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): 2.0 Billion 1Q22 Net Production: 779 MMcfe/d YE21 Proved Reserves: 2.7 Net Tcfe Enterprise Value(2): 2.6 Billion Liquidity(3): 568 Million…
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…
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…
Expanding Common Share Repurchase Program Share Repurchase Program Key Highlights 63 million Expanded share repurchase program authorizes purchases up to Repurchased as of 200 million of Gulfport common shares May 2, 2022,…
Free Cash Flow Priorities Overview Execute Operational Program Generated 117 million of free cash flow(1) during 1Q2022 Peer leading 20% full year 2022 free cash flow yield(2) Maintain Low Leverage Maintaining low leverage Current…
Reported Solid First Quarter 2022 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)) 1,008 MMcfepd 100 Million 1.26 per Mcfe…
Updated 2022 Capital Program and Production Outlook Capital Program Production Updated capital program to approximately 400 million(1), primarily Production guidance range of 975 1,025 MMcfepd driven by increasing inflationary effects…
Operational Update
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) Turn-in-line dates shifted for the Charlotte and Clark pads Program…
SCOOP 2022 Development Plan Key Highlights Nelda Pad (5 Wells) Expect to run 2 rig drilling program during first half of 2022 and evaluating continuous rig program for 2023 Plan to turn-to-sales 13 gross wells ONeal Pad Recent…
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) 2.38 2.36 2.33 2.15 2.06 6.2x 2.02 5.2x 4.5x 4.7x 4.3x 2.3x GPOR…
Capital Structure and Financial Profile First Quarter 2022 Overview As of March 31, 2022 700 6 million of cash equivalents 700 No Significant Cash and Liquidity 568 million of liquidity(1) Maturities 600 Until 2025 550 25…
Appendix
Updated 2022 Guidance FY 2022E FY 2022E Guidance Guidance Production PREVIOUS UPDATED Incurred Capital Expenditures PREVIOUS UPDATED D&C - millions 320 360 355 395 Average Net Daily Gas Equivalent MMcfe/d 975 1,025 975 1,025…
Development Plan Overview 2021 Operated Activity 2022 Operated Development Plan(1) D&C Capital Expenditures 190 Million D&C Capital Expenditures 250 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 Avg. Price Avg. Call Avg. Price Volume Bbl/d Volume Bbl/d Avg. Put…
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 - -…
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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