- Gulfport Energy (GPOR +0.7%) recovers some of yesterday's 2% loss that followed its ~$406M purchase of Utica Shale acreage and assets and concurrent 10M-share public offering.
- Morgan Stanley analyst Drew Venker says the deal strengthens GPOR's existing position in the area, and the $9,500/undeveloped net acre transaction price compares favorably to an average price of $14K/acre for recent acquisitions in the Dry Gas window.
- The firm also says GPOR's intention to add one rig to operate on the acquired acreage beginning in Q1 2016 increases its 2016 production growth estimate to 50% Y/Y from 37% previously.
Gulfport Energy Utica Shale purchase viewed favorably at Morgan Stanley
Recommended For You
More Trending News
About GPOR Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
GPOR | - | - |
Gulfport Energy Corporation |