Economics : Type Curve

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Recent Highlights Reduced total debt by 276 million with retirement of 2018 bonds, leaving no significant near-term maturities Financial Added to 2018 hedge position with 407 Bcf hedged at an average floor price of Discipline approximately 3/Mcf with upside potential on over 72% of volumes Trailing 12 month net debt to EBITDA(1) improved by 41% compared to 2Q 2016 Seymour 1H, with a lateral length of over 12,000 ft and an IP of over 37 MMcf per day, demonstrating productivity among the top 10% of the Companys wells drilled to date in Bradford County, Pennsylvania on a completed lateral length adjusted basis Well First Company-drilled Utica well has exceeded 2 Bcf of cumulative production and is Results producing at a flat rate of 15 MMcf/d, with current casing pressure of 6,100 psi Ritchea pad (Wetzel County, WV) wells completed with enhanced completions outperforming offsets by 40% after the first 160 days on production Total net production of 222 Bcfe, up 9% compared to 1Q 2017 Q2 Appalachian net production of 140 Bcfe, up 9% compared to 2Q 2016 Results Realized 119% increase in net cash flow(1) compared to Q2 2016 Added 140 MMcf/d of new takeaway capacity in NE Appalachia (1) Non-GAAP financial measure. See net cash flow and net debt to EBITDA explanations and reconciliations on pages 40 and 43. 3
Southwestern Energy Co.
August 2017

Utica Shale Notable Wells Results Schubert Pad Key Highlights Gulfports Utica wells demonstrate strong performance from north to south and east to west across the play Ward Pad The Schubert pad is Gulfports first producing well in Jefferson County, our furthest northern well drilled to date, and the Jacobs pad in Monroe County is located on the southern tip of the Valerie Pad acreage. The Ward, Charlie and Valerie pads span Belmont County from east to west. Charlie Pad As demonstrated in the data, all of the wells are yielding solid results and speak to the highly derisked nature of the aerial extent of Gulfports dry gas acreage position. Notable Well Results Summary Wells Phase Average Average Prod. Rates (Mmcfepd) County On Pad Window Lateral 30-Day 60-Day 90-Day Charlie Pad SE Belmont 6 Dry Gas East 7,672 16.9 16.9 16.9 LEGEND Jacobs Pad SW Monroe 1 Dry Gas Central 8,414 14.7 16.3 16.7 Gulfport Acreage Schubert Pad S Jefferson 1 Dry Gas Central 8,035 16.3 16.3 16.3 Jacobs Pad GPOR Producing Wells Valerie Pad SE Belmont 3 Dry Gas East 7,072 18.1 18.1 18.1 Ward Pad SW Belmont 2 Dry Gas West 8,174 18.7 18.7 18.7 Normalized Cumulative Well Performance 6,000 Charlie Pad Normalized Cum. Production (Mmcfe - 8000 lateral) Jacobs Pad Schubert Pad 5,000 Valerie Pad Ward Pad Dry Gas West (2.2 Bcfe / 1,000) Dry Gas Central (2.4 Bcfe / 1,000) 4,000 Dry Gas East (2.6 Bcfe / 1,000) 3,000 2,000 1,000 0 0 50 100 150 200 250 300 350 Note: Data provided is three-stream production data. Producing Days WWW.GULFPORTENERGY.COM 10
Gulfport Energy Corp.
August 2017

Upstream WDA Utica: Early Results and Economic Impact 300 Utica Early Test Results: WDA Utica vs Drawdown management is critical 250 Marcellus Restricted drawdown improves well EURs Higher pressure significantly enhances well productivity (Utica 5,000 deeper than Marcellus) Cumulative Gas/1,000 (MMCF) 200 Completion design Completion costs will be on par with the Marcellus 150 Utica Economic Impact: Utica generates lower F&D costs and higher returns than WDA Marcellus 100 60-80% higher EUR for 35% higher capital cost Leverage existing upstream and midstream infrastructure 50 Over 125 well locations with established midstream and upstream infrastructure Enhances IRRs on consolidated upstream / midstream investment 0 0 50 100 150 200 250 300 Days from First Gas 15
National Fuel Gas Co.
August 2017

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