Gulfport to unveil 1Q results

Gulfport 2Q Update – Turns Profitable $216M, No Talk of Selling | Marcellus  Drilling News


After reporting nearly $749 million in net income in the fourth quarter, Oklahoma City-based Gulfport Energy Corporation plans to release its first quarter earnings report May 2.

The company said the release will be on that Tuesday after the market closes. A teleconference and webcast will be held the next day, Wednesday, May 3 at 8 a.m. Central Time where leadership will discuss the results.

Gulfport’s success in the fourth quarter and for all of 2022 was strong enough the firm increased its borrowing base to $1 billion and expanded its common stock repurchase program from $300 million to $400 million.

At the time of its fourth quarter earnings release, Gulfport leaders forecast turning 22 to 24 gross wells to sales including 2 in the Marcellus, 2 in the SCOOP and the remaining wells targeting the Utica. The company also expressed high hopes for its Marcellus delineation test planned in Belmont County, Ohio for unlocking what it called  “valuable inventory underlying current acreage position”