After making progress in the third quarter, Gulfport Energy Corporation prepares to release its fourth quarter and full-year 2023 financial reports later in the month.
The release will be made on Tuesday, Feb. 27 after the close of markets. The next day, Feb. 28, Gulfport management will hold a conference call at 8 a.m. central time to discuss the results.
The Oklahoma City company reported $608.4 million in net income and $160 million of adjusted EBITDA when the 3rd quarter results were released last fall. It generated $156.3 million in net cash. The company also expanded its common stock repurchase authorization by 63% to $650 million.
“Gulfport continued to make steady progress in the third quarter, demonstrated by our strong production profile, robust margins, improvement in operational efficiencies and cycle times and the continued return of capital to shareholders through our common share repurchase program,” stated John Reinhart, President and CEO at the time of the third quarter release.
At the time, the company realized more than $35 million in capital savings on its full year drilling and completion budget and decided to reinvest the savings into the company assets and increasing its working interests.
