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News Breaks | | | | February 11, 2013 | | 07:51 EDT |  | GPOR | Gulfport Energy proposes acquisition of additional Utica acreage for $220M
Gulfport Energy announced its proposed acquisition of additional working interests in the Utica Shale in Eastern Ohio. Gulfport has entered into a definitive agreement to purchase approximately 22,000 net acres in the Utica Shale in Eastern Ohio from Windsor Ohio, an affiliate of Wexford Capital LP, for approximately $220M, increasing Gulfport's leasehold interests in the Utica Shale to approximately 137,000 gross acres. This acquisition excludes Windsor Ohio's interest in 14 existing wells and 16 proposed future wells and certain acreage surrounding these wells. The proposed transaction, which is expected to close prior to the end of February, will increase Gulfport's working interest in the acreage to 93.8%. After giving effect to this acquisition, Gulfport currently estimates that its 2013 net production will be approximately 21,370 to 22,192 barrels of oil equivalent per day. Gulfport will continue to serve as operator of its acreage in the Utica Shale. The transaction was approved by a special committee of Gulfport's board. | |
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News For GPOR From The Last 14 Days Check below for free stories on GPOR the last two weeks. |
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| May 20, 2013 | | 09:13 EDT |  | GPOR | Gulfport Energy price target raised to $61 from $50 at Stephens
 Subscribe for More Information | | | May 15, 2013 | | 17:18 EDT | | GPOR | BP Capital gives quarterly update on stakes
Subscribe for More Information | | | May 9, 2013 | | 05:40 EDT | | GPOR | Gulfport Energy price target raised to $70 from $54 at Wunderlich
Wunderlich raised its price target for Gulfport Energy citing the company's Utica assets following its Q1 results and keeps a Buy rating on the stock. | |
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