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Stock Market & Financial Investment News

News Breaks
April 9, 2014
07:07 EDTGPOR, BNS, RNOGulfport Energy sees Q1 production averaged 27,100 BOEPD ex-items
Gulfport (GPOR) currently estimates that Q1 production averaged approximately 27,100 barrels of oil equivalent per day, which excludes approximately 900 BOEPD during Q1 attributable to the previously announced acquisition of Rhino Resources (RNO) interests in the Utica Shale. The production mix for Q1 was approximately 48% oil and natural gas liquids and 52% natural gas. Proforma of the Rhino transaction, Gulfport estimates that Q1 production averaged approximately 28K BOEPD. In the Canadian Oil Sands, Grizzly Oil Sands, in which Gulfport owns a 24.9% interest, achieved first bitumen production at its first SAGD facility at Algar Lake during Q1. Grizzly currently has seven of the ten well pairs on full steam circulation and expects to have all ten well pairs on full circulation in the coming month. During March, Algar Lake production averaged approximately 30 barrels of bitumen per day. Grizzly continues to see the production ramp as expected during steam circulation. Grizzly's Windell rail transloading facility at Conklin, Alberta commenced operations during Q1 and the first load of dilbit from Algar Lake was hauled by truck to the Windell terminal for sales to the U.S. Gulf Coast market. In connection with the spring redetermination of Gulfport's revolving credit facility, the Bank of Nova Scotia (BNS) has provided a commitment letter that increases Gulfport's borrowing base from $150M-$275M, subject to the approval of the additional banks within the syndicate.
News For GPOR;RNO;BNS From The Last 14 Days
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January 20, 2015
16:06 EDTRNORhino Resources provides operational update for Central Appalachia
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16:06 EDTRNORhino Resources provides operational update for Rhino Western
Rhino's Castle Valley operation continues to perform well and produced approximately 287,000 tons and sold approximately 301,000 tons during the fourth quarter. Castle Valley's sales remain fully contracted through 2016.
16:04 EDTRNORhino Resources provides operational update for Northern Appalachia
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16:04 EDTRNORhino Resources provides operational update for Rhino Eastern
Rhino completed an agreement to dissolve the Rhino Eastern joint venture with Patriot Coal. Patriot received the current Eagle mining operations and related coal reserves that had been previously owned and operated by the Rhino Eastern joint venture. Rhino received approximately 37M tons of premium metallurgical coal reserves not related to the Eagle mining area and a recoupable prepaid royalty balance that will provide value to Rhino when these coal reserves are mined in the future. Rhino anticipates the divestiture of the Rhino Eastern joint venture will improve the Partnership's cash flow by approximately $6M in 2015.
16:03 EDTRNORhino Resources provides operational update for Pennyrile
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07:30 EDTGPORGulfport Energy upgraded to Buy from Accumulate at KLR Group
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