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 ...

Gulfport Energy (GPOR) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.88 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.04%. A quarter ago, it was expected that this natural gas producer would post earnings of $4.32 per share when it actually produced earnings of $3.31, delivering a surprise of -23.38%. Over the last four quarter ...

Exhibit 99.2 Three months and six months ended June 30, 2024 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 | | Updated 2024E Guidance | 12 | | Derivatives | 13 | | Non-GAAP Reconciliations | 14 | | Definitions ...

6381380/iStock Editorial via Getty Images Gulfport Energy (NYSE:GPOR) is a US natural gas producer with production in Oklahoma's Anadarko and Ohio's developing Utica play. It is a comeback company, having gone into bankruptcy in November 2020 and recovered through investment by companies like Silver Point Capital LP (at 29% of equity on March 31, 2024) and a careful gas hedging program. Gulfport does have a share repurchase program. Its stock is up 16% since my last review and has 32% upside to its one-year ...

Gulfport Energy Corporation (NYSE:GPOR) Q1 2024 Earnings Conference Call May 1, 2024 10:00 AM ET Company Participants Jessica Antle - VP of IR John Reinhart - President and CEO Michael Hodges - EVP and CFO Matt Rucker - SVP of Operations Conference Call Participants Bert Donnes - Truist Zach Parham - JPMorgan Tim Rezvan - KeyBanc Capital Markets Jacob Roberts - Tudor, Pickering, Holt Operator Greetings. Welcome to Gulfport Energy Corporation's First Quarter 2024 Earnings Call. [Operator Instructions] Please ...

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, 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) (State or other jurisdiction of incor ...

Gulfport Energy (GPOR) came out with quarterly earnings of $3.31 per share, missing the Zacks Consensus Estimate of $4.32 per share. This compares to earnings of $2.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -23.38%. A quarter ago, it was expected that this natural gas producer would post earnings of $3.56 per share when it actually produced earnings of $3.10, delivering a surprise of -12.92%.Over the last four quarter ...

Exhibit 99.2 Three months ended March 31, 2024 Supplemental Information of Gulfport Energy | Table of Contents: | Page: | | --- | --- | | Production Volumes by Asset Area | 2 | | Production and Pricing | 3 | | Consolidated Statements of Income | 4 | | Consolidated Balance Sheets | 5 | | Consolidated Statement of Cash Flows | 7 | | 2024E Guidance | 8 | | Derivatives | 9 | | Non-GAAP Reconciliations | 10 | | Definitions | 11 | | Adjusted Net Income | 12 | | Adjusted EBITDA | 13 | | Adjusted Free Cash Flow | 1 ...