Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Q3 2025 Earnings Presentation
26 slides from Gulfport Energy's earnings presentation, Nov 5, 2025
Slide 1: Investor Presentation
Investor Presentation November 2025
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertain
Slide 3: Gulfport Energy Overview
Gulfport Energy Overview Key Highlights Utica and Marcellus NYSE: GPOR 3Q25 Net Reservoir Acres(6): ~249,000 Market Cap(1): $3.5 Billion YE24 Proved Reserves: 3.0 Net Tcfe Enterprise Value (‘EV’) :(2) $4.2 Billion 3Q25 Net Production: ~917 MMcfe/day EV / 2026 EBITDA : (2,7) 4.2x Liquidity(3): ~$903
Slide 4: Focused Strategy and Compelling Valuation
Focused Strategy and Compelling Valuation High Quality Asset Base • Multi-basin portfolio provides diversification and capital allocation optionality • Capture value accretion through significant expansion of undeveloped inventory, driven by Natural Gas Weighted with targeted discretionary acreage a
Slide 5: Delivering Value For Shareholders
Delivering Value For Shareholders Equity Repurchase Program Equity Repurchases ~$715 million ~$785 million • Consistent shareholder return framework and equity repurchase program Available under Repurchased as of authorizes purchases up to $1.5 billion increased September 30, 2025, authorization $1.
Slide 6: Adjusted Free Cash Flow Generation Potential
Adjusted Free Cash Flow Generation Potential 2026E – 2030E Adjusted Free Cash Flow(1,2,3) Illustration ($MM) Key Highlights $3.75 NYMEX & $65 WTI $4.25 NYMEX & $65 WTI • Sustainable free cash generation underpinned by high-quality assets ~$3.6 ~$2.8 Billion • Meaningful adjusted free cash flow profi
Slide 7: Significant Low Break-Even Inventory Expansion
Significant Low Break-Even Inventory Expansion Key Highlights >40% Increase in Gross Undeveloped Inventory Since 2022(1) • Since year-end 2022, Gulfport’s gross undeveloped inventory has Continuously adding high-quality inventory through increased by more than 40%, driven by targeted discretionary a
Slide 8: Inventory Expansion in Ohio Marcellus
Inventory Expansion in Ohio Marcellus Marcellus Key Highlights Recent Marcellus Core Well Performance North Average Pad Well Performance Normalized to 15,000’ Lateral • Recent peer activity combined with Gulfport’s previous 100 Yankee Cumulative Oil 2,000 development has expanded Marcellus resource
Slide 9: Inventory Expansion Through U-Development
Inventory Expansion Through U-Development Key Highlights • Applying operational best practices to optimally develop acreage and enhance economics compared to short lateral development • Recently reached total depth on first two U-development wells, located in the core dry gas window of eastern Belmo
Slide 10: Third Quarter 2025 Results
Third Quarter 2025 Results 3Q2025 YTD2025 Key Highlights Total 1,119.7 1,019.1 • Expanded undeveloped Marcellus inventory by ~125 gross locations, an increase Net Production MMcfe/day MMcfe/day of 200% in Ohio Marcellus inventory Total Liquids 22.0 18.8 • Total net inventory of ~15 years with break-
Slide 11: 2025 Capital Program and Production Outlook
2025 Capital Program and Production Outlook Capital Program Production • Budgeting ~$390 million of total base capital expenditures • Forecast full year total net daily production of ~1.04 Bcfe per day • Allocating ~$30 million toward discretionary appraisal projects, including • Net daily liquids p
Slide 12: 2025 Development Plan Overview
2025 Development Plan Overview Utica Key Highlights 4-Well Pad • Extended Utica inventory by >3.5 years(1) since year-end 2022 Spud: 2Q2024 TIL: 1Q2025 • Discretionary acreage acquisitions added >2.5 years(1) since 2022, largely within the wet gas area of the play 4-Well Pad • Evaluation of U-develo
Slide 13: 2025 Development Plan Overview
2025 Development Plan Overview 2025 Operated Activity 2025E Operated Activity PREVIOUS UPDATED Well Count Lateral Well Count Lateral Utica Dry Gas 14 gross (14.0 net) 16,900’ Utica Dry Gas 16 gross (16.0 net) 14,700’ Utica Wet Gas 1 gross (1.0 net) 15,700’ Utica Wet Gas 1 gross (1.0 net) 15,700’ Spu
Slide 14: Maintaining Best-in-Class Operational Efficiencies
Maintaining Best-in-Class Operational Efficiencies Ohio Drilling and Completion Efficiencies Average Total Footage per Day Average Frac Pumping Hours Improved drilling efficiency Improved completion efficiency by ~83% since 2022 and ~18% over FY2024 by ~27% since 2022 and maintaining top decile perf
Slide 15: Advantaged Firm Portfolio Provides Access to Diverse Markets
Advantaged Firm Portfolio Provides Access to Diverse Markets • Diversified and right-sized takeaway capacity • 625,000 MMBtu/d(1) of firm takeaway from the Utica • 200,000 MMBtu/d(1) of firm takeaway from the SCOOP • Strategic connectivity to premium basin egress pipelines provides netback enhanceme
Slide 16: Strong Capital Structure and Financial Profile
Strong Capital Structure and Financial Profile Third Quarter 2025 Overview As of September 30, 2025 • $3.4 million of cash equivalents $1,000 Cash and Liquidity $1,000 No Maturities Elected • ~$903 million of liquidity(1) $900 Until 2028 Commitment Under Credit • $51.0 million borrowings under credi
Slide 17: Focused on Continuous Improvement and Responsible Stewardship
Focused on Continuous Improvement and Responsible Stewardship • Achieved overall “A” rating for Appalachia assets from MiQ for For additional information Improved third consecutive year please refer to Gulfport’s Corporate Sustainability Report Methane Intensity Rate Environmental • Applied key lear
Slide 18: Appendix
Gulfport Appendix la
Slide 19: 2024 Proved Reserve Summary
2024 Proved Reserve Summary Net Reserves as of December 31, 2024(1) Gas Oil NGL Total (Bcf) (MMBbls) (MMBbls) (Bcfe) Proved Developed Producing 1,844 7 29 2,061 Proved Developed Non-Producing 34 0 2 47 Proved Undeveloped(2) 1,478 15 49 1,861 Total Proved Reserves 3,356 22 80 3,969 Proved Reserve Com
Slide 20: Updated Full Year 2025 Guidance
Updated Full Year 2025 Guidance FY 2025E FY 2025E Production Guidance Incurred Capital Expenditures – $ millions Guidance Net Daily Gas Equivalent – MMcfe/day ~1,040 Operated Base D&C Capital Expenditures ~$355 Net Daily Liquids Production – MBbls/day 18.0 20.5 Maintenance Land and Leasehold ~$35 %
Slide 21: Hedged Production
Hedged Production Natural Gas, Oil and Propane Hedge Summary(1) Natural Gas Oil Propane Swaps Collars Calls Sold Swaps Swaps Volume Volume MMBtu/d Avg. Price $/MMBtu Volume MMBtu/d Avg. Put $/MMBtu Avg. Call $/MMBtu Volume MMBtu/d Avg. Call $/MMBtu Avg. Price $/Bbl Volume Bbl/d Avg. Price $/Bbl Bbl/
Slide 22: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, plus interest expense, income tax expense (benefit), depreciation, depletion and amortization, impairment and accretion, net non-cash derivative loss (gain
Slide 23: Adjusted Free Cash Flow
Adjusted Free Cash Flow Adjusted free cash flow is a non-GAAP measure defined as adjusted EBITDA plus certain non-cash items that are included in net cash provided by (used in) operating activities but excluded from adjusted EBITDA less interest expense, current income tax expense (benefit), capital
Slide 24: Recurring General and Administrative (G&A) Expense
Recurring General and Administrative (G&A) Expense Recurring general and administrative expense is a non-GAAP financial measure equal to general and administrative expense (GAAP) plus capitalized general and administrative expense, less non-recurring general and administrative expenses comprised of
Slide 25: Present value of estimated future net revenue (PV-10)
Present value of estimated future net revenue (PV-10) PV – 10 is a non-GAAP measure derived from standardized measure of discounted future new cash flows (GAAP). Management uses PV-10, which is calculated without deducting estimated future income tax expenses, as a measure of the value of the Compan
Slide 26: Thank You.
Thank You. Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com