Forward Looking Statements & Non-GAAP Financial Measures This presentation includes forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the…
Gulfport Energy Overview Key Highlights Utica NYSE: GPOR 187,000 Net Acres Market Cap(1): 1.4 Billion 2021 Net Production: 772 MMcfe/d YE21 Proved Reserves: 2.7 Net Tcfe Enterprise Value(2): 2.2 Billion Liquidity(3): 600 Million…
Executing on Return Focused Business Model Safety of employees, contractors and communities is our highest priority Focus on ESG Excellence Commitment to clean and efficient operations Task force engaged to measurably reduce GHG and…
Free Cash Flow Priorities Overview Achieved balance sheet objectives during fourth quarter 2021 and Execute Operational Program now focused on implementing 100 million share repurchase program Represents 7% of market…
Focused on Continuous Improvement and ESG Excellence Gulfport is committed to: Safety - Conduct all activities in a manner that ensures the safety of the public, our employees and contractors Environmental Stewardship - Operate to…
Reported Strong Fourth Quarter and Full Year 2021 Results Total Incurred Per Unit Free Current Leverage Net Production Capital Expenditures Operating Cost(2) Cash Flow(1,2) (Net Debt(3) to EBITDA(2)) 4Q 2021 1,069 MMcfepd 71…
2021 Operational Update
Utica 2021 Development Plan Key Highlights Dry Gas East Cumulative Production Utica net production totaled 825 MMcfepd during 4Q2021(1) 2021 TIL (Angelo / Shannon / Hendershot) 2021 TIL Average 2021 turn-in-line program included 17…
Utica Economic Performance Improvement Gulfports current development plan continues to deliver more reserves on less capital when compared to prior years Utica Development Cost Utica Well Performance 500 1.20 4.0 1.13 1.02 3.5 1.00…
SCOOP 2021 Development Plan & Recent Performance Performance Observations Frick Pad (3 Wells) SCOOP net production totaled 245 MMcfepd during 4Q2021(1) Angela Pad 69% natural gas, 22% NGL and 9% oil(1) (3 Wells) 2021 turn-in-line…
2022 Guidance
Full Year 2022 Guidance Total Net Production(1) Incurred Capital Expenditures(1) 1.0 Bcfepd 360 Million Anticipate modest production growth Development program maintains consistent drilling program over the next 5 years in the…
2022 Capital Program and Production Outlook Capital Program Production Investing approximately 360 million(1) Production guidance range of approximately 1.0 Bcfepd(1) Y-o-Y increase driven by incremental activity and 10% inflationary…
Utica 2022 Development Plan Key Highlights Limestone Pad (5 Wells) Continuous 1 rig drilling program Plan to turn-to-sales 17 gross wells Extreme Pad (4 Wells) Program continues our 2021 development plan of wider spaced wells…
SCOOP 2022 Development Plan Key Highlights Nelda Pad (5 Wells) Expect to average 1 rig drilling program Plan to turn-to-sales 13 gross wells Full section development with 25% liquids production delivering ONeal Pad returns inline…
Financial Update
Compelling Value for Shareholders Best-in-Class EBITDA Margins Lowest EV / EBITDA Multiple 2023E Adjusted EBITDA / Mcfe(1,3) EV / 2023 Adjusted EBITDA(1,3,4) 2.04 1.97 1.96 5.5x 1.86 1.78 1.70 4.8x 4.2x 3.9x 3.0x 2.7x GPOR…
Capital Structure and Financial Profile Year End 2021 Overview As of December 31, 2021 3 million of cash equivalents 700 Cash and Liquidity 700 No Significant 420 million of liquidity(1) 600 Maturities Until 2025 550 Year-end…
Appendix
2021 Proved Reserve Summary Net Reserves as of December 31, 2021(1) Well Gas Oil NGL Total PV-10 Count (Bcf ) (MMBbls) (MMBbls) (Bcfe) (MM) Proved Developed Producing 1,303 1,928 8 31 2,164 2,655 Proved Developed Non-Producing 1 1 - -…
2022 Guidance FY 2022E FY 2022E Guidance Guidance Production Incurred Capital Expenditures D&C - millions 320 360 Average Net Daily Gas Equivalent MMcfe/d 975 1,025 Leasehold and Land - millions 20 % Gas 90% Total Incurred…
Development Plan Overview 2021 Operated Activity 2022 Operated Development Plan(1) D&C Capital Expenditures 190 Million D&C Capital Expenditures 220 Million(2) Well Count Lateral Length Well Count Lateral Length Spud 20 Gross (18.9…
Advantaged Firm Portfolio Provides Access to Diverse Markets Right-sized and diversified takeaway capacity 725 MDth/d(1,2) of firm takeaway from the Utica 175 MDth/d(1) of firm takeaway from the SCOOP Upstream connectivity provides…
Hedged Production Hedge Book(1) Natural Gas Oil Propane Swaps Collars Calls Sold Swaps Collars Swaps Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Call Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Price…
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…
Free Cash Flow 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,…
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…
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