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3Q 2019 Earnings Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Oct 31, 2019 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 1
    INVESTOR PRESENTATION OCTOBER 2019
  2. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 2
    GULFPORT COMPANY OVERVIEW A natural gas E&P company focused on shareholder returns through the efficient development of its core positions in two leading natural gas basins CORE AREAS OF OPERATION KEY STATISTICS Market…
  3. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 3
    THIRD QUARTER AND YEAR-TO-DATE 2019 HIGHLIGHTS DAILY NET PRODUCTION PRODUCTION MIX FREE CASH FLOW(2) Gas 7% Liquids Generated Forecasting Produced 103.4 million significant 1,527 free cash flow free cash flow MMcfepd during 3Q19…
  4. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 4
    GULFPORT STRATEGIC AND OPERATIONAL PLANS INITIATIVES KEY HIGHLIGHTS Strong realized prices and low operating expenses protecting cash margin PRIORITIZING MARGIN MAXIMIZATION Actively pursuing opportunities to reduce costs…
  5. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 5
    STRONG BALANCE SHEET KEY HIGHLIGHTS CAPITAL STRUCTURE No near-term debt maturities (millions) 3Q19 10 billion(1) in Appalachian maturities ahead of GPOR Cash & Cash Equivalents 10 Manageable leverage profile of 2.38x(2) Building…
  6. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 6
    DISCIPLINED CAPITAL ALLOCATION KEY HIGHLIGHTS Capital allocation decisions will be made with careful consideration of how they impact the balance sheet Focused on maintaining strong current and projected liquidity and reasonable…
  7. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 7
    GULFPORT 2019 CAPITAL EXPENDITURES GUIDANCE KEY HIGHLIGHTS 2019 capex incurred expected to be within guidance of 565 to 600 million(1) Capital expenditures incurred on non-op activity in the Utica Shale have resulted in larger than…
  8. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 8
    GULFPORT 2019 GUIDANCE KEY HIGHLIGHTS 2019E CAPITAL BUDGET 2019 full year net production is estimated to average at the Year Ending 12/31/2019 midpoint of the range Forecasted Production Remain on track to deliver on the 2019…
  9. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 9
    STRONG HEDGE POSITION KEY HIGHLIGHTS Gulfports hedge portfolio underpins the capital program and provides support to cash flows Recently added significant amount of 2020 natural gas swaps at attractive prices Currently have 548…
  10. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 10
    KEY INVESTMENT AND FINANCIAL HIGHLIGHTS Core acreage positions in two high-quality natural gas plays in North America HIGH Basin diversification provides optionality QUALITY ASSETS Significant remaining inventory in both the Utica…
  11. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 11
    APPENDIX
  12. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 12
    UTICA SHALE OVERVIEW ASSET OVERVIEW Net proved reserves of 3.4 Tcfe(1) 210,000 net acres Oil - 1% Condensate - 9% Wet Gas - 13% Dry Gas - 77% 2019 ACTIVITIES UPDATE(2) Average net production of 1,244 MMcfepd 81% of Gulfports…
  13. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 13
    SCOOP OVERVIEW Springer Gas ASSET OVERVIEW Condensate Springer Oil Net proved reserves of 1.4 Tcfe(1) 92,000 net reservoir acres Includes 50,000 net Woodford acres and 42,000 net Springer acres Estimate in excess of 40,000 net…
  14. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 14
    MARKETING OVERVIEW KEY HIGHLIGHTS Canadian Low cost supply basins with diversified takeaway portfolio and Exports serviced by trusted midstream partners In the Utica, partnered with MPLX, Summit, and EQT Power Generation…
  15. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 15
    NGL MARKETING OVERVIEW KEY HIGHLIGHTS Edmonton Markets Gulfport forecasts realizing approximately 35% Ontario of WTI for NGLs during 2019 Markets Midwest Northeast SCOOP barrel provides a strong baseload with Markets Markets…
  16. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 16
    ADJUSTED REVENUE AND PRICE REALIZATIONS YEAR-TO-DATE 2019 OIL AND GAS REVENUES NATURAL GAS DIFFERENTIAL Gas 1Q'19 2Q'19 3Q'19 YTD 2019E Adjusted Oil and NGL Gas Revenues of Mcf below NYMEX Oil 967.3 million(1) 10%…
  17. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 17
    HEDGED PRODUCTION HEDGE BOOK(1) 2019(3) 2020 2021 2022 2023 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 1,260 548 - - - Weighted Average Price (/MMBtu) 2.81 2.88 - - - Natural Gas Fixed Price…
  18. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 18
    FINANCIAL AND OPERATIONAL SUMMARY 2017 2018 2019 3Q2019 1Q2017 2Q2017 3Q2017 4Q2017 FY 2017 1Q2018 2Q2018 3Q2018 4Q2018 FY 2018 1Q2019 2Q2019 3Q2019 YTD 2019 FY 2019E Q-o-Q Y-o-Y Production Gas Bcf 66.3 82.9 97.8 103.0 350.1 102.0…
  19. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 19
    NON-GAAP FINANCIAL MEASURES EBITDA is a non-GAAP financial measure equal to net (loss) income, the most directly comparable GAAP financial measure, plus interest expense, income tax (benefit) expense, accretion expense, depreciation,…
  20. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 20
    NON-GAAP FINANCIAL MEASURES Cash flow from operating activities before changes in operating assets and liabilities is a non-GAAP financial measure equal to cash provided by operating activity before changes in operating assets and…
  21. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 21
    NON-GAAP FINANCIAL MEASURES Adjusted net income is a non-GAAP financial measure equal to pre-tax net (loss) income less non-cash derivative loss (gain), impairment of oil and gas properties, insurance proceeds, litigation settlement,…
  22. 3Q 2019 Earnings Presentation – Gulfport Energy Corp. – slide 22
    GULFPORT ENERGY HEADQUARTERS 3001 Quail Springs Parkway Oklahoma City, OK 73134 www.gulfportenergy.com INVESTOR RELATIONS (405) 252-4550 Investor_relationsgulfportenergy.com

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