Gulfport Sees FY24 Net Production 1.055B MMcfe - 1.07B MMcfe
Portfolio Pulse from Benzinga Newsdesk
Gulfport Energy has narrowed its full-year 2024 net production guidance to 1,055 MMcfe - 1,070 MMcfe per day. The company forecasts over $25 million in capital expenditure savings from operating efficiencies and plans to allocate approximately $45 million to targeted discretionary acreage acquisitions. Gulfport also reiterates its plan to use substantially all 2024 adjusted free cash flow for common share repurchases after discretionary acreage acquisitions.
August 06, 2024 | 9:21 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Gulfport Energy has narrowed its full-year 2024 net production guidance and forecasts significant capital expenditure savings. The company plans to allocate savings to targeted discretionary acreage acquisitions and use most of its 2024 adjusted free cash flow for share repurchases.
The narrowing of production guidance and forecasted capital expenditure savings are positive indicators of operational efficiency. The allocation of savings to acquisitions and share repurchases suggests a focus on growth and returning value to shareholders, likely boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100