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Stock Market & Financial Investment News

News Breaks
December 17, 2012
16:51 EDTGPORGulfport Energy provides operational update
Grizzly Oil Sands ULC, a company in which Gulfport (GPOR) holds an approximate 25% interest, announced that it has submitted a resource application to the Alberta Energy Resources Conservation Board for the development of a 12,000 barrel per day oil sands project at Thickwood. Grizzly's Thickwood Thermal project is expected to produce 12,000 bpd of bitumen for up to 40 years utilizing both steam-assisted gravity drainage and cyclic steam stimulation recovery technologies. The project will consist of: a plant site consisting of two 6,000 bpd central processing facilities; four SAGD well pads (split pads) and up to 33 CSS well pads; and associated facilities and infrastructure. Following approval, which is expected within 12-18 months of application submission, Grizzly anticipates the period leading up to first production to be approximately 18 months.
News For GPOR From The Last 14 Days
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April 16, 2014
08:09 EDTGPORGulfport Energy price target raised to $100 from $85 at Wunderlich
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April 15, 2014
07:22 EDTGPORGlobal Hunter Securities to hold a conference
1:1 Dallas Energy Day is being held in Dallas on April 15.
April 9, 2014
07:07 EDTGPORGulfport 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.

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