Gulfport Energy CorporationNASDAQ
Wed, Dec. 7, 9:08 AM| Wed, Dec. 7, 9:08 AM | 1 Comment
Thu, Nov. 17, 7:21 PM
- TransCanada’s (NYSE:TRP) decision this week to end plans for lower tolls on its gas pipeline to eastern Canada means less supply will head there from the country’s western reservoirs, opening the door for U.S. explorers to edge out Canadian competitors and ship more gas north of the border, Bloomberg reports.
- Drillers in the Marcellus Shale are now poised to expand their reach in Canada’s population centers, and Evercore ISI analysts say Antero Resources (NYSE:AR), Rice Energy (NYSE:RICE) and Gulfport Energy (NASDAQ:GPOR) stand to benefit the most from TRP's move.
- TRP said its decision was forced by a lack of interest from western Canadian producers, but it raises the odds that the proposed Nexus pipeline, developed by Spectra Energy (NYSE:SE) and DTE Energy (NYSE:DTE), or the Rover project led by Energy Transfer Partners (NYSE:ETP), will allow Marcellus gas to displace Canadian supplies, GMP FirstEnergy's Martin King says.
- While some western Canadian producers are banking on a better pipeline deal from TRP, that offer may never come, says one natural gas consultant.
Tue, Nov. 15, 10:49 AM
- West Texas' Permian Basin now holds nearly as many active oil rigs as the rest of the U.S. combined, including those offshore, the U.S. Energy Information Administration reports.
- The rig count has been rising since this summer, but the Permian began seeing rigs increase earlier than the U.S. as a whole, and is adding rigs more quickly; of the ~450 total U.S. rigs, the Permian now accounts for ~220.
- Permian production has reached 2M bbl/day of oil, while south Texas’ Eagle Ford and North Dakota’s Bakken have fallen to below 1M bbl/day.
- Top Permain producers include CVX, OXY, APA, PXD, CXO, DVN, EOG, MRO, FANG, XOM, ECA, RSPP, SM, EGN, PE, AREX, GPOR, XEC, LPI, CPE, ESTE, WPX, PDCE
Mon, Nov. 7, 4:57 PM
- Natural gas production from Ohio, home to the Utica shale formation, jumped 13% Y/Y in August even as output fell across the rest of the U.S., including the neighboring Marcellus play in Pennsylvania.
- Producers are doubling down on Ohio amid speculation that gas flows from the Utica will eventually rival output from the Marcellus, the biggest U.S. shale reservoir; Ohio accounted for ~5% of U.S. gas supply in August, up from less than 2% for the same period in 2014.
- Chesapeake Energy (NYSE:CHK), Rice Energy (NYSE:RICE) and Gulfport Energy (NASDAQ:GPOR) drilled most of the new wells in the state, according to Bloomberg.
Wed, Nov. 2, 4:04 PM
Tue, Nov. 1, 5:35 PM
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Mon, Oct. 24, 2:57 PM
- Gulfport Energy (GPOR -2.7%) is upgraded to Buy from Hold with a $35 price target at Goldman Sachs, which believes shares are pricing in “an extended operational disruption despite inflecting operational momentum."
- Goldman says GPOR is trading at a discount to the low end of its historical forward EBITDA range, explaining that “investors highlighted a lack of confidence in operational execution, concerns over the firm’s Utica type curves and the potential need for future acquisitions to expand inventory.”
- The firm anticipates GPOR will provide details alongside Q3 earnings that willl show operational momentum is accelerating, which should support improving investor sentiment and valuation.
Mon, Oct. 17, 10:56 AM
- Gulfport Energy (GPOR -2.1%) says its net daily Q3 production of 734M cfe/day was up 13% Y/Y and 10% Q/Q, exceeding its previously provided guidance of 685M -705M cfe/day.
- GPOR says its realized natural gas price, before the impact of derivatives and including transportation costs, averaged $2.10/Mcf, a $0.71 differential to the average trade month Nymex settled price; the realized oil price averaged $41.81/bbll, a $3.13 differential to the average WTI oil price.
- Williams Capital views GPOR's update as positive, given investor concerns on production into the quarter, and reaffirms its Buy rating and $35 price target.
Mon, Aug. 29, 6:25 PM
- Williams Capital believes oil industry fundamentals are solid despite current commodity price levels but is cautious overall and advises investors not to chase the recent run at current valuations.
- However, the firm recommends select underappreciated companies with lower expectations and re-rating potential, and thinks companies situated in core resource plays that can demonstrate further capital efficiency improvements with catalysts will continue to garner top valuations and M&A premiums.
- Two of Williams' favorites are SM Energy (NYSE:SM), which the firm says remains one of the cheapest names in the sector with a solid balance sheet and assets as well as a conservative management team, and Newfield Exploration (NYSE:NFX), which Williams sees thriving through the current downturn given its strong balance sheet, ample financial liquidity and strong hedge book.
- Also initiated with Buy ratings: Cabot Oil & Gas (NYSE:COG), Energen (NYSE:EGN), Gulfport Energy (NASDAQ:GPOR), Oasis Petroleum (NYSE:OAS), PDC Energy (NASDAQ:PDCE), Pioneer Natural Resources (NYSE:PXD).
- Driven largely by valuation, Williams assigns Hold ratings on Diamondback Energy (NASDAQ:FANG), Gastar Exploration (NYSEMKT:GST), Laredo Petroleum (NYSE:LPI), Parsley Energy (NYSE:PE), Rice Energy (NYSE:RICE) and Cimarex Energy (NYSE:XEC).
Wed, Aug. 3, 4:04 PM
Tue, Aug. 2, 5:35 PM
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Fri, Jul. 15, 3:58 PM
- Gulfport Energy (GPOR -3.5%) is lower after reporting that it averaged 664.7M cfe/day of natural gas during FQ4, up 40% Y/Y but matching the low end of its prior guidance for the period of 664-692 cfe/day.
- GPOR says its average realized price for natural gas was $1.44/Mcf, excluding hedging impact but including transportation costs and reflecting a $0.51 differential to the NYMEX settled average price.
- Crude oil averaged $42/bbl during the quarter for the company, a $3.60 differential from the NYMEX settled price.
Tue, Jun. 14, 11:22 AM
- Gulfport Energy (GPOR -0.9%) and EQT Corp. (EQT -1.2%) are downgraded to Hold from Buy at Deutsche Bank, which says the view reflects its neutral position on Northeast gas producers.
- The firming of prices in H2 of the year should keep some positive momentum in the natural gas-levered producers, but small infrastructure growth out of the Northeast until late 2017 or 2018 will limit the ability for these producers to capture periods of higher prices, Deutsche Bank says.
- The firm's new stock price target for GPOR is $33, cut from $37, and the new target for EQT is $79, lowered from $81.
Wed, May 4, 4:05 PM
- Gulfport Energy (NASDAQ:GPOR): Q1 EPS of $0.14 beats by $0.05.
- Revenue of $157M (-11.0% Y/Y) misses by $4.76M.
Tue, May 3, 5:35 PM
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Thu, Apr. 14, 12:58 PM
- Simmons analysts raise EPS estimates and price targets for oil and gas E&P stocks to reflect a mark-to-market update to the forward curve through 2018.
- “Our E&P coverage universe now offers ~13% upside potential on average as upward revisions to our price targets were more than offset by the bounce in equities,” Simmons says.
- The firm's top large-cap E&P stocks: Apache (APA +0.2%), Concho Resources (CXO -0.3%), EOG Resources (EOG -0.1%), Noble Energy (NBL -0.7%), Pioneer Natural Resources (PXD +0.8%).
- Favorite small- to mid-cap names: Diamondback Energy (FANG -0.7%), Newfield Exploration (NFX -0.3%), Parsley Energy (PE -0.4%).
- Simmons' top natural gas pick: Gulfport Energy (GPOR -1.5%).
- Now read Apache: Turnaround and future growth