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January 24, 2013
07:12 EDTGPORGulfport Energy price target raised to $56 from $46 at Jefferies
Jefferies raised its price target for Gulfport Energy citing more confidence in its assumptions for Utica after meeting with management. The firm says the company's Utica results to date point to strong productivity and keeps a Buy rating on the stock.
News For GPOR From The Last 14 Days
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October 8, 2015
08:11 EDTGPORGulfport Energy announces Utica Shale midstream JV with Rice Energy
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08:03 EDTGPORGulfport Energy and Rice Energy form Utica Shale midstream joint venture
Gulfport Energy (GPOR) has executed a Letter of Intent with Rice Midstream Holdings, a wholly owned subsidiary of Rice Energy (RICE), to form a midstream joint venture to develop natural gas gathering and water services assets to support Gulfport's dry gas Utica Shale development in eastern Belmont County and Monroe County, Ohio. The JV will be supported by long-term, fee-based service agreements with Gulfport. Gulfport will own 25% of the JV and Rice will own the remaining 75% of the JV. Rice will be responsible for constructing and operating the JV's assets. Gulfport and Rice plan to invest approximately $520M to develop gathering and compression assets and $120Mfor water assets within the JV over the next six years. Initial construction of the system is expected to begin immediately and first deliveries are planned for the middle of 2016. Gulfport will have the right to participate on a proportionate basis in any direct or indirect sale transactions by Rice, which includes potential drop down transactions with Rice Midstream Partners LP.

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