Has Gulfport re leased you

Our 5 year Gulfport lease is up for release or re leasing very soon. They have been pushing hard to renegotiate our lease in annual installments, no guarantee of more than a year payment.

We said no deal, we are choosing to stick by their original lease.

They say they have no money; what the heck are they doing with the millions of whatever measurement I don't understand coming from their four gangbuster producing wells they have here in Sunsbury Township, NE Monroe county Ohio ? Only Rice Energy has higher producing wells here abouts. We have called their bluff and said no way, pay up if want to keep your lease.

Does anyone care to share if their expiring Gulfport lease has been renewed and paid for ? Gulfport is counting on their leaseholders to remain stupid and fall for their bluff. But knowledge is everything when dealing with the gas companies.

Please share whatever information you might have about this particular matter; thank you !

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Permalink Reply by Portiuncula Franciscan Hermitage on August 3, 2016 at 1:49pm

Yes

Permalink Reply by Albert Russell on August 13, 2016 at 12:59pm

Gulfport is going to add a couple of more rigs to the area.

Permalink Reply by Portiuncula Franciscan Hermitage on February 15, 2020 at 3:59am

Yes

Permalink Reply by Portiuncula Franciscan Hermitage on February 29, 2020 at 5:14am

Yes

Permalink Reply by Portiuncula Franciscan Hermitage on February 29, 2020 at 5:17am

Looking at the stock market data for Gulfport, I don't have much confidence they can sustain viability more than a couple more months. 

Permalink Reply by Portiuncula Franciscan Hermitage on February 15, 2020 at 4:01am

Here we are, six years later, and Gulfport is letting their leases lapse here in Monroe County. Judging from the fact that their shares of stock dropped from $50.00 per share to $1.50 per share, I would say they have serious internal problems. 

Permalink Reply by shakeshale on February 29, 2020 at 4:41pm
They just reported a 2 billion dollar loss for all of 2019
I wouldn’t look for them to be signing leases
Maybe a name change after they file for Bankruptcy
Permalink Reply by Portiuncula Franciscan Hermitage on March 1, 2020 at 2:02am

Exactly! I figured that's why they divided their company up and we were put under "Gulfport Appalachia" so that they could simply start chopping themselves up into little bits and pieces and either sell each off individually or file bankruptcy on each individually. 

Permalink Reply by Portiuncula Franciscan Hermitage on March 1, 2020 at 2:06am

Gulfport's management style is non-existent. Their entire Board of Directors has flipped three times in the past five years. They keep bringing in different species of sub-primates and pay them millions of dollars per year for their inabilities. 

Permalink Reply by Joe C. on March 1, 2020 at 3:31am

Gulfport Energy reports $2B loss

The Oklahoma City-based company has more than 400 Utica wells in Ohio.

The driller with the third most Utica Wells in Ohio lost $2 billion last year.

Gulfport Energy held a phone call Friday with investors to discuss its earnings.

The loss was equal to $12.49 per diluted share.

The Oklahoma City-based company has more than 400 Utica wells in Ohio, the most of any publicly traded company, and is only behind privately held Encino Acquisition Partners and Ascent Resources in total wells.

Gulfport’s fourth quarter revenue was $281 million, down a third from the last quarter of 2018. Annual was held level at $1.35 billion.

In Ohio, Gulfport has 205,000 net acres under lease, 65 percent of which are held by production.

Last year, the company drilled 16 wells and began production from nearly 45 wells in the Utica Shale.

Gulfport’s annual production from Utica wells was equivalent to almost 400 billion cubic feet of natural gas, about 80 percent of the company’s total production.

The company said it plans to spend up to $310 million on capital projects this year, about half of what it spent in 2019.

Gulfport plans to use some of that money to operate one rig in the Utica to drill 16 wells. The company also plans to begin production from 18 Utica wells this year.

Permalink Reply by shakeshale on March 1, 2020 at 10:35am
I wonder how long it will take for them to file
They are releasing leases in Monroe and Belmont
You think they would assign them or mortgage them for capital

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