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Gulfport Energy Corp
|
Q3 2013 Earnings Conference Call
| Jim Palm | Page 6 of 11 |
December 01, 2024
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Document:
"Q3 2013 Earnings Conference Call"
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Third Quarter 2013 Highlights 6 Third Quarter 2013 Production GrowthHighlights • Consistent production growth — Total company production grew 82% during the third quarter over the third quarter of 2012 — Utica Shale production increased 107% during the third quarter over the second quarter of 2013 • Continuing our asset growth — Continued to add acreage in the Utica Shale bringing our total acreage to 157,000 gross (147,350 net) acres (1) under lease • Developing our resources — Currently running a 7 rig drilling program in the Utica Shale and two rigs in Southern Louisiana — 14 wells were spud in the Utica Shale and 10 wells in Southern Louisiana during the quarter • Cash costs decreasing during the quarter — LOE per barrel of oil equivalent decreased to $6.11, or 15% during the third quarter over the second quarter of 2013 — G&A per barrel of oil equivalent decreased to $4.41, or 27% during the third quarter over the second quarter of 2013 4Q12 1Q13 2Q13 3Q13 0.76 0.80 3.52 7.20 5.86 5.59 5.43 5.78 Pro du ction (M Bo ep d) Utica S. Lousiana / Other (1) Utica acreage figure as of 11/5/13. Includes acreage acquisitions to 11/5/13