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Gulfport Ramps Up Production 196%; Touts Utica Downspacing
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Gulfport Energy Corporation reported financial and operational results for the quarter ended June 30, 2015 and provided an update on its 2015 activities.
Key information for the second quarter includes the following: Net production averaged 473.9 MMcfe per day, an increase of 196% compared to the second quarter of 2014 and an increase of 12% as compared to the first quarter of 2015. Estimated July 2015 net production averaged 574 MMcfe per day, a 21% increase over the second quarter of 2015. Realized natural gas price before the impact of derivatives and including transportation costs averaged $2.23 per Mcf, a $0.41 per Mcf differential to NYMEX during the quarter. Net loss of $31.3 million, or $0.32 per diluted share. Adjusted net income (as defined below) of $250,000, or $0.00 per…- ✓ Full news archive — U.S., Canada & international coverage
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