Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

v3.8.0.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the consideration paid by the Company in the Vitruvian Acquisition to acquire the properties and the fair value amount of the assets acquired as of February 17, 2017.
 
 
(In thousands)
Consideration:
 
 
     Cash, net of purchase price adjustments
 
$
1,354,093

     Fair value of Gulfport’s common stock issued
 
464,639

Total consideration
 
$
1,818,732

 
 
 
Estimated fair value of identifiable assets acquired and liabilities assumed:
 
 
     Oil and natural gas properties
 
 
       Proved properties
 
$
362,264

       Unproved properties
 
1,462,957

     Asset retirement obligations
 
(6,489
)
Total fair value of net identifiable assets acquired
 
$
1,818,732

Schedule of Pro Forma Information
The pro forma combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the Vitruvian Acquisition taken place on January 1, 2017; furthermore, the financial information is not intended to be a projection of future results.
 
 
Three months ended
 
 
March 31, 2017
 
 
(In thousands, except share data)
Pro forma revenue
 
$
368,903

Pro forma net income
 
$
175,881

Pro forma earnings per share (basic)
 
$
1.03

Pro forma earnings per share (diluted)
 
$
1.03