Gulfport Energy Corp. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues of $55,000,000 compared to $65,461,000 a year ago. Income from operation was $14,944,000 compared to $27,263,000 a year ago. Income before income taxes was $72,754,000 compared to $26,869,000 a year ago. Net income was $44,559,000 or $0.61 per basic and diluted common share compared to $26,869,000 or $0.48 per basic and diluted common share a year ago. EBITDA was $98,991,000 compared to $48,593,000 a year ago. Cash provided by operating activities was $35,007,000 compared to $69,429,000 a year ago. Operating cash flow was $35,700,000 compared to $49,767,000 a year ago. For the quarter, the company produced oil and natural gas sales volumes of 575,543 barrels of oil equivalent (BOE), or 6,395 barrels of oil equivalent per day (BOEPD). Net production was 516,954 barrels of oil, 319,658,000 cubic feet (MCF) of natural gas and 223,126 gallons of natural gas liquids (NGL), or 575,543 BOE. The company provided production guidance for the year 2013. For the year, the company forecasted oil equivalent to be in the rage 7,800,000 BOE – 8,100,000 BOE. Lease operating expense to be in the range of $5.00 to $6.00 per BOE. General and administrative expense expected to be in the range $1.50 to $2.50 per BOE. Production taxes to be between 8.0% to 9.0% of revenues. Total budgeted E&P capital expenditures to be in the range $570 - $590.

Gulfport Energy Corp., Q1 2013 Earnings Call, May 08, 2013

Gulfport Energy Corp. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 07, 2013