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 !

Views: 9105

▶ Reply to This

Replies to This Discussion

Permalink Reply by Albert Russell on August 2, 2016 at 5:23pm

Annie what township are you in?

Permalink Reply by Shower Bath on July 7, 2016 at 10:51am

Gulfport is in solid financial shape. All of the companies with renewals (second 5 years) are attempting to lower their lease costs. You are in the sweet spot and they will most likely pay the full contract price before the date due. Of course they could not renew and then hope to resign you for less signing bonus. The ball is in their court. Good luck!

Permalink Reply by TreeMom on July 7, 2016 at 3:09pm
The losses Gulfport reported were write downs, and they state 700 million in cash and revolving credit available. They have released at least two people in Sunsbury for 5 years since last fall. While they may not want to spend the money they appear to have it.
Permalink Reply by Paul Butler on July 8, 2016 at 12:49am

Solid financial shape?

Losses from write downs?

After they paid the bankers, they were cash flow positive by how much?

What page on their financial statements can I find the number that has so impressed you?

Why are so many of Gulfport's big shots dumping large blocks of stock?

Check out the SEC Form 4's attached hereto: 

http://www.streetinsider.com/stock_lookup.php?q=GPOR

Why were they downgraded by Deutche Bank and KLR Group?

Permalink Reply by TreeMom on July 8, 2016 at 1:06am
On their website under investors they show their financial position and liquidity in their first quarter press release. not a boom time for them but they are not broke. They say they have 454 million in cash and 700 million in revolving credit undrawn. I am not proposing that anyone buy stock rather saying that if they want to renew Annie's lease they have money.
Permalink Reply by Paul Butler on July 8, 2016 at 1:18am

Many people believe that their website has two purposes: to deceive and obscure.

The Gulfport website is not a source of candid, much less fully candid, information.

Permalink Reply by Bluflame on August 2, 2016 at 3:05am

Paul,

    The write downs are an accounting requirement. It is a non-cash entry that reduces the value of their reported hydrocarbon reserves. All of the E&P's are required to record this very painful accounting entry, which mostly effects their balance sheet and net worth. This, coupled with reduced earnings, both caused by low commodity prices, is the reason for the credit downgrades by the bankers.

    IMHO, GPOR is a straight shooter. It looks like the "big shots" were timely in their stock sales. However, GPOR is mostly an NG and liquids producer. Those prices have recently risen nicely and at least so far haven't retreated to the extent of WTI.

BluFlame

Permalink Reply by Daryl Brown on August 24, 2016 at 8:07am

BluFlame,

You cannot help Paul.  He is the type of guy who knows everything and nothing all at the same time.  Hopeless case!  Send him to old Ron Hale and the two will buy a trailer home and live miserably ever after.  It's shameful yet laughable.  Everyone is out to get them (particularly the Okies) and they know all about O&G and love to play the eternal victim card. Sadly people on here actually listen to them and follow them merely because they speak loudly and appear to be harmed wrongfully in some way.  

Permalink Reply by Paul Butler on August 24, 2016 at 8:22am

Like the other ill informed apologists for the Shalers, you're long on opinion and short on facts.

Few, if any, of my posts are unsupported by a link to a third party source from respected, national experts.

Exactly which one of my posts contain information you can discredit?

The answer is none. 

If you had anything in addition to your dim witted opinions--you would have posted them.

You stating fallacies and wishful thinking doesn't make them true 

The foregoing only demonstrate that you are as ill tempered  as you are dim witted as you are bereft of character.

Your libels of me may discredit me with a small number of other ill informed readers, but in doing so you are blighting your soul in the eyes of God!

I see myself as a Christ like figure.

Permalink Reply by Daryl Brown on August 24, 2016 at 8:31am

OH wow........ just wow.......  Christ-like figure?  Blighting my soul in the eyes of God?  I don't even have a response for you.  It's worse than I suspected.  

I will give you this much....... Your vocabulary is impressive!  I've heard of this sort of thing and since you threw down the gauntlet on backing up my claims with a hyperlink I've taken the liberty to include one that may perhaps explain you're impeccable use of the English language.  Enjoy!

https://en.wikipedia.org/wiki/Savant_syndrome

Permalink Reply by Paul Butler on August 24, 2016 at 8:43am

OKLAHOMA CITY (AP) _ Gulfport Energy Corp. (GPOR) on Wednesday reported a loss of $339.8 million in its second quarter.

On a per-share basis, the Oklahoma City-based company said it had a loss of $2.71. Earnings, adjusted for non-recurring costs, were 24 cents per share.

http://finance.yahoo.com/news/gulfport-energy-reports-2q-los

Gulfport's realized prices for the second quarter of 2016 were ($1.10) per Mcf of natural gas, $37.23 per barrel of oil and $0.30 per gallon of NGL, resulting in a total equivalent price of ($0.47) per Mcfe.

http://www.shaleexperts.com/articles/Gulfport-Ups-Production-40-in-2Q-664.7-MMcfed_999953046?landingPage

Permalink Reply by Paul Butler on August 24, 2016 at 9:29am

My role here on GMS is akin to Jesus teaching in the Temple (Luke).

Your role and the role of the Shalers is akin to the role of the Money Changers.

The Money Changers/Shalers are changing the money which belongs to the Appalachian Oil & Gas Rights Owners into the money belonging to the Insiders, Bankers, Lawyers and Pipeline Operators.

I'm doing my part to  cast the bad eggs out.

Go in Peace (you've stopped making sense).

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service