After delivering increased production of natural gas in the first quarter along with $523.1 million of net income and $229.7 million of adjusted EBITDA, Oklahoma City’s Gulfport Energy Corporation plans a release next month of its second quarter earnings report.
Investors will learn the results when they are released after the market closes on Tuesday, August 1. Leaders of the natural-gas focused company will discuss the earnings report the following day at 8 a.m. Central Time, Wednesday, Aug. 2, 2023.
In the first quarter, Gulfport generated $304.1 million net cash from operating activities and reduced its total debt outstanding by $145 million compared to Dec. 31, 2022. It had no borrowings under the revolving credit facility aty the end of March of this year.
A redetermination of the revolving credity facility resulted in a borrowing base increase from $1 billion to $1.1 billion. The company also managed to repurchase 459.1 thousand shares for $32.9 million during the first quarter.
