Welcome to our dedicated page for Gulfport Energy Corporation news (Ticker: GPOR), a resource for investors and traders seeking the latest updates and insights on Gulfport Energy Corporation stock.
Gulfport Energy Corporation (GPOR) is an independent oil and natural gas exploration and production company based in Oklahoma City. The company’s principal properties are located in the Utica Shale and the Louisiana Gulf Coast. Boasting a veteran management team with expertise across multiple regions, including the salt dome structures of the U.S. Gulf Coast and the Utica Shale Basin in Ohio, Gulfport Energy is well-positioned to leverage technological advancements to maximize production efficiency.
Gulfport Energy’s strategy involves the exploration, acquisition, and production of natural gas, crude oil, and NGLs in the United States. The primary focus areas include the Utica Shale, located in the Appalachian Basin, and the Scoop (South Central Oklahoma Oil Province) play in the southeast portion of the Anadarko Basin. These regions are known for their rich deposits and significant production potential.
The company is committed to balancing its portfolio by integrating long-term value opportunities that offer substantial upside potential. Gulfport Energy employs a forward-thinking approach to meet the global demand for oil and natural gas, maintaining a bullish outlook on the industry’s future.
Recent achievements include the successful implementation of advanced drilling techniques and enhanced recovery methods, which have improved production rates and operational efficiency. Additionally, Gulfport Energy has formed strategic partnerships to bolster its market position and drive growth.
Financially, Gulfport Energy remains robust, focusing on sustainable practices and cost-effective operations to ensure long-term profitability. The company’s entrepreneurial spirit is evident in its innovative approach and dedication to maximizing shareholder value.
Gulfport Energy (NYSE: GPOR) has released its 2023-2024 Corporate Sustainability Report, highlighting significant environmental, social, and governance achievements. The company achieved an 'A' rating for Appalachia assets from MiQ and reduced Scope 1 methane intensity by 36% in 2023 compared to 2021.
Key environmental initiatives include reusing 75% of water from operations and implementing emission reduction programs. Social achievements include increasing workplace diversity to 43% and reducing incident rates by 53%. The company paid over $360 million in royalties and $34 million in production taxes.
Governance improvements include a seven-member Board with five independent directors, 60% diversity among independent directors, and increased ESG metrics in compensation structure.
Gulfport Energy (NYSE: GPOR) reported its Q3 2024 financial results, delivering total net production of 1.06 Bcfe per day, with 91% natural gas, 6% natural gas liquids, and 3% oil. The company reported a net loss of $14.0 million but generated $178.1 million in adjusted EBITDA and $72.6 million in adjusted free cash flow. Capital expenditures totaled $82.5 million, below analyst expectations. The company expanded its share repurchase authorization by 54% to $1.0 billion and reduced its 2024 drilling and completion capital guidance to $325-335 million. Oil production increased 68% over Q2 2024, reaching 4.6 MBbl per day.
Gulfport Energy (NYSE: GPOR) has announced its schedule for the release of its third quarter 2024 financial and operating results. The company plans to disclose these results on Tuesday, November 5, 2024, after the market closes. Following this, Gulfport will host a teleconference and webcast on Wednesday, November 6, 2024, starting at 9:00 a.m. ET (8:00 a.m. CT) to discuss the results.
Interested parties can access the conference call through a link on Gulfport's website, www.gulfportenergy.com, or by dialing 866-373-3408 (domestic) or 412-902-1039 (international). A replay of the conference call will be available on the company's website, and a telephone audio replay can be accessed from November 6 to November 20, 2024, using the replay passcode 13749355.
Gulfport Energy (NYSE: GPOR) announced the final results and expiration of its cash tender offer for the 8.0% Senior Notes due 2026. As of the expiration time, Gulfport Energy Operating received tenders for $524,297,331 of the outstanding Notes, representing 95.33% of the aggregate principal amount. The purchase price is set at $1,023.35 per $1,000 principal amount, plus accrued and unpaid interest. The settlement date is scheduled for September 13, 2024. Gulfport intends to use proceeds from a contemporaneous debt financing to fund the tender offer and redeem the remaining Notes by May 17, 2025.
Gulfport Energy (NYSE: GPOR) has announced the pricing terms for its cash tender offer to purchase all outstanding 8.0% Senior Notes due 2026. The purchase price is set at $1,023.35 per $1,000 principal amount of Notes. The tender offer expires at 5:00 p.m., New York City time, on September 9, 2024, unless extended or terminated earlier.
The tender offer is contingent on satisfying certain conditions, including completing a contemporaneous debt financing. Gulfport Energy Operating plans to use the proceeds from this financing to fund the tender offer and redeem any remaining Notes by May 17, 2025. J.P. Morgan Securities is serving as the exclusive Dealer Manager for the tender offer.
Gulfport Energy (NYSE: GPOR) has announced the pricing of an upsized private offering of $650 million in 6.75% Senior Notes due 2029, issued by its subsidiary Gulfport Energy Operating The notes, priced at 100% of par, are expected to close on September 13, 2024. Gulfport intends to use the proceeds to purchase its 8.0% Senior Notes due 2026 through a tender offer, redeem remaining 2026 notes, repay credit facility borrowings, and for general corporate purposes. The offering is to qualified institutional buyers and non-U.S. persons, and is not registered under the Securities Act.
Gulfport Energy (NYSE: GPOR) announced a cash tender offer for its 8.0% Senior Notes due 2026. The offer, made through its subsidiary Gulfport Energy Operating , aims to purchase any and all of the outstanding $550 million in principal amount of these notes. The purchase price will be determined based on a fixed spread over a U.S. Treasury reference security yield. The tender offer expires on September 9, 2024, at 5:00 p.m. New York City time, unless extended or terminated earlier.
The offer is contingent on satisfying certain conditions, including completing a contemporaneous debt financing. Gulfport intends to use the proceeds from this financing to fund the tender offer and potentially redeem any remaining notes by May 17, 2025, at 100% of the principal amount plus accrued interest.
Gulfport Energy (NYSE: GPOR) announced that its subsidiary, Gulfport Energy Operating , plans to offer $500 million of Senior Notes due 2029 in a private placement. The notes will be guaranteed by Gulfport and its subsidiaries. Concurrently, the company launched a tender offer to purchase all of its 8.0% Senior Notes due 2026. The proceeds from the new offering will be used to purchase the 2026 notes and potentially redeem any remaining notes by May 17, 2025. Any leftover funds may be used for general corporate purposes, including reducing credit facility borrowings or making temporary investments.
Gulfport Energy (NYSE: GPOR) reported its Q2 2024 financial results and provided an update on its 2024 development plan. Key highlights include:
- Total net production of 1,050.1 MMcfe per day
- Capital expenditures of $122.2 million, below analyst expectations
- Net loss of $26.2 million, adjusted net income of $54.0 million
- Adjusted EBITDA of $164.4 million
- Net cash from operating activities of $123.5 million
- Adjusted free cash flow of $20.2 million, above expectations
- Repurchased 160.6 thousand shares for $25.0 million
- Completed $19.0 million in discretionary acreage acquisitions
The company narrowed its 2024 net production guidance to 1,055-1,070 MMcfe per day and expects over $25 million in capital expenditure savings. Gulfport plans to allocate $45 million to targeted acreage acquisitions and substantially all 2024 adjusted free cash flow towards share repurchases.
Gulfport Energy (NYSE: GPOR) has announced its schedule for the second quarter 2024 earnings release and conference call. The company plans to release its Q2 2024 financial and operating results on Tuesday, August 6, 2024, after market close. A teleconference and webcast to discuss these results will be held on Wednesday, August 7, 2024, beginning at 9:00 a.m. ET (8:00 a.m. CT).
Investors can access the live conference call through a link on Gulfport's website or by dialing 866-373-3408 (domestic) or 412-902-1039 (international). A replay of the call will be available on the company's website and via telephone from August 7 to August 21, 2024, using the replay passcode 13747661.
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