Gulfport Energy estimates 2012 production to be 2.55M-2.60M BOE Gulfport currently expects 2013 production to be in the range 7.40M to 7.70M BOE. Capital expenditures for exploration and production activities during 2013 are estimated to be in the range of $390M to $410M, excluding potential capital expenditures relating to Grizzly. For 2013, Gulfport projects lease operating expense to be in the range of $5.00-$6.00 per BOE, general and administrative expense to be between $1.50 and $2.50 per BOE, production taxes to be 8%-9% of revenues, and depreciation, depletion and amortization expense to be in the range of $33.00-$35.00 per BOE.
Gulfport Energy price target raised to $60 from $50 at Stifel Stifel increased its price target on Gulfport after the company reported higher than expected Q1 production and agreed to acquire Paloma Partners III, LLC for approximately $300M. The firm keeps a Buy rating on the stock.