Welcome to our dedicated page for Gulfport Energy news (Ticker: GPOR), a resource for investors and traders seeking the latest updates and insights on Gulfport Energy stock.
Gulfport Energy Corporation reports news about its natural gas-weighted exploration and production business in the United States. The company focuses on natural gas, crude oil and natural gas liquids in the Appalachia and Anadarko basins, with principal properties in eastern Ohio targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations.
Company updates commonly address quarterly and annual operating results, development plans, production guidance, capital spending, liquidity, borrowing-base redeterminations and share repurchase activity. News also covers acreage and drilling-inventory additions, land and seismic investment, preferred stock redemption history, and board or executive leadership changes tied to governance and operating oversight.
Gulfport Energy (NYSE: GPOR) has announced the pricing of an upsized private offering of $650 million in 6.75% Senior Notes due 2029, issued by its subsidiary Gulfport Energy Operating The notes, priced at 100% of par, are expected to close on September 13, 2024. Gulfport intends to use the proceeds to purchase its 8.0% Senior Notes due 2026 through a tender offer, redeem remaining 2026 notes, repay credit facility borrowings, and for general corporate purposes. The offering is to qualified institutional buyers and non-U.S. persons, and is not registered under the Securities Act.
Gulfport Energy (NYSE: GPOR) announced a cash tender offer for its 8.0% Senior Notes due 2026. The offer, made through its subsidiary Gulfport Energy Operating , aims to purchase any and all of the outstanding $550 million in principal amount of these notes. The purchase price will be determined based on a fixed spread over a U.S. Treasury reference security yield. The tender offer expires on September 9, 2024, at 5:00 p.m. New York City time, unless extended or terminated earlier.
The offer is contingent on satisfying certain conditions, including completing a contemporaneous debt financing. Gulfport intends to use the proceeds from this financing to fund the tender offer and potentially redeem any remaining notes by May 17, 2025, at 100% of the principal amount plus accrued interest.
Gulfport Energy (NYSE: GPOR) announced that its subsidiary, Gulfport Energy Operating , plans to offer $500 million of Senior Notes due 2029 in a private placement. The notes will be guaranteed by Gulfport and its subsidiaries. Concurrently, the company launched a tender offer to purchase all of its 8.0% Senior Notes due 2026. The proceeds from the new offering will be used to purchase the 2026 notes and potentially redeem any remaining notes by May 17, 2025. Any leftover funds may be used for general corporate purposes, including reducing credit facility borrowings or making temporary investments.
Gulfport Energy (NYSE: GPOR) reported its Q2 2024 financial results and provided an update on its 2024 development plan. Key highlights include:
- Total net production of 1,050.1 MMcfe per day
- Capital expenditures of $122.2 million, below analyst expectations
- Net loss of $26.2 million, adjusted net income of $54.0 million
- Adjusted EBITDA of $164.4 million
- Net cash from operating activities of $123.5 million
- Adjusted free cash flow of $20.2 million, above expectations
- Repurchased 160.6 thousand shares for $25.0 million
- Completed $19.0 million in discretionary acreage acquisitions
The company narrowed its 2024 net production guidance to 1,055-1,070 MMcfe per day and expects over $25 million in capital expenditure savings. Gulfport plans to allocate $45 million to targeted acreage acquisitions and substantially all 2024 adjusted free cash flow towards share repurchases.
Gulfport Energy (NYSE: GPOR) has announced its schedule for the second quarter 2024 earnings release and conference call. The company plans to release its Q2 2024 financial and operating results on Tuesday, August 6, 2024, after market close. A teleconference and webcast to discuss these results will be held on Wednesday, August 7, 2024, beginning at 9:00 a.m. ET (8:00 a.m. CT).
Investors can access the live conference call through a link on Gulfport's website or by dialing 866-373-3408 (domestic) or 412-902-1039 (international). A replay of the call will be available on the company's website and via telephone from August 7 to August 21, 2024, using the replay passcode 13747661.
Gulfport Energy reported strong financial and operational results for the first quarter of 2024. The company exceeded analyst expectations in net income, adjusted EBITDA, net cash provided by operating activities, and adjusted free cash flow. Gulfport reduced total debt, repurchased shares, and reaffirmed its borrowing base. Despite deferring certain drilling activities, the company reaffirmed its full-year guidance and plans to focus on more liquids-rich development to maximize value.
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