Gulfport Status

I heard that Gulfport was in financial trouble. I heard that they were only operating one drilling rig now & may go to zero. Anyone know anything about what's going on with them now?

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Permalink Reply by jett on June 25, 2018 at 9:26am

This is a very interesting post considering that all the old Paloma leases are coming up for renewal

Permalink Reply by Massey colt on June 26, 2018 at 1:05pm

According to my research their stock is considered a strong buy. They are doing so good that they bought back $100 million of stock and are planning to buy back another $100 million this year. Earnings per share for Quarter 1 was $.56 per share. If they are cutting back drilling it isn't due to financial stress.

Permalink Reply by Terry giuliani on June 26, 2018 at 3:00pm

I called Gulfport buckeye yesterday concerning my Paloma lease that expires early September. All I got was voicemail and no return on Call.

Permalink Reply by Jeffrey Beunier on June 27, 2018 at 4:58pm

Gulfport laid out their development plan on their earnings call - they are focusing on Appalachia this year with approximately 80% of their capital budget.  They had many drilled but not completed wells, and increased the number of completion crews while reducing the number of rigs.  Their 2019 capital plan hasn't been disclosed.

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