After a third quarter in which it reported a $14 million net loss, Oklahoma City’s Gulfport Energy Corporation prepares to release fourth quarter results later in the month.
The release of the quarterly and full year 2024 financial and operating results will be made after the close of markets on Tuesday, Feb. 25. A conference call will be held the next day, Wednesday, Feb. 26 at 9 a.m. central time.
Gulfport is coming off a third quarter where it not only reported the $14 million net loss, but $61.8 million of adjusted net income and $178.1 million of adjusted EBITDA which was above the expectations of analyst consensus. During the quarter, the company also generated $189.7 million of net cash from its operating activities and $72.6 million of adjusted free cash flow.
The firm also saw a 68% increase in its total net oil production from its operations in the Appalachia and Anadarko basins. Most of its properties are in eastern Ohio where drilling targets the Utica and Marcellus formations.