Last Friday the Ohio Utica’s third-largest (by the number of wells drilled) shale driller, Gulfport Energy, filed its fourth-quarter and full-year 2019 update. The bad news is that the company lost just over $2 billion in 2019. The good news is that the entire loss was an impairment charge, a “paper loss” and not an actual, out-of-pocket money loss. When you dig deeper into the numbers, you’ll find the company actually produced free cash flow of $37.8 million last year.
Last Friday the Ohio Utica’s third-largest (by the number of wells drilled) shale driller, Gulfport Energy, filed its fourth-quarter and full-year 2019 update. The bad news is that the company lost just over $2 billion in 2019. The good news is that the entire loss was an impairment charge, a “paper loss” and not an actual, out-of-pocket money loss. When you dig deeper into the numbers, you’ll find the company actually produced free cash flow of $37.8 million last year.