Significant Increase in Share Repurchase Program
The company increased its share repurchase program authorization by 50% from $1.0 billion to $1.5 billion, with $125 million returned to shareholders in the first half of 2025.
Strong Financial Performance
Gulfport reported adjusted EBITDA of approximately $212 million and generated adjusted free cash flow of $64.6 million during the quarter, with cash operating costs and capital expenditures coming in better than analyst expectations.
Production Growth
The company achieved high single-digit quarterly production growth, with average daily production totaling 1.006 billion cubic feet equivalent per day, an 8% increase over the first quarter of 2025.
Successful Well Performance
The Kage development, a 4-well Utica condensate pad, delivered approximately 65% more cumulative oil than the nearby Lake pad, demonstrating strong well performance.
Strong Financial Position
As of June 30, 2025, Gulfport's liquidity totaled $885 million, with trailing 12-month net leverage of approximately 0.85x, down from the prior quarter.
Strategic Acreage Acquisitions
Plans to allocate up to $100 million toward discretionary acreage acquisitions to secure future drilling opportunities, marking the highest leasehold spend in over 6 years.