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How Did Gulfport Energy’s Revenues Trend in 2Q17?

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2Q17 revenues

For 2Q17, Gulfport Energy (GPOR) reported revenues of ~$259 million, much lower than the Wall Street analyst consensus for revenues of ~$277 million. For 2Q17, GPOR reported natural gas (UNG) revenues of ~$205 million, crude oil and condensate (USO) revenues of ~$29 million, and natural gas liquids revenues of ~$24 million, which means the majority of, or ~79% of GPOR’s revenues came from natural gas sales.

Sequentially, GPOR’s 2Q17 revenues are higher by ~12% when compared with 1Q17 revenues of ~$232 million. Even on a year-over-year basis, GPOR’s 2Q17 revenues are higher by ~138% when compared with 2Q16 revenues of ~$109 million.

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A year-over-year increase in Gulfport Energy’s 2Q17 production coupled with higher realized prices for natural gas (UNG), crude oil (USO) and natural gas liquids impacted GPOR’s revenues positively. GPOR’s natural gas realized price rose to $2.48 per mcf (thousand cubic feet) in 2Q17 from $1.44 per mcf (thousand cubic feet) in 2Q16. We’ll study GPOR’s production in the next part.

How GPOR’s quarterly revenues were trending in 2017

For 1Q17, Gulfport Energy (GPOR) reported revenues of ~$232 million, slightly higher than the Wall Street analyst consensus for revenues of ~$226 million. For 1Q17, GPOR reported natural gas (UNG) revenues of ~$177 million, crude oil and condensate (USO) revenues of ~$24 million, and natural gas liquids revenues of ~$31 million. This means ~76% of GPOR’s revenues came from natural gas sales.

Peers

Devon Energy (DVN) reported revenues of ~$3.15 billion, lower than the Wall Street analyst consensus for revenues of ~$3.25 billion. The ETF ISE-Revere Natural Gas Index Fund (FCG) invests in natural gas producers, whereas the Vanguard Energy ETF (VDE) invests in the broader energy market.

Now let’s take a look at Gulfport Energy’s 2Q17 operational performance.

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