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) 1.9 Billion 2Q23 Net Production: 769.2 MMcfe/day YE22 Proved Reserves: 2.9 Net Tcfe Enterprise Value (EV)(2): 2.5 Billion EV / 2023…
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…
Second Quarter 2023 Results Total Incurred Per Unit Return Current Net Capital Operating of Capital Leverage (Common Share (Net Debt(2) to Production Expenditures Cost(1) Repurchases) Adjusted EBITDA(3)) 2Q 2023 1,039…
Delivering Value For Shareholders Common Share Repurchase Program Common Share Repurchases 325 million Common share repurchase program authorizes purchases up to 400 million Repurchased as of of Gulfport outstanding shares July 27,…
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…
Updated Full Year 2023 Guidance Total Net Production Incurred Base Capital Discretionary Acreage Acquisitions Reaffirmed 1,035 1,055 MMcfe/day Updated 425 - 475 Million 40 Million Updated Prudent low single digit…
2023 Capital Program and Production Outlook Capital Program Production Reaffirming base total capital of 425 million 475 million Raising FY2023 production to be in the range of 1,035 1,055 MMcfe/day Planning discretionary acreage…
Operational Cycle Time Improvements Average Cycle Time(1) (Days) Fully integrated operational planning to minimize Utica SCOOP development risk and increase efficiencies Planning Continuously optimized operational planning to 265…
Utica and Marcellus 2023 Development Plan Key Highlights 5 Well Pad Spud: 4Q2022 TIL: 3Q2023 2 Well Pad Continue to optimize well designs yielding consistent EURs per well Spud: 1Q2023 TIL: 2Q2023 Plan to turn-to-sales 20 gross…
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 Drilled and turned to sales 2 gross…
Strong Capital Structure and Financial Profile Second Quarter 2023 Overview As of June 30, 2023 900 900 5.3 million of cash equivalents No Significant Credit Facility Cash and Liquidity 731.9 million of liquidity(1) 800…
Hedge Position Summary Natural Gas Hedge Position(1) Key Highlights 600,000 Collar Volume Hedge position provides certainty to cash flow and reduces 500,000 Swap Volume commodity price risk 400,000 Currently have downside hedge…
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…
Updated 2023 Guidance FY 2023E FY 2023E Guidance Guidance Production PREVIOUS UPDATED Incurred Capital Expenditures Average Net Daily Gas Equivalent MMcfe/day 1,000 1,040 1,035 1,055 D&C - millions 375 400 % Gas 90% 90%…
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 Collars Swaps Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Call Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Price MMBtu/d…
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, net 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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