Gulfport Energy reports Q2 adjusted EBITDA $144.5M

Delivered total net production of 1,039.3 MMcfe per day. The company said, “This was another solid quarter for Gulfport, delivering outperformance relative to analyst consensus estimates for production, per unit operating costs, adjusted EBITDA and capital expenditures. We continued to exhibit strong operational execution and realized consistent cycle time improvements on the operational planning, drilling and completions front. These efficiencies resulted in accelerated turn in line dates for all 13 gross wells brought online during the second quarter, with the 11 gross Utica wells averaging a pad turn-in-line date two weeks ahead of schedule. The team’s focus on efficiencies and continuous improvements, in addition to our base production performance, contributed to the second quarter production results and led us to positively update our full year production and per unit operating expense guidance. Subsequent to June 30, the drilling team spud Gulfport’s first Marcellus delineation pad in Belmont County, Ohio. We look forward to bringing this pad online during the fourth quarter of 2023 and further discussing this development later in the year.”