OKLAHOMA CITY, July 23, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) ("Gulfport") today provides an operational update and schedules second quarter 2013 financial and operational results conference call.
- Gulfport produced oil and natural gas sales volumes of 815,300 barrels of oil equivalent ("BOE"), or 8,959 barrels of oil equivalent per day ("BOEPD"), compared to the company's previously estimated guidance range of 8,500 to 9,000 BOEPD.
|GULFPORT ENERGY CORPORATION|
|Production Volumes: (1)||2Q2013||2Q2012||YTD 2013||YTD 2012|
|Natural Gas (MMcf)||1,414.8||216.1||1,734.5||426.8|
|Oil equivalents (MBOE)||815.3||663.6||1,390.8||1,308.7|
|Average Realized Price:|
|Oil (per Bbl)||$113.98||$106.86||$108.43||$107.20|
|Natural Gas (per Mcf)||$4.80||$2.50||$4.76||$2.70|
|NGL (per Gal)||$1.29||$0.86||$1.31||$1.05|
|Oil equivalents (BOE)||$86.10||$99.84||$89.92||$100.62|
|(1) Gulfport's production during the second quarter of 2012 includes 68,272 barrels of oil, 93,049 MCF of natural gas and 792,238 gallons of NGLs, or 102,643 BOE attributable to its oil and natural gas assets in the Permian Basin. In October 2012, Gulfport contributed these assets to Diamondback. As a result, no Permian Basin production is included in Gulfport's production volumes during the second quarter of 2013|
- Gulfport increased its acreage position in the core of the play and currently has approximately 145,000 gross acres under lease.
- Gulfport's McCort 1-28H well was recently placed on production in the Utica Shale. The McCort 1-28H produced at an average seven-day sales rate of 9.6 million cubic feet ("MMCF") per day of natural gas and 835 barrels of NGLs per day assuming full ethane recovery and a natural gas shrink of 14%, or 2,218 BOEPD.
- Gulfport's McCort 2-28H well was recently placed on production in the Utica Shale. The McCort 2-28H produced at an average seven-day sales rate of 11.6 MMCF per day of natural gas, 21 barrels of condensate per day, and 1,009 barrels of NGLs per day assuming full ethane recovery and a natural gas shrink of 14%, or 2,701 BOEPD.