Gulfport Energy (NASDAQ: GPOR) reported Q1 EPS of $0.32, $0.14 better than the analyst estimate of $0.18. Revenue for the quarter came in at $333 million versus the consensus estimate of $225.99 million.

Chief Executive Officer and President, Michael G. Moore commented, "The first quarter was an eventful quarter for Gulfport, experiencing yet another solid quarter operationally, driven by our assets in the Utica Shale and closing of the acquisition of the SCOOP assets from Vitruvian, which provides Gulfport sizeable core positions in two of North America’s lowest cost natural gas basins. Subsequent to the quarter, we completed and turned-to-sales two gross SCOOP wells located in the wet gas window in Southern Grady County, marking Gulfport’s first completions in the play. We have witnessed several key indicators during the flowback of the wells that indicate these wells to be top performers relative to their offsets, outperforming the average of direct offset producers by approximately 30% and outperforming our current SCOOP wet gas type curve by as much as 35%. Bear in mind, we are still early in the flowback process and would expect these wells to continue to clean up and potentially improve further beyond the rates provided today. We are extremely pleased with the results from these new wells and would expect both of the wells to rank among the top wells completed in the play to date."

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