Gulfport Energy Corp has been exploring the possibility of selling, according to sources that spoke to Reuters.
The natural gas exploration and production company has been working with an investment bank on its options, following its emergence from bankruptcy earlier this year, and its ability to solicit potential acquisition interest.
Gulfport has a market value of $1.6 billion and owns 266,000 net acres across the Utica shale basin of Ohio and Oklahoma’s SCOOP formation. The company estimates that 90% of its 2021 production will be natural gas with an additional 7% natural gas liquids.
The recent spike in natural gas prices to a seven-year high earlier this month has tempted the gas producer to explore a sale. However, no deal is certain at this time.
Learn more: Reuters > EXCLUSIVE U.S. gas producer Gulfport Energy explores sale – sources
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