Gulfport Energy Corporation - GPOR STOCK NEWS

Gulfport Energy Corporation (NYSE: GPOR) reported financial and operational results for Q1 2023. The company delivered total net production of 1,057.4 MMcfe per day, above analyst consensus expectations. It reported $523.1 million of net income and $229.7 million of adjusted EBITDA, also above expectations. Gulfport reduced total debt by $145.0 million and had no borrowings under the revolving credit facility as of March 31, 2023. The company repurchased shares and completed the spring borrowing base redetermination of the revolving credit facility. It reaffirmed its 2023 guidance and provided an operational update.

Gulfport Energy Corporation (NYSE: GPOR) will host a teleconference and webcast to discuss its first quarter 2023 results on May 3, 2023, at 9:00 a.m. ET. The company plans to release its financial results the previous day, May 2, 2023, after market close. Interested parties can access the live conference call via the Gulfport website or by dialing appropriate numbers for domestic or international participation. A replay will be available from May 4 to May 18, 2023.

Gulfport operates as an independent natural gas-weighted exploration and production company, primarily focusing on the Appalachia and Anadarko basins. Their key properties are situated in eastern Ohio and central Oklahoma, targeting the Utica formation and the SCOOP Woodford and Springer formations.

Gulfport Energy Corporation (NYSE: GPOR) announced the appointment of Michael Hodges as Executive Vice President and Chief Financial Officer, effective April 3, 2023, succeeding Bill Buese, who will remain as an advisor until May 3, 2023. Hodges brings over 20 years of financial leadership in the oil and gas sector, most recently serving as Senior Vice President at Leon Capital Group. Additionally, Matthew Rucker joined as Senior Vice President, Operations on March 1, 2023, with a strong background in operational leadership. CEO John Reinhart expressed confidence in Hodges' ability to enhance the company's strategic direction and long-term shareholder value.

Gulfport Energy Corporation (GPOR) reported strong financial results for Q4 and full year 2022, with net production averaging 1,051.6 MMcfe per day and net income of $748.6 million. The company generated $188.0 million in net cash from operations and increased its stock repurchase program from $300 million to $400 million. For 2023, Gulfport expects production between 1,000 and 1,040 MMcfe per day and plans capital expenditures of $450 million. The company also reported a 4% increase in proved reserves to 4.0 Tcfe, with discounted future cash flows of $8.3 billion. Key operating costs are anticipated to decrease by 7% compared to 2022.

Gulfport Energy Corporation (NYSE: GPOR) will host a teleconference and webcast on March 1, 2023 at 9:00 a.m. ET to discuss its fourth quarter and full year 2022 results along with a 2023 outlook. The company plans to release its 2022 financial results on February 28, 2023, after market close. Investors can access the call through the Gulfport website or by dialing 866-373-3408 domestically, with a replay available until March 15, 2023. Gulfport focuses on natural gas exploration and production in the U.S., particularly in the Appalachia and Anadarko basins.

Gulfport Energy Corporation (NYSE: GPOR) has announced the appointment of John Reinhart as President, Chief Executive Officer, and Director, effective January 24, 2023. He succeeds Tim Cutt, who remains as Chairman of the Board. Cutt praised Reinhart's track record in operational excellence and leadership. Reinhart brings over two decades of experience in the oil and gas industry, previously serving as CEO of Montage Resources and Blue Ridge Mountain Resources. Gulfport focuses on natural gas exploration and production, primarily in the Appalachian and Anadarko basins.

Gulfport Energy Corporation (GPOR) reported a net production of 914.9 MMcfe per day for Q3 2022, with a net loss of $18.5 million and adjusted EBITDA of $172.7 million. The company reaffirmed a borrowing base of $1.0 billion and returned approximately $232.8 million to shareholders via repurchases. A top hole drilling rig will enhance efficiency in its 2023 development plan, with updated free cash flow guidance of $300 million for 2022. Gulfport expects a production increase of over 15% in Q4 2022, while maintaining a commitment to low-carbon energy production.

Gulfport Energy Corporation (NYSE: GPOR) will hold a teleconference and webcast on November 2, 2022, at 9:30 a.m. ET to discuss its third quarter 2022 results. A news release detailing its financial and operational performance will be issued after the market close on November 1, 2022. Investors can access the conference call via the Gulfport website or by dialing 866-373-3408 domestically. An audio replay will be available from November 3 to November 17, 2022.