Two more operators with dominant footprints in the Appalachian Basin have announced plans to curb some production as oil prices remain low and energy demand is weak because of the Covid-19 pandemic.
Articles from Gulfport
Gulfport Energy Corp. plans to slash spending to the bone this year and cut annual production in the process as it wrestles with low natural gas prices and a restive shareholder pushing to shake up the board.
Gulfport Energy Corp. has announced another round of noncore asset sales with agreements to sell for nearly $80 million water infrastructure assets in the Midcontinent and stakes in the Appalachian Basin.
Gulfport Energy Corp. inked a deal to sell noncore assets in the Bakken Shale for $8 million, management announced along with the third quarter earnings results.
Gulfport Energy Corp. is facing resistance from another investor that claims the underperforming producer should immediately announce a 25% reduction in spending for 2020.
Gulfport Energy Corp. has dumped more noncore assets as part of a broader effort to simplify its portfolio and better control costs, announcing the sale of its legacy assets on the Gulf Coast to an undisclosed buyer for $54.1 million.
Gulfport Energy Corp. reported increased production during the second quarter as it turned more wells to sales following a slower stretch of completions activity at the end of 2018.
Gulfport Energy Corp. said Friday it is making progress to simplify its portfolio as it zeros in on core assets in Ohio’s Utica Shale and the South Central Oklahoma Oil Province (SCOOP).
Gulfport Energy Corp.’s production dipped in the first quarter following a slower operational period in late 2018 that the company anticipated ahead of a ramp in activity that started earlier this year.
Gulfport Energy Corp. plans to slash spending this year and keep production flat to 2018 levels with a program that generates free cash flow and showcases capital discipline in response to market volatility.