First Choice Energy

Friday, November 8, 2019

Gulfport Energy Looking to Sell Some Utica Assets

From the Times Reporter:
Gulfport Energy is looking to sell some of its interests in the Utica Shale. 
The company announced the plan ahead of its Friday conference call with investors to discuss third-quarter earnings. 
Gulfport said proceeds from its sale of non-operated interests would offset higher-than-anticipated spending this year in the Utica. The company expected to have an agreement on the sale before the end of the year, according to a press release.

Oklahoma City-based Gulfport lost $48.8 million, or 31 cents per diluted share during the quarter. 
The company’s average production was equivalent to 1.5 billion cubic feet of natural gas per day. Utica wells accounted for 80 percent of production.
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