Commodities
Gulfport Energy Q1 Production Climbs, Sets 2026 Growth and Drilling Plans
Gulfport Energy Corp (GPOR) reported Q1 earnings Tuesday, showing total production of 996.8 million cubic feet equivalent per day, up from 929.3 MMcfe/d a year earlier.The company produced 905,770 Mcf/d of natural gas for the quarter ended Mar. 31, compared with 837,816 Mcf/d a year earlier, reflecting higher gas output across its core operating areas.Oil and condensate production declined to 3,738 barrels per day in Q1 from 5,282 b/d a year earlier, while natural gas liquids production rose to 11,432 b/d from 9,962 b/d, the company said.Gulfport generated about 833 MMcfe/d from its Utica and Marcellus assets in Q1, while SCOOP production was 164 MMcfe/d, the company added.The company expects full-year production to range from 1.030 to 1.055 Bcfe/d, it said.Gulfport plans to deploy $400 million to $430 million in total capital during 2026, up from about $390 million in 2025, as it increases drilling and completion activity across core operating areas, the company said.The company will drill 18 gross wells and bring 20 wells to sales in the Utica, drill six gross wells and place four wells into production in the Marcellus, and target two gross wells in the SCOOP play during 2026, it said.Gulfport expanded its inventory to more than 700 gross operated locations, up from about 560 locations in 2024, supporting roughly 15 years of drilling inventory, the company added.Gulfport improved drilling efficiency across its operations, increasing drilling footage per day in the Marcellus by 50% and achieving SCOOP drilling cycle times that were 25% better than internal expectations, the company said.
$GPOR