Gulfport Energy Corporation

GPOR

Equity

ISIN US4026355028 / Valor 111617556

New York Stock Exchange, Inc (2024-12-24)

USD 170.72+2.63%

Gulfport Energy Corporation
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About company

Gulfport Energy Corporation is an independent exploration and production company primarily engaged in the extraction and development of natural gas, crude oil, and natural gas liquids (NGLs) within the United States. The company's operations are concentrated in the Appalachia and Anadarko basins, with principal properties located in Eastern Ohio, targeting the Utica and Marcellus formations, and in central Oklahoma, focusing on the SCOOP Woodford and SCOOP Springer formations. Gulfport Energy leverages its expertise in these regions to optimize resource extraction and production, contributing to the energy supply chain in the U.S.

Summarized from source with an LLMView SourceSector: Energy

Net Income and EBITDA

For the first quarter of 2024, Gulfport Energy Corporation reported a net income of $52.0 million. Additionally, the company achieved an adjusted EBITDA of $185.7 million, surpassing analyst consensus expectations for the period.

Production and Sales

Gulfport Energy Corporation's total net production for the first quarter of 2024 reached 1,053.7 MMcfe per day, aligning with analyst consensus expectations. The production primarily consisted of natural gas, contributing significantly to the company's financial performance during the quarter.

Capital Expenditure and Debt Reduction

During the first quarter of 2024, Gulfport Energy Corporation incurred capital expenditures of $124.4 million, which was below analyst expectations. The company also successfully reduced its total debt outstanding by $31.0 million compared to the end of 2023, enhancing its financial stability.

Liquidity and Borrowing Base

As of March 31, 2024, Gulfport Energy Corporation reported a strong liquidity position with a total of $757.4 million, including $87.0 million of outstanding borrowings under its revolving credit facility. The company's borrowing base was reaffirmed at $1.1 billion, with elected commitments remaining at $900 million.

Share Repurchase Program

Gulfport Energy Corporation continued its share repurchase program, buying back approximately 210 thousand shares for about $29.5 million during the first quarter of 2024. Since the inception of the repurchase program in March 2022, the company has repurchased around 4.6 million shares at a weighted average price of $93.77 per share, totaling approximately $429.1 million.

Summarized from source with an LLMView Source

Key figures

26.2%1Y

138%3Y

%5Y

Performance

29.1%1Y

41.7%3Y

40.7%5Y

Volatility