GPOR

[dan_s]

The Utica Shale is ramping up to be the next "Hot Shale Play" in 2012. Gulfport Energy (GPOR) is planning to kick off a 20 well drilling program with the first well to spud late in December or early January. My recommendation is to accumulate GPOR on the dips.

http://seekingalpha.com/article/299563- ... urce=yahoo

[setliff]

Gulfport Energy Corporation Reports Third Quarter 2011 Results

Gulfport Energy Corp.Topics:Earnings.Related Quotes
Symbol Price Change
GPOR 30.48 0.00


Press Release Source: Gulfport Energy Corporation On Wednesday November 2, 2011, 6:00 am EDT

OKLAHOMA CITY, Nov. 2, 2011 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR - News) today reported financial and operating results for the third quarter of 2011 and provided an update on its 2011 activities.

For the third quarter of 2011, Gulfport reported net income of $29.0 million on oil and natural gas revenues of $58.0 million, or $0.57 per diluted share. EBITDA (as defined below) for the third quarter of 2011 was $44.1 million and cash flow from operating activities before changes in working capital (as defined below) was $43.7 million.

Financial Highlights

•Produced oil and natural gas sales volumes of 590,128 barrels of oil equivalent ("BOE"), or 6,414 barrels of oil equivalent per day ("BOEPD"), in the third quarter of 2011, a 12% year-over-year increase from the third quarter of 2010
•Recorded net income of $29.0 million in the third quarter of 2011, a 6% sequential increase over the second quarter of 2011 and a 129% year-over-year increase from the third quarter of 2010
•Generated $44.1 million of EBITDA in the third quarter of 2011, a 7% sequential increase from the second quarter of 2011 and an 84% year-over-year increase from the third quarter of 2010
•Reported general and administrative expense of $3.45 per BOE in the third quarter of 2011, an 8% sequential improvement as compared to the second quarter of 2011
Production

complete report here---

http://finance.yahoo.com/news/Gulfport- ... l?x=0&.v=1

[setliff]

6:13AM Gulfport Energy beats by $0.04, beats on revs (GPOR) 30.48 : Reports Q3 (Sep) earnings of $0.57 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.53; revenues rose 74.0% year/year to $58.1 mln vs the $55.62 mln consensus. Produced oil and natural gas sales volumes of 590,128 barrels of oil equivalent, or 6,414 barrels of oil equivalent per day, in the third quarter of 2011, a 12% year-over-year increase from the third quarter of 2010. Outlook: Gulfport estimates 2012 production to be in the range 3.0 million to 3.2 million BOE. Cap-ex for 2012 are estimated to be in the range of $215-225 mln. Operationally, Gulfport plans to drill twenty-two to twenty-four wells at WCBB, ten to twelve wells at Hackberry, twenty-three to twenty-five gross wells in the Permian Basin, six to seven gross wells in the Niobrara, and ~twenty gross wells in the Utica Shale. In Canada, Gulfport plans to participate in Grizzly's 2011/2012 winter drilling program and fund its portion of expenditures related to the construction of Grizzly's Algar Lake Project. In Thailand, Gulfport plans to participate in potentially drilling a confirmation well and testing other prospects on our acreage.

[setliff]

there is very heavy resistance at 33 for gpor ddue to very heavy buying at this level earlier this year. these folks are now getting their money back. april 25 and july 18 were up days at 33-34 on very high volume.

if it can get through 33 it will be off to the races imo.

[dan_s]

The Utica Shale will become a HUGE story in 2012.

Gulfport currently has approximately 125,000 gross (62,500 net) acres under lease in the Utica Shale in Eastern Ohio. During 2012, Gulfport has budgeted to spend $72 million to $76 million to drill approximately twenty gross wells in the Utica. Gulfport currently plans to begin drilling in January 2012 and plans to add a second rig in April 2012, although Gulfport is also evaluating other potential opportunities relating to its Utica acreage.

[setliff]

i haven't been listening to the cc wich began about 40 minutes ago, but something really good must have been said. 30 minutes into the call buying picked up on large volume.

[dan_s]

Based on the company's production guidance for 2012, GPOR will increase production by 30% to 35% in 2012.

> They now have 2,000 BOPD for 2012 hedged at $108/bbl

> IMO they have upside to their guidance in the Niobrara and the Utica Shale.

My Q4 EPS forecast is now 60 cents but I want to listen to the replay of their conference call before I finalize my forecast.