Gulfport Energy Corp. today announced its 2019 capital budget, its 2019 operational outlook and that its board of directors has approved a new stock repurchase program to acquire up to $400 million of its outstanding common stock within the next 24 months. This authorization follows closely behind the completion of the 2018 previously announced and expanded $200 million share repurchase program, which concluded in the [...]
Gulfport Energy Corp. today provided an update for the quarter and year ended December 31, 2018. Key information includes the following: Completed previously announced and expanded stock repurchase program of $200 million during 2018, including deploying $90 million during the fourth quarter of 2018, acquiring 20.7 million shares and reducing shares outstanding by over 10% in 2018. Net production for the full year of 2018 [...]
Gulfport Energy Corp. today issued the following comments from the Company’s President, Chief Executive Officer and Board member, David M. Wood: “I have received Firefly’s letter this morning, which followed dialogue we have had since my appointment to Gulfport last month regarding our mutual interest in enhancing and delivering value to all Gulfport shareholders.” Mr. Wood continued [...]
Firefly Value Partners, LP , which manages funds that, together with affiliates, collectively beneficially own 8.1% of the outstanding common stock of Gulfport Energy , today issued a public letter to the Gulfport Board of Directors . In the letter, Firefly highlights Gulfport’s lack of urgency in addressing persistent stock price underperformance; failure to commit to steps that could maximize stockholder value [...]
Gulfport Energy Corp. today announced that its Board of Directors has appointed David M. Wood, a 40-year oil and gas industry veteran, to serve as President and Chief Executive Officer, effective immediately. Mr. Wood will also join the Company’s Board of Directors. Donnie Moore, who served as Interim Chief Executive Officer during a nationwide search led by Heidrick & Struggles for a chief executive to lead [...]
Gulfport Energy Corp. today reported financial and operational results for the three-months and nine-months ended September 30, 2018 and provided an update on its 2018 activities. Key information includes the following: Net production averaged 1,427.5 MMcfe per day during the third quarter of 2018. Net income of $95.2 million, or $0.55 per diluted share, for the third quarter of 2018. Adjusted net income of $84.6 million [...]
Gulfport Energy Corp. today announced that its Board of Directors has appointed Donnie Moore to serve as Interim Chief Executive Officer, effective immediately. Donnie Moore succeeds Michael G. Moore who, effective October 29, 2018, stepped down from his position as Chief Executive Officer and President of Gulfport and resigned from the Company’s Board of Directors. Donnie Moore joined Gulfport as Chief Operating [...]
Gulfport Energy Corp. today scheduled its third quarter of 2018 financial and operational results conference call. Gulfport will hold a conference call on Friday, November 2, 2018 at 8:00 a.m. CDT to discuss its third quarter of 2018 financial and operational results and to provide an update on the Company’s recent activities. Gulfport's third quarter of 2018 earnings are scheduled to be released after the market [...]
Gulfport Energy Corp. today provided an update for the quarter and nine-months ended September 30, 2018. Key information includes the following: Net production during the third quarter of 2018 averaged 1,427.5 MMcfe per day, a 7% increase over the second quarter of 2018 and 19% increase versus the third quarter of 2017. Realized natural gas price for the third quarter of 2018, before the impact of derivatives and [...]
OKLAHOMA CITY, Aug. 01, 2018 -- Gulfport Energy Corp. today reported financial and operational results for the quarter and six months ended June 30, 2018 and provided an update on its 2018 activities. Key information includes the following: Net production averaged 1,330.3 MMcfe per day during the second quarter of 2018. Net income of $111.3 million, or $0.64 per diluted share, for the second quarter of 2018. Adjusted net [...]
OKLAHOMA CITY, July 16, 2018 -- Gulfport Energy Corp. today provided an update for the quarter and six-months ended June 30, 2018. Key information includes the following: Net production during the second quarter of 2018 averaged 1,330.3 MMcfe per day, a 3% increase over the first quarter of 2018 and 28% increase versus the second quarter of 2017. Realized natural gas price for the second quarter of 2018, before the impact [...]
OKLAHOMA CITY, June 19, 2018 -- Gulfport Energy Corp. today provided an operational update. Key information includes the following: Lilly 3-15X10H produced at an average 60-day production rate of 15.7 MMcfe per day, or 2,302 Mcfe per 1,000 foot of lateral. Lilly 4-15X10H produced at an average 60-day production rate of 12.4 MMcfe per day, or 1,694 Mcfe per 1,000 foot of lateral. North Cheyenne 3-10X3H produced at an [...]
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