We are currently offering a free two-week trial to Distressed Value Investing . Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Gulfport Energy's (NYSE: GPOR ) total production growth has been relatively flat through 2024 and is expected to be roughly the same in 2025 as well. However, Gulfport is focusing on liquids-rich development, which ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-19514 Gulfport Energy Corporation (Exact name of registrant as specified in its charter) Delaware 86-3684669 (State or oth ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of approximately $178 million for Q3 2024, exceeding analyst expectations, driven by strong liquids production and operating cost performance [30] - Adjusted free cash flow for the same period was approximately $73 million, also better than expected [30] - Net cash provided by operating activities before changes in working capital totaled approximately $160 million, more than sufficient to fund capital expenditures and common share repurchases [29] - The company lowered its full year 2024 capital guidance by approximately 4% at the midpoint, now forecasting D&C capital to be in the range of $325 million to $335 million [12] Business Line Data and Key Metrics Changes - High-margin condensate production increased by 68% quarter-over-quarter [7] - Production for Q3 averaged 1.06 billion cubic feet equivalent per day, consistent with the first half of 2024, but included a significant increase in high-margin oil volumes [31] - The company expects over 60% of total turn-in lines in 2025 to be liquids-rich, up from approximately 37% in 2024 [22] Market Data and Key Metrics Changes - The all-in realized price for Q3 was $3.09 per Mcfe, which is 43% above the NYMEX Henry Hub Index price [32] - The company realized a cash hedging gain of approximately $85 million for the quarter, demonstrating the value of its hedge book [32] - Approximately 15% of natural gas has firm delivery to the Gulf Coast at attractive premiums [35] Company Strategy and Development Direction - The company is focusing on enhancing shareholder value through share repurchases, with a 54% increase in the common stock repurchase authorization to $1 billion [7][40] - There is a strategic shift towards high-margin liquids development, with plans to allocate the majority of capital savings to shareholder returns [11][27] - The company aims to maintain flexibility in its asset base, allowing for shifts between liquids and gas depending on market conditions [50][81] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the gas price outlook for 2025 and 2026, indicating a constructive view on future commodity prices [33] - The company is committed to emission intensity reductions and has achieved an A grade under the MIQ methane emission standard for its natural gas production [9] - Management highlighted the importance of operational efficiencies and cost reductions, attributing two-thirds of capital savings to efficiency gains [46] Other Important Information - The company completed drilling on five gross wells in Ohio during Q3 and concluded its 2024 turn-in-line program in the Utica [13] - The company has extended the maturity of its long-term senior notes by about 3.2 years and lowered the weighted average interest rate on its long-term senior notes by approximately 1.2% [36] Q&A Session Summary Question: Could you walk us through where the savings came from? - Management attributed two-thirds of the capital savings to efficiency gains and one-third to service cost reductions, with no material shifts in planned activity [45][46] Question: How do you think about your inventory ranking? - Management stated that they have several liquids window options and are focusing on high-quality inventory with returns generally within 15% to 20% [47][49] Question: Is the 60% liquids weight on TILs in 2025 the new normal? - Management indicated that the shift towards liquids will be a continuous presence in the company's portfolio, driven by high-quality acreage and commodity price outlook [54][55] Question: Can you characterize the pressure management program? - Management explained that the program is applied across the portfolio and varies with commodity prices, providing benefits such as increased plateau periods and reduced potential damage [57][60] Question: Can you discuss the decision process behind the capital budget adjustments? - Management described a hybrid approach, balancing shareholder returns with some redeployment into drilling activity [63] Question: What is the trajectory of oil production from here? - Management expects a significant increase in liquids production moving into next year, with a shift from a high percentage of gas to a more balanced mix [65] Question: How do you see discretionary acreage opportunities developing in 2025? - Management plans to remain opportunistic in acquiring high-quality acreage, having added significant inventory in recent years [74][76] Question: What is driving the widening of oil differentials? - Management clarified that the widening is a mathematical function due to back-weighted production and not an operational change [78] Question: How flexible is the company regarding the liquids mix? - Management confirmed the ability to pivot between liquids and gas based on commodity price changes, with a focus on maximizing returns [81]

Investor Presentation November 2024 Forward Looking Statements & Non-GAAP Financial Measures This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially differen ...

Gulfport Energy (GPOR) came out with quarterly earnings of $3.37 per share, beating the Zacks Consensus Estimate of $2.96 per share. This compares to loss of $1.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.85%. A quarter ago, it was expected that this natural gas producer would post earnings of $2.88 per share when it actually produced earnings of $2.91, delivering a surprise of 1.04%.Over the last four quarters, the ...

Exhibit 99.2 Three months and nine months ended September 30, 2024 Supplemental Information of Gulfport Energy | --- | --- | |-------------------------------------------------------------------|---------| | Table of Contents: Production Volumes by Asset Area | Page: 2 | | Production and Pricing | 4 | | Consolidated Statements of Income | 6 | | Consolidated Balance Sheets | 8 | | Consolidated Statement of Cash Flows | 10 | | Updated 2024E Guidance | 12 | | Derivatives | 13 | | Non-GAAP Reconciliations | 14 | ...

Gulfport Energy (GPOR) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the s ...

L H mysticenergy Gulfport Energy (NYSE:GPOR) is refinancing its May 2026 notes with new September 2029 notes that carry a 1.25% lower interest rate. This pushes Gulfport's note maturity out by over three years and also end up saving it roughly $6 million per year in interest costs. Near-term natural gas prices are fairly weak, but with the help of hedges, Gulfport is projected to generate $173 million in 2H 2024 free cash flow and $350 million to $400 million in 2025 free cash flow at current strip. Operati ...

Financial Data and Key Metrics Changes - The company generated $164 million of adjusted EBITDA and $20 million of adjusted free cash flow in Q2 2024, with average daily production totaling 1.05 billion cubic feet equivalent per day [5][16] - Net cash provided by operating activities before changes in working capital totaled approximately $149 million during the second quarter, exceeding capital expenditures for the quarter [16] - The all-in realized price during Q2 was $2.93 per Mcfe, which is $1.04 or 55% above the NYMEX Henry Hub Index price [17] Business Line Data and Key Metrics Changes - The company completed drilling on five gross wells, with three in Ohio targeting the Utica formation and two in the SCOOP targeting the Woodford [6] - The company achieved a new record for daily frac pumping hours in the Utica, improving the quarterly average to 21.9 hours per day, a 28% increase over 2023 [6][7] - The company completed frac operations on four gross condensate drills in Harrison County, Ohio, marking a shift towards more liquids-rich activity [9][10] Market Data and Key Metrics Changes - The natural gas price differential before hedges was negative $0.26 per Mcf compared to the average daily NYMEX settled price during the quarter [18] - Approximately 10% to 15% of natural gas has firm delivery to the Gulf Coast, providing direct exposure to the growing LNG corridor [18] Company Strategy and Development Direction - The company is focused on lowering operating and capital costs, maximizing free cash flow generation, and returning capital to shareholders [4] - The strategy includes a shift towards more liquids-rich directed activity, with plans to begin drilling a four-well Marcellus development in early 2025 [12][14] - The company plans to allocate substantially all full-year 2024 adjusted free cash flow towards common stock repurchases, excluding discretionary acreage acquisitions [15][24] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational improvements and ability to generate positive free cash flow despite low commodity prices [16][25] - The company anticipates an improving commodity price environment in the second half of 2024, which should accelerate adjusted free cash flow [16] - Management highlighted the importance of monitoring the macro environment and commodity prices before allocating the $25 million in potential savings [27][28] Other Important Information - The company has invested roughly $34 million on maintenance, leasehold, and land investment through June 30, 2024, reaffirming a budget of $50 million to $60 million for 2024 [13] - The company repurchased nearly 161,000 shares of common stock for approximately $25 million during Q2 2024 [22][23] Q&A Session Summary Question: On the $25 million of potential savings, what needs to be seen in the markets to trigger additional E&P activity? - Management indicated that the allocation would depend on the general macro environment and oil pricing, with a focus on oil and condensate areas [27][28] Question: How do acreage acquisitions compete with buybacks for free cash flow? - Management stated that both opportunities are consistently rated at the top of the portfolio, and they aim to identify high-margin opportunities for capital allocation [29][30] Question: How do you see the liquids SKU evolving through 2025? - Management expects a reduction in the oil percentage in the commodity stream, moving from 92% gas to the high 80s over the next year and a half [34][35] Question: Are you seeing any basis impact from the Mountain Valley pipeline? - Management noted that there has not been a material change in basis markets, as the market had largely anticipated the pipeline's impact [36] Question: Is the $25 million in savings something that has been accruing through the year? - Management clarified that there has been no accrual to date, but potential allocation towards accelerated activity could benefit 2025 [38][39] Question: Does the stock price factor into the decision on how to allocate the $25 million in savings? - Management confirmed that stock price and macro environment are factors in the decision-making process for capital allocation [45][46] Question: How do the discretionary acreage acquisitions compare to current inventory? - Management indicated that the new acquisitions target high-margin areas and are expected to be developed within 12 to 15 months [48][49]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-19514 Gulfport Energy Corporation (Exact name of registrant as specified in its charter) Delaware 86-3684669 (State or other ju ...