GPOR - Gulfport Energy: Strong Improvements In Utica Capital Efficiency Drive Share Performance
2024-04-09 09:37:07 ET
Summary
- Gulfport is projected to generate $290 million in free cash flow in 2024 at current strip of $2.40 NYMEX gas, with most of that coming from its hedges.
- Gulfport expects to keep production roughly flat in 2024 with $400 million in capex (including maintenance leasehold capex), down 10% from 2023 levels.
- Gulfport's improvements in Utica capital efficiency have been excellent, with costs down significantly and EURs going up.
- Gulfport's strong share performance leads me to believe its shares are now fairly valued without further noticeable capital efficiency improvements.
Gulfport Energy ( GPOR ) is now projected to generate $290 million in free cash flow in 2024 at current strip prices. Since natural gas strip prices (at $2.40 for 2024) are quite low, most of Gulfport's projected 2024 free cash flow comes from its hedges....
Gulfport Energy: Strong Improvements In Utica Capital Efficiency Drive Share Performance