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 Corporation (NASDAQ: GPOR) reported its financial results for Q2 and the first half of 2021, revealing a successful restructuring process completed on May 17, 2021. Key highlights include a reduction in total debt by over $1.2 billion and annual cash interest expense by $90 million. The company reported $87.3 million in operating cash flow and $74.4 million in free cash flow. For 2021, Gulfport plans capital investments of $290-$310 million, with an expected net production of 975-1,000 MMcfe per day and aims to generate approximately $290 million to $310 million in free cash flow.
Gulfport Energy Corporation (NYSE: GPOR) will host a teleconference and webcast to discuss its Q2 2021 results on August 6, 2021, at 9:00 a.m. ET. A news release revealing the financial and operational results will be issued on August 5, 2021, after market close. The public can access the call via a link on the Gulfport website or by dialing 866-373-3408 domestically. A replay of the call will be available until August 20, 2021. Gulfport focuses on natural gas and crude oil exploration and production, primarily in the Appalachia and Anadarko basins.
Gulfport Energy Corporation (NYSE: GPOR) has emerged from Chapter 11 protection after confirming its Plan of Reorganization on April 28, 2021. The restructuring led to a new Board of Directors and a strengthened balance sheet with $853 million in total debt, representing over $1.2 billion in deleveraging. Gulfport now enjoys approximately $135 million in liquidity, with a net-debt-to-EBITDA ratio of around 1.5x. The company's new common shares are set to trade on the NYSE under the symbol "GPOR" starting May 18, 2021.
Gulfport Energy Corporation (GPOR) announced the U.S. Bankruptcy Court's approval of its first-day motions, allowing it to access $90 million in debtor-in-possession (DIP) financing. This funding will support ongoing operations, including paying employee wages and benefits. Gulfport filed for Chapter 11 on November 14, 2020, and aims to eliminate approximately $1.25 billion in debt while restructuring its capital. A Restructuring Support Agreement has been reached with over 95% of its lenders.
Gulfport expects to exit bankruptcy with leverage below two times and secure $580 million in exit financing.
Gulfport Energy Corporation (NASDAQ: GPOR) has initiated a voluntary Chapter 11 process to restructure its finances, supported by a Restructuring Support Agreement with over 95% of its lenders. The plan aims to eliminate approximately $1.25 billion in debt and reduce annual cash interest expenses. Gulfport secured $262.5 million in debtor-in-possession financing, including $105 million in new funds for operational expenses. The company expects to exit Chapter 11 with leverage below two times, improving cash flow generation and stakeholder value.
Gulfport Energy Corporation (GPOR) reported Q2 2020 results, showing a net loss of $561.1 million or $3.51 per share. However, adjusted net income was $47.1 million, or $0.29 per share. The company improved well costs; costs per lateral foot dropped 18% in Utica Shale. Operating cash flow stood at $97.9 million, and free cash flow was $43.9 million. Production averaged 1,027 MMcfe per day, with natural gas prices averaging $1.02 per Mcf. Gulfport plans to defer some production to late 2020 for better pricing and confirmed 2020 production guidance remains intact.
Gulfport Energy Corporation (NASDAQ: GPOR) has announced its conference call to discuss the financial and operational results for the second quarter of 2020. The call is scheduled for August 5, 2020, at 9:00 a.m. Central Time, following the earnings release after market close on August 4, 2020. Interested parties can join the call via Gulfport’s website or by phone. Gulfport is recognized as one of the largest natural gas producers in the contiguous U.S., with significant operations in the Utica Shale and SCOOP plays, along with various non-core assets.
Gulfport Energy Corporation (NASDAQ: GPOR) announced that its 2020 Annual Meeting of Stockholders will take place virtually on July 16, 2020, due to the COVID-19 pandemic. Only stockholders as of June 16, 2020, can participate, requiring pre-registration by July 15, 2020. The change to a virtual-only format was notified to the U.S. Securities and Exchange Commission. Gulfport is a leading natural gas and oil company, primarily in North America, with substantial holdings in the Utica Shale and Oklahoma's SCOOP plays.
Gulfport Energy Corporation (GPOR) reported Q1 2020 results with a net loss of $517.5 million, or $3.24 per diluted share. Despite this, the company reduced long-term debt by $79.6 million and improved drilling efficiencies by 11% in the Utica Shale and 32% in the SCOOP. Adjusted net income was $16.6 million, with operating cash flow reaching $86.7 million. Gulfport's borrowing base was redetermined at $700 million, providing sufficient liquidity for its capital plan. The firm plans to generate positive free cash flow in the latter half of 2020, though it anticipates potential production impacts due to low oil prices and COVID-19.
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