Gulfport Energy Corporation
 (GPOR)

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  • Dec. 31, 2015, 1:52 PM
    • The volatility continues: After getting drubbed yesterday following the release of EIA inventory data, a slew of North American oil/gas industry firms are up strongly today as Nymex natural gas futures rise 6.1% to $2.35/MMBtu. The EIA reported today a weekly U.S. natural gas inventory change of -58 Bcf (close to expectations) to 3,756 Bcf.
    • Oil is also higher: WTI crude is up 2.5% to $37.53/barrel, and Brent crude up 3.7% to $37.80/barrel. The S&P is down 0.3%.
    • Also: Cheniere Energy (LNG +3.4%) has begun production at its Sabine Pass terminal, which will be the first to export shale gas from the U.S. Partner ING Capital states Cheniere is currently receiving, chilling, and storing 50M cubic feet of gas per day at the facility.
    • Major gainers include Southwestern Energy (SWN +9.6%), Williams (WMB +5.6%), Encana (ECA +4.5%), Gulfport Energy (GPOR +5.3%), Whiting Petroleum (WLL +8.2%), Rice Energy (RICE +5.6%), SandRidge Permian Trust (PER +8.9%), Oasis Petroleum (OAS +5.9%), BP Prudhoe Bay Royalty Trust (BPT +7.3%), and Baytex Energy (BTE +9.3%). ONEOK is up over 7% after catching an upgrade from Credit Suisse.
    | Dec. 31, 2015, 1:52 PM | 8 Comments
  • Dec. 30, 2015, 12:46 PM
    • Hit hard two days ago as oil fell below $37/barrel, oil/gas industry names are seeing more pain today after the EIA reported U.S. crude inventories rose by 2.6M barrels last week - expectations were for a decline. The report comes shortly after the API estimated U.S. crude inventories rose by 2.9M barrels during the most recent weekly period.
    • After rising yesterday, WTI crude is down 3.1% to $36.71/barrel. Brent crude is down 2.9% to $36.69/barrel. Nymex natural gas is down 7.3% to $2.20/MMBtu.
    • The biggest decliners include Chesapeake Energy (CHK -4.1%), Petrobras (PBR -4.1%), Linn Energy (LINE -7.5%), Gulfport Energy (GPOR -5.2%), SeaDrill (SDRL -5.5%), MV Oil Trust (MVO -4.5%), EV Energy Partners (EVEP -6.7%), and Southwestern Energy (SWN -5.7%).
    • Other notable decliners include Hercules Offshore (HERO -5.2%), Marathon Oil (MRO -4%), Devon Energy (DVN -4.4%), Encana (ECA -4.1%), Range Resources (RRC -4.7%), Sandridge Mississippian Trust (SDR -4%), Newfield Exploration (NFX -3.8%), BP Prudhoe Bay Royalty Trust (BPT -3.1%), Enerplus (ERF -3.9%), and ONEOK Partners (OKS -2.5%).
    • ETFs: XLE, VDE, ERX, OIH, XOP, ERY, DIG, DUG, BGR, IYE, IEO, FENY, PXE, FIF, PXJ, NDP, RYE, FXN, DDG, DRIP, GUSH
    | Dec. 30, 2015, 12:46 PM | 68 Comments
  • Dec. 22, 2015, 2:38 PM
    • "Quality" oil stocks will perform well during H1 2016 but it will be time to buy “beta” names in H2 as global oil market conditions fundamentally improve over the course of the year, RBC analysts say, adding that a sustainable oil price recovery appears more on the cards in 2017.
    • RBC thinks stocks with lower leverage, good asset quality and cheap valuation are likely to perform best and earlier, citing 12 names: Apache (APA +1.1%), Devon Energy (DVN +3.4%), Continental Resources (CLR +8.3%), ConocoPhillips (COP +2.9%), Carrizo Oil & Gas (CRZO +1.9%), EP Energy (EPE +14.6%), Gulfport Energy (GPOR -0.9%), Newfield Exploration (NFX +0.5%), Oasis Petroleum (OAS +6.3%), Rice Energy (RICE -0.6%), SM Energy (SM -0.1%) and Whiting Petroleum (WLL +6.9%).
    | Dec. 22, 2015, 2:38 PM | 34 Comments
  • Dec. 9, 2015, 10:47 AM
    • EQT Corp. (EQT +1.4%) and Gulfport Energy (GPOR +3.9%) are J.P. Morgan's top picks among E&P companies focused on the Marcellus and Utica shales, which the firm says are structurally advantaged, given the low-end of the U.S. natural gas cost curve and vast inventories of ready-to-drill locations.
    • The firm says EQT's cash cost structure of $1.11/Mcfe and total cost structure of $2.35/Mcfe are well below the average of Marcellus/Utica peers, a key competitive advantage within a natural gas environment that could remain "challenged for many years."
    • GPOR's positioning within the Utica Shale includes 160K net acres in the core of the dry gas window, which JPM provides the company with a "remarkable growth opportunity" over the next 10-plus years.
    • JPM initiates Cabot Oil & Gas (COG +2.5%), Eclipse Resources (ECR +7.3%), Range Resources (RRC +4%), Rice Energy (RICE +6.3%) and Southwestern Energy (SWN +3.4%) with Neutral ratings, and starts Antero Resources (AR +2.6%) at Underweight.
    | Dec. 9, 2015, 10:47 AM | 5 Comments
  • Oct. 21, 2015, 2:08 PM
    • Gulfport Energy (GPOR -3.1%) is initiated with a Buy rating and a $48 price target at Canaccord, which calls GPOR “the most levered company to the core of the Utica Shale in eastern Ohio, with ~243K net acres.”
    • GPOR’s high-quality asset base should drive production to more than double in 2015 on top of a 255% increase in 2014. the firm says, also noting that legacy assets in south Louisiana offer reliable premium-priced crude production; the firm also likes GPOR's robust balance sheet “with an undrawn borrowing base helps underpin the growth outlook.”
    • Despite GPOR's growth profile and strong financial position, the shares trade at a discount to its Appalachian peers on estimated 2016E enterprise value/EBITDA (8x vs. 9.8x), which Canaccord says is unwarranted.
    | Oct. 21, 2015, 2:08 PM
  • Oct. 8, 2015, 2:47 PM
    • Gulfport Energy (GPOR +2.7%) and Rice Energy (RICE -0.6%) announce plans to form a midstream joint venture to develop natural gas gathering and water services assets to support dry gas development in the Utica Shale in Ohio.
    • Plans call for a gathering system of 165 miles of high- and low-pressure pipelines with multiple interconnections to interstate pipelines, with first deliveries were scheduled for mid-2016.
    • GPOR will own 25% of the JV, with RICE owning the rest and being responsible for constructing and operating the assets.
    | Oct. 8, 2015, 2:47 PM
  • Aug. 25, 2015, 12:18 PM
    • Occidental Petroleum (OXY +3.7%), Diamondback Energy (FANG +1.2%), Gulfport Energy (GPOR +3.3%) and Rice Energy (RICE +1.3%) are recommended by Sterne Agee CRT analyst Tim Rezvan as "high conviction long ideas" in the energy sector for investors wary of the group amid structural issues facing global oil markets that appear unlikely to abate this year.
    • OXY shares are "an attractive port amid the current oil volatility storm," Rezvan writes, believing the sustainable 4.6% yield - vs. other less stable, higher yielding energy equities - should provide a floor for the shares near the current level.
    • FANG is seen as an underlevered pure-play in a premier oil shale basin with no legacy assets to weigh on operating expenses, which the firm says maintains the lowest full-cycle costs in its coverage group.
    | Aug. 25, 2015, 12:18 PM
  • Jul. 27, 2015, 3:58 PM
    • Gulfport Energy (GPOR -5.4%) sinks to a 52-week low despite reporting Q2 net production of 473.9MM cfe/day, beating its previously estimated guidance of 445MM-455MM cfe/day.
    • GPOR says its Q2 Utica Shale production totaled 457.6MM cfe/day, or 97% of aggregate net production vs. 93% and 79% during Q1 and in Q2 2014, respectively.
    • GPOR says it spud nine gross (6.7 net) wells and turned-to-sales 19 gross (14.5 net) wells during the quarter, all located within the dry gas phase window of the play; as of June 30, the company had ~137 gross (103.8 net) wells producing in the Utica Shale.
    | Jul. 27, 2015, 3:58 PM
  • Jul. 20, 2015, 2:29 PM
    • Whiting Petroleum (WLL -4.1%) is upgraded to Positive from Neutral with a $33 price target at Susquehanna, saying it now believes the valuations of many E&P stocks are finally starting to look more reasonable.
    • Drivers from WLL include the company’s reserve growth potential via its positions in the Bakken and Niobara, and improvement in capital efficiency due to its focus on enhanced completions, Susquehanna says.
    • The firm names Newfield Exploration (NFX -1.2%), Continental Resources (CLR -2.6%) and Devon Energy (DVN -2.3%) as its preferred oil names and Gulfport Energy (GPOR -3.7%) as its favorite gas play.
    • Last week's news of sales of two WLL non-core conventional properties for $185M piques the interest of Capital One Securities, which says WLL's Belfield and Robinson Lake gas plants could be next on the chopping block and could take 2015 asset sale proceeds to the top end of WLL's guided range of $500M-$1B for the year.
    | Jul. 20, 2015, 2:29 PM | 11 Comments
  • Jun. 9, 2015, 6:53 PM
    • Gulfport Energy (NASDAQ:GPOR) -4.8% AH after agreeing to buy more than 35K acres from Aubrey McClendon-backed American Energy-Utica in the Utica Shale play in Ohio for ~$406M.
    • The acreage in eastern Ohio's Belmont, Monroe and Jefferson counties is considered some of the best counties for natural gas production in the state.
    • Once the deals go through, GPOR will hold 243K acres under lease in the heart of the shale play.
    • To fund the deal, GPOR is launching a public offering of 10M common shares, with an underwriters option to purchase up to an additional 1.5M shares.
    | Jun. 9, 2015, 6:53 PM | 2 Comments
  • Apr. 15, 2015, 4:47 PM
    • Gulfport Energy (NASDAQ:GPOR) -2.6% AH on news it agrees to acquire Macquarie subsidiary Paloma Partners III for $300M; Paloma holds ~24K net non-producing acres in the core of the dry gas window of the Utica Shale in Ohio.
    • To help pay for the deal, GPOR announces a public offering of 7.5M common shares, with an underwriters option to purchase up to additional 1.125M shares, and proposes to offer $300M of senior notes due 2023.
    • Also, GPOR says it produced oil and natural gas sales volumes of 424MM cfe/day during Q1, beating its previous guidance of 378MM-390MM cfe/day; for Q1, GPOR's production mix was 68% natural gas and 32% oil and natural gas liquids.
    | Apr. 15, 2015, 4:47 PM | 3 Comments
  • Feb. 25, 2015, 5:37 PM
    • Top gainers, as of 5:15 p.m.: ELX +24.5%. CRM +10.5%. ARC +9.4%. GPOR +9.0%. CLUB +7.1%.
    • Top losers, as of 5:15 p.m.: WAL -10.4%. IL -8.1%. MMSI -7.3%. MATX -6.1%. INFI -5.0%.
    | Feb. 25, 2015, 5:37 PM | 1 Comment
  • Nov. 11, 2014, 4:53 PM
    • Diamondback Energy (NASDAQ:FANG) -3.1% AH as it launches a public offering of 2M common shares by certain selling stockholders, with an underwriters option to purchase up to an additional 300K shares.
    • Entities controlled by Wexford Capital intend to sell 1.058M shares and Gulfport Energy (NASDAQ:GPOR) plans to sell 942k shares.
    • All net proceeds will go to the selling stockholders.
    | Nov. 11, 2014, 4:53 PM | 3 Comments
  • Oct. 16, 2014, 3:36 PM
    • Southwestern Energy (SWN -10.6%) appears to be paying a steep price to buy $5.375B in high quality Appalachia assets from Chesapeake Energy (CHK +16.7%); SunTrust estimates SWN paid $9,625/acre for the land, when previous deals in West Virginia had come in below $5K/acre and the sharp decline in commodity prices over recent months.
    • Stock investors clearly think CHK got a great deal, which is boosting shares of other West Virginia players such as Magnum Hunter (MHR +9.9%), Gulfport Energy (GPOR +6.7%) and Consol Energy (CNX +2.5%).
    • Topeka Capital believes MHR has superior assets in the core Utica and Marcellus, and an average of the transaction metrics on MHR's production and acreage implies upside of 39.2%; with its scale in the area, the firm thinks MHR makes for an attractive takeout over the next 12 months.
    | Oct. 16, 2014, 3:36 PM | 4 Comments
  • Oct. 15, 2014, 10:43 AM
    • Gulfport Energy (GPOR +1.6%) reports total Q3 production of nearly 3.9M boe, or 42,332 boe/day, exceeding its previously estimated guidance of 40K boe/day; the mix was 71% natural gas and 29% oil and natural gas liquids.
    • GPOR says production has averaged ~53.4K boe/day so far in October.
    • Wunderlich sets an $80 price target for GPOR shares, as the Q3 production beat and even big October ramp provides confidence in the company's strong outlook (Briefing.com).
    | Oct. 15, 2014, 10:43 AM
  • Sep. 17, 2014, 4:29 PM
    • Diamondback Energy (NASDAQ:FANG) -2.8% AH on news it is launching a secondary offering of 2.5M common shares by certain entities controlled by Wexford Capital and Gulfport Energy (NASDAQ:GPOR), with an underwriters' option to purchase up to an additional 375K shares.
    • All of the net proceeds will go to the selling stockholders.
    | Sep. 17, 2014, 4:29 PM
Company Description
Gulfport Energy Corp is an independent oil and natural gas exploration and production company focused on the exploration, exploitation, acquisition and production of crude oil, natural gas liquids and natural gas in the United States.