DOWNGRADE: Gulfport Energy (GPOR) downgraded by Stifel Nicolaus from Buy to Hold. 12/07 07:23 AM
gpor
Re: gpor
If Gulfport keeps completing high rate wells in the Utica Shale, it should go a lot higher. If you are not familiar with GPOR you should read our profile and take a hard look at what they have going up in Canada. I do not think any of their Canadian oil potential is price into this stock.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: gpor
complete story here--
http://finance.yahoo.com/news/gulfport- ... 49767.html
Gulfport Energy Announces Proposed Acquisition of Additional Utica Acreage and Provides Operational Update
Press Release: Gulfport Energy Corporation .
OKLAHOMA CITY, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (GPOR) today announced its proposed acquisition of additional working interests in the Utica Shale and provided an operational update.
Utica Shale
Gulfport has entered into a definitive agreement to purchase approximately 30,000 net acres in the Utica Shale in Eastern Ohio from Windsor Ohio LLC, an affiliate of Wexford Capital LP, for approximately $300 million, increasing Gulfport's leasehold interests in the Utica Shale to approximately 137,000 gross (99,000 net) acres. The transaction excludes 14 existing wells, along with certain acreage surrounding each well. The proposed transaction, which is expected to close prior to year-end, will increase Gulfport's working interest in the acreage to 72.5%. Gulfport will continue to serve as operator of its acreage in the Utica Shale. The transaction was approved by a special committee of Gulfport's Board of Directors. Tudor Pickering Holt & Co acted as advisor to the special committee.
http://finance.yahoo.com/news/gulfport- ... 49767.html
Gulfport Energy Announces Proposed Acquisition of Additional Utica Acreage and Provides Operational Update
Press Release: Gulfport Energy Corporation .
OKLAHOMA CITY, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (GPOR) today announced its proposed acquisition of additional working interests in the Utica Shale and provided an operational update.
Utica Shale
Gulfport has entered into a definitive agreement to purchase approximately 30,000 net acres in the Utica Shale in Eastern Ohio from Windsor Ohio LLC, an affiliate of Wexford Capital LP, for approximately $300 million, increasing Gulfport's leasehold interests in the Utica Shale to approximately 137,000 gross (99,000 net) acres. The transaction excludes 14 existing wells, along with certain acreage surrounding each well. The proposed transaction, which is expected to close prior to year-end, will increase Gulfport's working interest in the acreage to 72.5%. Gulfport will continue to serve as operator of its acreage in the Utica Shale. The transaction was approved by a special committee of Gulfport's Board of Directors. Tudor Pickering Holt & Co acted as advisor to the special committee.
Re: gpor
well, ya gotta pay the fidler-----
http://finance.yahoo.com/news/gulfport- ... 02899.html
Gulfport Energy Corporation Launches Common Stock Offering
Press Release: Gulfport Energy Corporation –
OKLAHOMA CITY, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (GPOR) today announced the commencement of an underwritten public offering of 9,000,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 1,350,000 shares from Gulfport solely to cover over-allotments. Gulfport intends to use the net proceeds from this offering, together with the net proceeds from a possible private placement of high yield notes, to fund its previously announced pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with Gulfport's 2013 drilling programs.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager in the offering. Copies of the preliminary prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov, or by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, at One Madison Avenue, New York, New York 10010, or by telephone at (800) 221-1037.
The common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.
http://finance.yahoo.com/news/gulfport- ... 02899.html
Gulfport Energy Corporation Launches Common Stock Offering
Press Release: Gulfport Energy Corporation –
OKLAHOMA CITY, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (GPOR) today announced the commencement of an underwritten public offering of 9,000,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 1,350,000 shares from Gulfport solely to cover over-allotments. Gulfport intends to use the net proceeds from this offering, together with the net proceeds from a possible private placement of high yield notes, to fund its previously announced pending acquisition of oil and gas assets in the Utica Shale in Ohio and for general corporate purposes, which may include expenditures associated with Gulfport's 2013 drilling programs.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager in the offering. Copies of the preliminary prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov, or by contacting Credit Suisse Securities (USA) LLC, Prospectus Department, at One Madison Avenue, New York, New York 10010, or by telephone at (800) 221-1037.
The common stock will be issued and sold pursuant to an effective automatic shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This offering may only be made by means of a prospectus supplement and related base prospectus.
Re: gpor
from http://seekingalpha.com/article/1072631 ... urce=yahoo ---------
"We were impressed yesterday with the price action in Gulfport Energy (GPOR) which after opening lower for the day moved strongly higher. The stock hit another fresh 52-week high, all-time high and managed to break above $40/share before selling off into the close for a minimal gain. The company has had many good days recently, but this one may have been the most impressive as the stock was reacting to news that the company would be issuing shares to pay for the $300 million land acquisition they announced the night before. Also yesterday the company announced that they would be adding $50 million in notes to a previously announced debt offering and S&P announced that this would not affect their overall rating (see S&P statement here).
Breaking this morning is that the company announced the pricing on the offering at $38/share while upping the 9 million share figure to 11 million shares and also increasing the overallotment from 1.35 million shares to 1.65 million shares. The offering should close on December 24th and raise about $400 million. See this morning's release here."
"We were impressed yesterday with the price action in Gulfport Energy (GPOR) which after opening lower for the day moved strongly higher. The stock hit another fresh 52-week high, all-time high and managed to break above $40/share before selling off into the close for a minimal gain. The company has had many good days recently, but this one may have been the most impressive as the stock was reacting to news that the company would be issuing shares to pay for the $300 million land acquisition they announced the night before. Also yesterday the company announced that they would be adding $50 million in notes to a previously announced debt offering and S&P announced that this would not affect their overall rating (see S&P statement here).
Breaking this morning is that the company announced the pricing on the offering at $38/share while upping the 9 million share figure to 11 million shares and also increasing the overallotment from 1.35 million shares to 1.65 million shares. The offering should close on December 24th and raise about $400 million. See this morning's release here."
Re: gpor
This year and next, Gulfport will be all about their success in the Utica Shale. Production should be ramping up very quickly as they go from under 8,000 boepd to over 30,000 boepd by year-end 2013. This will draw a lot of new investors and fund managers to this one. The company's stake in the Canadian Oil Sands give it long-term value. Grizzly may add up to a billion boe of long-term recoverable oil. Yes, it does have value. - Dan
OKLAHOMA CITY (AP) -- Gulfport Energy Corp. said Thursday that it will increase its working interests in the Utica Shale.
The oil and gas production company said earlier this month that it will buy about 30,000 acres in the Utica Shale in eastern Ohio for $302 million. The company will also buy an additional 7,000 acres for around $70 million.
The deal is expected to close before the end of the year. As a result of the deal, Gulfport Energy now expects production in a range of 7.6 million to 7.9 million barrel of oil equivalents for 2013.
OKLAHOMA CITY (AP) -- Gulfport Energy Corp. said Thursday that it will increase its working interests in the Utica Shale.
The oil and gas production company said earlier this month that it will buy about 30,000 acres in the Utica Shale in eastern Ohio for $302 million. The company will also buy an additional 7,000 acres for around $70 million.
The deal is expected to close before the end of the year. As a result of the deal, Gulfport Energy now expects production in a range of 7.6 million to 7.9 million barrel of oil equivalents for 2013.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: gpor
Gulfport's Canadian Oil Sands Projects:
Algar Lake should be on-line by June, 2013 producing about 5,000 bopd. It is expected to ramp up to over 11,000 bopd by the end of 2014.
GPOR management announced that its Canadian oil sands partner, Grizzly, filed an application to develop the 12,000 bopd Thickwood Thermal Project. Thickwood is about 58 miles northwest of Ft. McMurray and near an established SAGD production facility at Southern Pacific McKay. The approval process is expected to take 12 to 18 months with first production possible 18 months after receipt of approval.
May River, acquired from PetroBank, is in the planning/design phase. This project is expected to eventually produce 70,000 bopd. First production should be in 2015. Could ramp up to 70,000 bopd within three years of start-up.
GPOR estimated "Contingent Resource" (eventually recoverable oil if SAGD works on their lands) is over 700 million bbls of oil net to Gulfport.
IMHO all of the above is definitely worth a lot of money to someone. There are a lot of majors heavily invested in the Canadian Oil Sands. Gizzly has a very nice acreage position with several projects nearing production.
Algar Lake should be on-line by June, 2013 producing about 5,000 bopd. It is expected to ramp up to over 11,000 bopd by the end of 2014.
GPOR management announced that its Canadian oil sands partner, Grizzly, filed an application to develop the 12,000 bopd Thickwood Thermal Project. Thickwood is about 58 miles northwest of Ft. McMurray and near an established SAGD production facility at Southern Pacific McKay. The approval process is expected to take 12 to 18 months with first production possible 18 months after receipt of approval.
May River, acquired from PetroBank, is in the planning/design phase. This project is expected to eventually produce 70,000 bopd. First production should be in 2015. Could ramp up to 70,000 bopd within three years of start-up.
GPOR estimated "Contingent Resource" (eventually recoverable oil if SAGD works on their lands) is over 700 million bbls of oil net to Gulfport.
IMHO all of the above is definitely worth a lot of money to someone. There are a lot of majors heavily invested in the Canadian Oil Sands. Gizzly has a very nice acreage position with several projects nearing production.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group