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Gulfport IDs 2015 Budget; Ups 4Q Utica Production 450%
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Gulfport Energy Corporation reported financial and operational results for the quarter and year ended December 31, 2014 and provided an update on its 2015 activities.
Highlights: Full-year 2014 production totaled 87.7 Bcfe, or 240.3 MMcfepd, in 2014, as compared to 24.7 Bcfe, or 67.7 MMcfepd, in 2013, representing an increase of 255% year-over-year. Fourth quarter 2014 production totaled 35.1 Bcfe, or 381.9 MMcfepd, in the fourth quarter of 2014, as compared to 9.2 Bcfe, or 100.0 MMcfepd, in the fourth quarter of 2013, representing an increase of 282% quarter-over-quarter. Net income of $110.1 million, or $1.28 per diluted share, in the fourth quarter of 2014. Adjusted net income (as defined below) of $10.7 million, or $0.12 per diluted share, in the fourth quarter of 2014. Gulfport spud…Finish this article — free account or subscription
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