Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Q1 2025 Earnings Presentation
27 slides from Gulfport Energy's earnings presentation, May 7, 2025
Slide 1: Investor Presentation May 2025
Investor Presentation May 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 1Q25 Net Production: ~731 MMcfe/day EV / 2026 EBITDA(2,7): 3.8x Liquidity : (3) ~$906
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 Common Stock Repurchase Program Common Stock Repurchases ~$356 million ~$644 million • Common stock repurchase program authorizes purchases up to $1.0 billion Available under Repurchased as of of Gulfport outstanding shares current March 31, 2025, authorization reti
Slide 6: Adjusted Free Cash Flow Generation Potential
Adjusted Free Cash Flow Generation Potential 2025E – 2029E Adjusted Free Cash Flow(1,2,3) Illustration ($MM) Key Highlights $3.50 NYMEX & $70 WTI $4.00 NYMEX & $70 WTI • Sustainable free cash generation underpinned by high-quality assets ~$3.3 Billion • Meaningful adjusted free cash flow profile gen
Slide 7: First Quarter 2025 Results
First Quarter 2025 Results Full Year 2025 1Q2025 Guidance Key Highlights Total 929.3 1.04 – 1.065 • Delivered 1Q2025 performance ahead of Company expectations and Net Production Mcfe/day Bcfe/day on track to execute on our previously provided full year guidance Total Liquids 15.2 18.0 – 21.5 • Reali
Slide 8: Reaffirm Full Year 2025 Guidance
Reaffirm Full Year 2025 Guidance Net Liquids Production Total Net Production Incurred Total Base Capital Reaffirmed Reaffirmed Reaffirmed 18.0 – 20.5 MBbl/day 1,040 – 1,065 MMcfe/day $370 – $395 Million Expect >30%(1) liquids production growth Forecast flat net daily equivalent production to Optimiz
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 1Q2025 Drilling Highlights 1Q2025 Completion Highlights • Best Top Hole days on well Improved drilling efficiency • Exceeded both FY2022 and FY2023 d
Slide 10: 2025 Capital Program and Production Outlook
2025 Capital Program and Production Outlook Capital Program Production • Reallocating drilling activity in 2H2025 to dry gas Utica development to • Anticipate natural gas production to increase by approximately 20% by bolster 2026 development economics and adjusted free cash flow fourth quarter 2025
Slide 11: 2025 Development Plan Overview
2025 Development Plan Overview Utica Key Highlights 4 Well Pad • Extended Utica inventory by >2.5 years through discretionary acreage Spud: 2Q2024 TIL: Late 1Q2025 acquisitions largely within the wet gas area of the play and prioritized for near term development 4 Well Pad • Continue to optimize wel
Slide 12: Utica Liquids-Rich Development Providing Strong Results
Utica Liquids-Rich Development Providing Strong Results Key Highlights Recent Condensate Well Performance • Turned-to-sales in March 2025, the Kage pad is 2,000 Daily Oil Rate Kage Pad Daily Production History 10,000 Gross Gas (Mcf/d) / Flowing Pressure (PSI) Daily Gas Rate located further west in t
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 First Quarter 2025 Overview As of March 31, 2025 $1,000 • $5.3 million of cash equivalents $1,000 No Significant Cash and Liquidity Elected • ~$906 million of liquidity(1) $900 Maturities Commitment Under Credit • $35.0 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: Reaffirm Full Year 2025 Guidance
Reaffirm 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 Capi
Slide 19: Development Plan Overview
Development Plan Overview 2024 Operated Activity 2025 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 Ga
Slide 20: Hedged Production
Hedged Production Natural Gas, Oil and Propane Hedge Summary(1) Natural Gas Oil Propane Swaps Collars Calls Sold Swaps Swaps Avg. Price Volume Volume MMBtu/d Volume MMBtu/d Avg. Put $/MMBtu Avg. Call $/MMBtu Volume MMBtu/d Avg. Call $/MMBtu Avg. Price $/Bbl Volume Bbl/d Avg. Price $/Bbl $/MMBtu Bbl/
Slide 21: Recent Utica Well Performance
Recent Utica Well Performance Gulfport Utica Well Productivity Outperforming Peers(1) Top 20 Performing Utica Wells(1) Normalized Cumulative Production (MMcfe / 1,000’ ft of lateral) 12 Month Normalized Production by Well (MMcfe / 1,000’ of lateral) - 100 200 300 400 500 600 700 - 200 400 600 800 To
Slide 22: Recent SCOOP Well Performance
Recent SCOOP Well Performance Gulfport Oklahoma Well Productivity Outperforming Peers(1) Top 20 Performing SCOOP / STACK Wells(1) Normalized Cumulative Production (MMcfe / 1,000’ ft of lateral) 12 Month Normalized Production by Well (MMcfe / 1,000’ of lateral) - 100 200 300 400 500 600 700 - 200 400
Slide 23: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure equal to net (loss) income, 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 24: 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 25: 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 26: 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 27: Thank You.
Thank You. Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com