Gulfport Energy Releases Other Half of 2Q15 Update – the Bad News

Last week Gulfport Energy, with some 243,000 acres of Utica Shale leases, released half of their second quarter update (see Gulfport Releases Half of 2Q15 Update – The Good News Part). This week they released the full update, the other half dealing with the financial aspects of the company. Like other drillers across the country, Gulfport’s net income (after expenses, accounting this and that, taxes) took a big hit. They lost $31.3 million in 2Q15 vs making $47.9 million in 2Q14. The good news is that Gulfport remains active in the Utica–they plan to have drilled between 49-55 new Utica wells by the end of 2015…

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