash flow per share in 2018. - Dan

OKLAHOMA CITY, May 15, 2018 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (GPOR) (“Gulfport” or the “Company”) today provided an update on recent SCOOP well results. Key highlights include:

•Lilly 3-15X10H produced at an average 30-day production rate of 16.7 MMcfe per day, or 2,449 Mcfe per 1,000 foot of lateral.
•Lilly 4-15X10H produced at an average 30-day production rate of 13.1 MMcfe per day, or 1,782 Mcfe per 1,000 foot of lateral.

SCOOP Woodford Production 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. Based upon the composition analysis, the gas being produced is 1,157 BTU gas and yielding 43.3 barrels of natural gas liquids per MMcf of natural gas and results in a natural gas shrink of 14%. On a three-stream basis, the Lilly 3-15X10H produced at an average 30-day production rate of 16.7 MMcfe per day, or 2,449 Mcfe per 1,000 foot of lateral, which is comprised of approximately 67% natural gas, 21% NGL and 12% oil.

During its initial 30 days of production, the Lilly 4-15X10H cumulatively produced 305.4 MMcf of natural gas and 8.3 thousand barrels of oil. Based upon the composition analysis, the gas being produced is 1,157 BTU gas and yielding 43.3 barrels of NGL per MMcf of natural gas and results in a natural gas shrink of 14%. On a three-stream basis, the Lilly 4-15X10H produced at an average 30-day production rate of 13.1 MMcfe per day, or 1,782 Mcfe per 1,000 foot of lateral, which is comprised of approximately 67% natural gas, 20% NGL and 13% oil.