Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Q2 2025 Earnings Presentation
25 slides from Gulfport Energy's earnings presentation, Aug 6, 2025
Slide 1: Investor Presentation August 2025
Investor Presentation August 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 YE24 Net Reservoir Acres(6): ~228,500 Market Cap : (1) $3.1 Billion YE24 Proved Reserves: 3.0 Net Tcfe Enterprise Value (‘EV’)(2): $3.8 Billion 2Q25 Net Production: ~801 MMcfe/day EV / 2026 EBITDA(2,7): 3.6x Liquidity : (3) ~$885
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 in Utica, Marcellus and SCOOP liquids-rich development and Natural Gas Weighted with prolific Utica dry gas development Liqu
Slide 5: Delivering Value For Shareholders
Delivering Value For Shareholders Equity Repurchase Program Equity Repurchases ~$791 million ~$709 million • To support the redemption of the preferred equity and enable Gulfport to Available under Repurchased as of continue its ongoing share repurchase program, increased equity repurchase increased
Slide 6: Redemption of Preferred Shares Accelerates Equity Repurchases
Redemption of Preferred Shares Accelerates Equity Repurchases Potential Impact of Preferred Redemption(1,2) Benefits of the Redemption Common Shares (in millions) Equity Repurchases ($ in millions) $1,500 ~19.8 ~2.2 Consistent with Ongoing Shareholder Return Framework ~17.6 Available Capacity ~$390(
Slide 7: Adjusted Free Cash Flow Generation Potential
Adjusted Free Cash Flow Generation Potential 2025E – 2029E Adjusted Free Cash Flow(1,2,3) Illustration ($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 8: Second Quarter 2025 Results
Second Quarter 2025 Results Full Year 2025 Key Highlights 2Q2025 1H2025 Guidance Total 1,006.3 968.0 1.04 – 1.065 • Turned to sales 14 gross wells, including 8 wells in the Utica, 4 Net Production MMcfe/day MMcfe/day Bcfe/day wells the Ohio Marcellus and 2 wells in the SCOOP Total Liquids 19.2 17.2
Slide 9: Significant Improvement in Operational Efficiencies
Significant Improvement in Operational Efficiencies Ohio Drilling and Completion Efficiencies Average Total Footage per Day Average Frac Pumping Hours Improved drilling efficiency Improved completion efficiency by ~89% since 2022 and ~22% over FY2024 by ~30% since 2022 and maintaining top decile per
Slide 10: 2025 Capital Program and Production Outlook
2025 Capital Program and Production Outlook Capital Program Production • Allocating $75 – $100 million to targeted discretionary acreage • Turned-to-sales 21 gross wells in 1H2025 across all five of development acquisitions, potentially expanding inventory runway by >2 years(1) areas (Utica condensa
Slide 11: 2025 Development Plan Overview
2025 Development Plan Overview Utica Key Highlights 4 Well Pad • Extended Utica inventory by >2.5 years through 2023 - 2024 discretionary Spud: 2Q2024 TIL: Late 1Q2025 acreage acquisitions largely within the wet gas area of the play • Recently brought online 4-well Utica wet gas pad in acquired area
Slide 12: Liquids-Rich Development Providing Strong Results
Liquids-Rich Development Providing Strong Results Key Highlights Kage Pad (Normalized to 15,000’ LL) Lake VII Pad (Normalized to 15,000’ LL) Kage Pad Daily Production History Avg IP90(1): ~2,755 Boe/d Avg IP90(1): ~1,797 Boe/d 56% Oil, 70% Liquids 50% Oil, 67% Liquids 2,000 Kage Pad Daily Production
Slide 13: 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 from wellhead provides access to premium basin egress pipeli
Slide 14: Strong Capital Structure and Financial Profile
Strong Capital Structure and Financial Profile Second Quarter 2025 Overview As of June 30, 2025 • $3.8 million of cash equivalents $1,000 Cash and Liquidity $1,000 No Significant Elected • ~$885 million of liquidity(1) $900 Maturities Commitment Under Credit • $55.0 million borrowings under credit f
Slide 15: Environmental
Focused on Continuous Improvement and Responsible Stewardship • Achieved overall “A” rating for Appalachia assets from MiQ for For additional information Improved second consecutive year please refer to Gulfport’s Corporate Sustainability Report Methane Intensity Rate Environmental • Lowered Scope 1
Slide 16: Appendix
Gulfport Appendix la
Slide 17: 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 18: Full Year 2025 Guidance
Full Year 2025 Guidance FY 2025E FY 2025E Production Guidance Incurred Capital Expenditures – $ millions Guidance Net Daily Gas Equivalent – MMcfe/day 1,040 1,065 Operated D&C $335 $355 Net Daily Liquids Production – MBbls/day 18.0 20.5 Maintenance Leasehold and Land $35 $40 Total Base Capital Expen
Slide 19: Development Plan Overview
Development Plan Overview 2024 Operated Activity 2025E Operated Activity Well Count Lateral Well Count Lateral Average Net Lateral Length Drilled Utica Dry Gas 11 gross (10.8 net) 15,800’ Utica Dry Gas 14 gross (14.0 net) 16,900’ TILs 17,100 Utica Wet Gas 14,000 3 gross (3.0 net) 17,800’ Utica Wet G
Slide 20: 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 21: 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, and accretion, net non-cash derivative loss (gain), non-recu
Slide 22: 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 23: Recurring General and Administrative 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 24: Present Value of Estimated Future Net Revenue
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 25: Thank You
Thank You. Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com