Gulfport Energy weighs merger with Ascent Resources – Bloomberg (NYSE: GPOR)

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Gulfport Energy (NYSE: GPOR) has discussed merging with closely held oil and gas explorer Ascent Resources, Bloomberg reports.

Gulfport rose 4% Friday to close at $ 87.08, giving it a market value of ~ $ 1.9B; a merger with Ascent Resources would value the combined company at ~ $ 8B, according to the report.

Gulfport and Ascent are both active in the gas-rich Utica Shale of Ohio.

Gulfport Energy recently reported in-line Q4 results while guiding FY 2022 production lower.

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