Gulfport Energy(GPOR)

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Gulfport Energy(GPOR) - 2023 Q4 - Annual Results
2024-02-27 21:13
Exhibit 99.2 Year ended December 31, 2023 Supplemental Information of Gulfport Energy | Table of Contents: | Page: | | --- | --- | | Production Volumes by Asset Area | 2 | | Production and Pricing | 4 | | Consolidated Statements of Income | 6 | | Consolidated Balance Sheets | 8 | | Consolidated Statement of Cash Flows | 10 | | 2024E Guidance | 12 | | Derivatives | 13 | | Non-GAAP Reconciliations | 14 | | Definitions | 15 | | Adjusted Net Income | 16 | | Adjusted EBITDA | 18 | | Adjusted Free Cash Flow | 20 ...
Gulfport Energy(GPOR) - 2023 Q3 - Quarterly Report
2023-11-01 19:20
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, 2023 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) (State or Other Jurisdiction of I ...
Gulfport Energy(GPOR) - 2023 Q3 - Earnings Call Transcript
2023-11-01 19:19
Gulfport Energy Corporation (NYSE:GPOR) Q3 2023 Earnings Conference Call November 1, 2023 9:00 AM ET Company Participants Jessica Antle - Director-Investor Relations John Reinhart - President and Chief Executive Officer Michael Hodges - Executive Vice President and Chief Financial Officer Matt Rucker - Senior Vice President of Operations Conference Call Participants Bertrand Donnes - Truist Securities Timothy Rezvan - KeyBanc Capital Douglas Leggate - Bank of America Chris Baker - Evercore ISI Operator Gree ...
Gulfport Energy(GPOR) - 2023 Q3 - Earnings Call Presentation
2023-11-01 18:47
FCF Yield 2024E 2025E 20262 2027 ~$2.1 Billion $3.50 NYMEX & $75 WTI $4.00 NYMEX & $75 WTI 2024E 2025E 20262 2027 2026 – 2028E Cum 5-Year 2026 – 2028E Cum 5-Year ~$2.9 Billion 30% 10% 2024E 2025E • Sustainable free cash generation underpinned by high quality assets GPOR | 7 Normalized Cumulative Production (MMcfe / 1,000' ft of lateral) | --- | --- | --- | |-------|-----------|-----------------| | | | Top 1 | | | | 2 Gulfport | | | | 3 Gulfport | | | | 4 Gulfport | | | | Gulfport 5 | | | | Gulfport 6 | | | ...
Gulfport Energy(GPOR) - 2023 Q2 - Earnings Call Presentation
2023-08-03 05:22
Investor Presentation August 2023 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 Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport's current expectations, management's outlook guidance or forecasts of future events, ...
Gulfport Energy(GPOR) - 2023 Q2 - Earnings Call Transcript
2023-08-02 17:38
Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of approximately $145 million during the second quarter, with net cash provided by operating activities before changes in working capital totaling approximately $134 million, which funded capital expenditures despite a soft gas macro environment [9][24][47] - The average daily production totaled 1.039 billion cubic feet equivalent per day, exceeding analyst expectations, driven by accelerated well completions and strong performance from the development program [41][67] - The company has reduced its operating unit cost guidance for the full year 2023 to $1.16 to $1.24 per million cubic feet equivalent, an improvement of approximately 4% based on the midpoint of previously issued guidance [6][67] Business Line Data and Key Metrics Changes - The company drilled and rig released eight gross wells during the second quarter, with seven in the Utica, and completed 13 gross wells, including 11 in the Utica and two in the SCOOP [41][63] - The company’s three well Barber Ridge pad in Monroe County continues to outperform historic results, producing in excess of 70 million cubic feet equivalent per day [65] - The average EUR for 1000 feet of lateral in the Utica has improved by over 50% since 2020, while the SCOOP area has seen a 75% improvement in program average EUR per 1000 feet of lateral since 2020 [43][32] Market Data and Key Metrics Changes - The company expects its natural gas basis differential before hedges to average $0.20 to $0.35 below NYMEX for the full year, with current forward prices suggesting a wider differential towards the end of the year [10][33] - The all-in realized price during the second quarter was $2.76 per Mcfe, which is $0.66 above the NYMEX Henry Hub Index price, highlighting the benefits of the company’s diverse marketing portfolio [71] Company Strategy and Development Direction - The company remains focused on disciplined growth, lowering costs, improving operational cycle times, and enhancing returns while maintaining a strong balance sheet [27][69] - The company plans to allocate approximately $40 million from its adjusted free cash flow towards discretionary acreage acquisitions to enhance its high-quality resource depth [28] - The company is committed to returning capital to shareholders through common stock repurchases, having reduced outstanding shares by over 13% since initiating the program [8][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the volatility in the natural gas macro environment but expressed confidence in the company’s valuation and operational execution capabilities, viewing the current landscape as a significant investment opportunity [14] - The company anticipates accelerating adjusted free cash flow in the second half of the year, driven by improved commodity prices and operational efficiencies [24][72] - Management emphasized the importance of developing assets efficiently and sustainably, focusing on enhancing margins and optimizing efficiencies [69] Other Important Information - The company incurred capital expenditures of $110.6 million related to drilling and completion activity and $18.7 million related to leasehold and land investment during the second quarter [48] - The company’s liquidity remains strong, totaling $732 million, providing flexibility for future development needs [50][73] Q&A Session Summary Question: What should be expected regarding Marcellus de-risking results? - Management indicated that early results are as expected and they are looking to delineate the liquids content to better understand the economic viability and production profiles [76][77] Question: Is the current hedge position satisfactory for 2024? - Management expressed comfort with the existing hedge position for 2024, indicating flexibility to adjust based on market conditions [83] Question: What is the outlook for capital allocation in the SCOOP area? - Management noted plans to allocate more capital to the Oklahoma SCOOP area in 2024, with expectations of returning to a more historic level of development activity [32][84]
Gulfport Energy(GPOR) - 2023 Q2 - Quarterly Report
2023-08-02 16:30
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, 2023 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) (State or Other Jurisdiction of Incorp ...
Gulfport Energy(GPOR) - 2023 Q1 - Quarterly Report
2023-05-03 17:30
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 March 31, 2023 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) (State or Other Jurisdiction of Incor ...
Gulfport Energy(GPOR) - 2023 Q1 - Earnings Call Presentation
2023-05-03 15:11
Total Capital Expenditures Total Net Production $0 $25 $50 $75 $100 $125 $150 1Q2023 2Q2023 3Q2023 4Q2023 $ Millions Utica / Marcellus SCOOP Land Actual - 250 500 750 1,000 1Q2023 2Q2023 3Q2023 4Q2023 MMcfepd Utica / Marcellus SCOOP Actual Production GPOR | 10 Key Highlights • Plan to turn-to-sales 18 to 20 gross Utica wells and 2 gross Marcellus wells • Potential for 40 – 50 locations across Gulfport's existing acreage Gulfport Utica Well Performance by Vintage Bcfe / 1,000' of Lateral Gulfport's proved re ...
Gulfport Energy(GPOR) - 2023 Q1 - Earnings Call Transcript
2023-05-03 14:28
Gulfport Energy Corporation (NYSE:GPOR) Q1 2023 Earnings Conference Call May 3, 2023 9:00 AM ET Company Participants Jessica Antle - Director, Investor Relations John Reinhart - President & Chief Executive Officer Michael Hodges - Executive Vice President & Chief Financial Officer Matthew Rucker - Senior Vice President, Operations Conference Call Participants Neal Dingmann - Truist Securities Tim Rezvan - KeyBanc Capital Markets Operator Hello, and welcome to the Gulfport Energy Corporation’s First Quarter ...