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Gulfport Energy -1.5% on Q4 earnings miss, buys Utica assets for $185M

  • Gulfport Energy (GPOR) -1.5% premarket after Q4 earnings and revenues miss Wall Street expectations.
  • GPOR's Q4 output totaled ~1.53M boe; estimates FY 2014 production of 50K-60K boe/day, with E&P capex activities estimated at $675M-$725M.
  • Says it is evaluating strategic alternatives for its oilfield service business, and may pursue an IPO of the interests later this year.
  • Agrees to acquire 8,200 net acres and ~1,000 boe/day of production in the eastern Ohio Utica Shale from Rhino Resources (RNO) for ~$185M.
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