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1Q 2020 Earnings Results – Gulfport Energy Corp.

Gulfport Energy Corp. · May 7, 2020 · 21 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. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 1
    INVESTOR PRESENTATION MAY 2020
  2. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 2
    COVID-19 RESPONSE PLAN KEY HIGHLIGHTS Top priority is the safety and health of Gulfport employees, contractors, and the communities in which it operates All office personnel are working remotely Employees have remained fully…
  3. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 3
    GULFPORT COMPANY OVERVIEW CORE AREAS OF OPERATION KEY STATISTICS Market Capitalization(1) 316 Million Utica Shale Enterprise Value(2) 2.2 Billion Acreage: 205,000 Net Acres YE 2019 Proved Reserves: 3.2 Net Tcfe Liquidity(3) 269…
  4. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 4
    GULFPORTS STRATEGY IN CURRENT ENVIRONMENT LOWER Decreased drilling days in the Utica and SCOOP by 11% and 32%, respectively, COST OF versus full year 2019 during 1Q2020 PRODUCTION Actively working to further improve efficiencies and…
  5. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 5
    COST REDUCTION EFFORTS KEY HIGHLIGHTS PER UNIT OPERATING EXPENSE Making every effort to reduce per unit LOE and midstream 1.06 0.97 expense during 2020 despite declining production 0.90 0.90 /Mcfe Actively working with vendors…
  6. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 6
    FOCUSED ON FINANCIAL STRENGTH 700 108 600 500 ( Millions) 327 400 MAINTAIN ADEQUATE 300 4 EXERCISE CAPITAL LIQUIDITY POSITION 269 DISCIPLINE 200 100 - (2) (2) Credit (1) Bank Debt L/Cs (2) Cash Liquidity Facilty…
  7. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 7
    GULFPORT 2020 GUIDANCE 2020E BUDGET KEY HIGHLIGHTS Year Ending Potentially optimizing production profile by deferring 12/31/20 near-term production into significantly higher prices Forecasted Incurred Capital Expenditures during…
  8. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 8
    MACRO NATURAL GAS KEY HIGHLIGHTS NATURAL GAS FUTURES STRIP Reduction in capital spending from oil-weighted companies 3.25 has resulted in expectations for material associated gas 3.00 production declines 2.75 (/MMBtu) 2.50…
  9. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 9
    APPENDIX
  10. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 10
    UTICA SHALE OVERVIEW ASSET OVERVIEW Net proved reserves of 3.2 Tcfe(1) 205,000 net acres 65% HBP 77% of Gulfports total net production(2) 2020 PLANNED ACTIVITIES(3) Operated Activity Spud 16 gross (15 net) wells Turn-to-sales…
  11. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 11
    SCOOP OVERVIEW Springer Gas ASSET OVERVIEW Condensate Springer Oil Net proved reserves of 1.3 Tcfe(1) 76,000 net acres(2) 97% HBP 23% of Gulfports total net production(3) 2020 PLANNED ACTIVITIES(4) Operated Activity Spud 10…
  12. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 12
    MARKETING OVERVIEW KEY HIGHLIGHTS Canadian Low cost supply basins serviced by trusted midstream Exports partners In the Utica, partnered with MPLX, Summit, and EQT Power Generation Midstream In the SCOOP, partnered with…
  13. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 13
    STRONG PRICE REALIZATIONS KEY HIGHLIGHTS NATURAL GAS DIFFERENTIAL Reiterated expected 2020 natural gas differential, oil 1Q'20 2020E differential and expected 2020 NGL realized price guidance Mcf below (0.69) Before the impact…
  14. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 14
    NGL MARKETING OVERVIEW KEY HIGHLIGHTS Edmonton Markets Gulfport forecasts realizing 30% to 35% of WTI for NGLs during 2020 Ontario Markets Midwest Northeast SCOOP barrel provides a strong baseload with Markets Markets pipeline…
  15. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 15
    HEDGED PRODUCTION HEDGE BOOK(1) 2Q20 3Q20 4Q20 2020(2) 2021 2022 2023 Natural Gas Contract Summary: Natural Gas Swaps (NYMEX) Volume (BBtupd) 774 345 370 495 - - - Price (/MMBtu) 2.91 2.91 2.80 2.88 - - - Natural Gas Collars…
  16. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 16
    2019 PROVED RESERVE SUMMARY Net Reserves as of December 31, 2019(1) Gas Oil NGL Total SEC PV-10 (Bcf) (MMBbls) (MMBbls) (Bcfe) (MM) Proved Developed Producing 1,739.5 7.4 29.1 1,958.2 1,360 Proved Developed Non-Producing 17.8 0.5 0.8…
  17. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 17
    COMMITTED TO SUSTAINABILITY The key tenants to any successful business is its priority on safety and environmental protection. Publishing our first ever Corporate Sustainability Report allows us to be more transparent about our health,…
  18. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 18
    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 expense, accretion expense, depreciation, depletion…
  19. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 19
    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…
  20. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 20
    NON-GAAP FINANCIAL MEASURES Adjusted net income is a non-GAAP financial measure equal to (loss) income before income taxes less non-cash derivative (gain) loss, impairment of oil and gas properties, rig termination fees, gain on debt…
  21. 1Q 2020 Earnings Results – Gulfport Energy Corp. – slide 21
    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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