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 188,000 Net Acres Market Cap(1): 1.5 Billion 1Q23 Net Production: 738 MMcfe/d YE22 Proved Reserves: 2.9 Net Tcfe Enterprise Value (EV)(2): 2.1 Billion EV / 2023 Adjusted…
Focused Strategy and Compelling Valuation Multi basin portfolio provides diversification and capital allocation optionality High Quality Asset Base Capture value enhancement through Marcellus stacked pay opportunity Natural Gas…
Return of Capital Summary Common Share Repurchase Program Key Highlights 288 million Common share repurchase program authorizes purchases up to Repurchased as of 400 million of Gulfport outstanding shares April 26, 2023, retiring…
First Quarter 2023 Results Total Incurred Per Unit Current Adjusted Leverage Net Capital Operating Free Cash Flow(2) (Net Debt(3) to Production Expenditures Cost(1) Adjusted EBITDA(2)) 1Q 2023 1,057 MMcfepd 147 Million 1.24…
Recent Utica Well Performance Gulfport Utica Well Productivity Outperforming Peers(1) Top 15 Performing Utica Wells(1) Normalized Cumulative Production (MMcfe / 1,000 ft of lateral) 12 Month Normalized Production by Well (MMcfe / 1,000…
Recent SCOOP Well Performance Gulfport Oklahoma Well Productivity Outperforming Peers(1) Top 15 Performing SCOOP / STACK Wells(1) Normalized Cumulative Production (MMcfe / 1,000 ft of lateral) 12 Month Normalized Production by Well…
Reaffirm Full Year 2023 Guidance Total Net Production Incurred Capital Expenditures 1,000 1,040 MMcfepd 425 - 475 Million Prudent low single digit production growth Includes 50 to 75 million of leasehold capital, targeting driven by…
2023 Capital Program and Production Outlook Capital Program Production Reaffirm plans to spend 450 million(1) of total capital expenditures Full year 2023 production to be in the range of 1,000 1,040 MMcfepd Expect 60% - 65% of D&C…
Utica and Marcellus 2023 Development Plan Key Highlights 5 Well Pad Spud: 4Q2022 2 Well Pad TIL: 3Q2023 2 Well Pad Continue to optimize well designs yielding consistent EURs per well Spud: 4Q2023 Spud: 1Q2023 TIL: 2Q2023 Plan to…
SCOOP 2023 Development Plan Key Highlights Optimized unit development and well designs yielding increased recoveries SCOOP 2022 turn-in-lines outperforming with an average EUR of 2.5 Bcfe / 1,000 Plan to drill and turn to sales 2…
Revolving Credit Facility Update Key Terms and Conditions Transaction Overview Description Key Terms Increased borrowing base from 1.0 billion to 1.1 billion Increased elected commitments from 700 million to 900 million Facility Size…
Strong Capital Structure and Financial Profile First Quarter 2023 Overview As of March 31, 2023(3) 900 900 3.5 million of cash equivalents No Significant Credit Facility Cash and Liquidity 829.1 million of pro forma liquidity(1)…
Hedge Position Summary Natural Gas Hedge Position(1) Key Highlights 600,000 Hedge position provides certainty to cash flow and reduces 500,000 commodity price risk 400,000 Currently have downside hedge protection of 50%(1) of…
Focused on Continuous Improvement and ESG Excellence Goal in 2023 to certify Utica natural gas production under the MiQ For additional information please refer to Gulfports Decreased standard for methane emissions measurement and…
Appendix
2022 Proved Reserve Summary Net Reserves as of December 31, 2022(1) Gas Oil NGL Total SEC PV-10(2) (Bcf) (MMBbls) (MMBbls) (Bcfe) (MM) Proved Developed Producing 2,017 9 33 2,271 5,747 Proved Developed Non-Producing 17 0 1 24 57…
Reaffirm 2023 Guidance FY 2023E FY 2023E Guidance Guidance Production Incurred Capital Expenditures Average Net Daily Gas Equivalent MMcfe/d 1,000 1,040 D&C - millions 375 400 % Gas 90% Leasehold and Land - millions 50 75 Total…
Development Plan Overview Utica Marcellus 2022 Operated Activity 2023 Operated Activity 2023 Operated Activity Well Count Lateral Length Well Count Lateral Length Well Count Lateral Length Spud 19 gross (17.4 net) 14,200' Spud 15 -…
Hedged Production Hedge Book(1) Natural Gas Oil Propane Swaps Collars Calls Sold Swaps Swaps Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Call Volume Avg. Price Volume Avg. Price MMBtu/d /MMBtu MMBtu/d /MMBtu /MMBtu…
Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, plus interest expense, depreciation, depletion and amortization and accretion, non- cash…
Adjusted Free Cash Flow Adjusted 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…
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…
Present value of estimated future net revenue (PV-10) PV 10 is a non-GAAP measure derived from standardized measure of discounted future new cash flows (GAAP). Management uses PV-10, which is calculated without deducting estimated future…
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