Eagle & Beagle for Dec. 2

Eagle & Beagle for Dec. 2
by Don Mecoy Modified: November 30, 2012 at 10:16 pm •  Published: December 2, 2012
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Eagle & Beagle

Eagle

Our eagle this week benefitted from having its talons firmly in the ground — actually well below ground.

The ground in question is in the Utica Shale, deep under eastern Ohio, where Gulfport Energy Corp. has found a goodly amount of petroleum products including natural gas, natural gas liquids and condensate.

When the Oklahoma City energy firm late Tuesday disclosed recent test results from a Utica Shale well, the company's shares jumped.

GPOR shares, which closed Tuesday at $31.73, opened Wednesday at $33.04. By week's end, the stock had gained 15 percent to finish at $38.04.

That's the highest closing price for Gulfport Energy Shares in more than a year.

Beagle

It was a mostly positive week on Wall Street, and that was reflected in state stocks where gainers outpaced losers.

And the biggest loser, Tulsa-based WPX Energy, slipped a modest 4.5 percent over the past five trading days. The decline puts the stock at $15.79, or just about six bits more than WPX Director David Work paid for a couple of thousand shares early last month.

If you like to follow insider trades or you're a fan of the oil and gas firm's production footprint — which includes the Piceance Basin, Bakken Shale and Marcellus Shale — this might be an opportune time to stake a claim.

But, as always, perform your due diligence to determine your comfort with this or any potential purchase. This one, after all, is closer to its 52-week low than its 52-week high.

Eagle & Beagle is a weekly look at the state's high-performing (eagle) and low-performing (beagle) by Business Writer Don Mecoy.


by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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