Gulfport lost 1.2 BILLION in 2015.
Gulfport lost 242.3 Billion in 1Q 2016.
It's very possible Gulfport is out of money.
A couple of racehorse type wells can't offset years of incompetent management.
The real question/scandal is how did these rubes from Oklahoma get the money in the first place.
Don't release with Gulfport--they have too much baggage.
Wait for the new players to arrive.
Reminds me of something Pappy told me: boy! You better let that horse go!!
I heasrd tell of a guy in Winterset,Guernsey co. Ohio, who recently heard fromGulfport, whom he leased with almost 5 years ago, they said they wanted to renew their lease, but it would be done by ECLIPSE!. Are they selling their leases? or joining up with Eclipse? Or is it all Bullshit?
We re-leased with Gulfport in March for the original amount for 5 years. We live in Belmont County. I don't know why they would do us and not do others. Maybe it has to do with location?
Where are you located in Belmont county?
union township. Section 26. Near Morristown. Next to the Eagle Creek & Family wells.
I am located in the same vicinity with a lease expiring this fall. Some of my acreage is in the Eagle Creek unit, which has been a very strong producer. We are both solidly in the wet gas zone. With one ethane cracker moving forward and a second likely to do the same, and NG prices hanging in there, things should be looking up for wet gas landowners. Then again, I tend to be an eternal optimist!
Thanks again and good luck with your renewed lease! Is any of your property in a drilling unit?
No, I don't have any in a drilling unit. Eagle Creek & Family on the opposite side of I-70 are both right against my property. I heard a rumor they were putting a new well in that would include me but so far it's just a rumor.
I also own property that bolts on to the south end of the Family drilling unit. I'm a very involved absentee landowner. Must make a plug for Food By Jane in Morristown. Truly a cut above most of the eating establishments in Belmont County! And locally owned.