Gulfport Energy profits in second quarter
Wednesday, August 8, 2018
In the second quarter of this year, Gulfport Energy posted a profit of $111.3 million, or 64 cents per diluted share, on revenue of $252.7 million, according to the Canton Repository.
The company’s production grew 30 percent from last year to 108 trillion cubic feet equivalent of natural gas. Nearly 90 percent of its production came from its Utica Shale wells.
Additionally, Gulfport drilled 9 wells during the quarter in the Utica Shale, giving the company 21 of its 35 planned wells for the year.
Learn more: Canton Repository > Gulfport Energy posts profit
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.