Strategic Initiative for Acreage Acquisitions
Gulfport plans to allocate up to $100 million toward discretionary acreage acquisitions, marking its highest leasehold spend in over 6 years and bringing the 3-year allocation to nearly $200 million.
Increase in Share Repurchase Program
The share repurchase program authorization increased by 50% from $1.0 billion to $1.5 billion, with $125 million returned to shareholders in the first half of 2025.
Solid Second Quarter Performance
Gulfport delivered high single-digit quarterly production growth and strong operating cost performance, resulting in capital spending and cash flow results that beat analyst expectations.
Successful Kage Development
The Kage development, a 4-well Utica condensate pad, performed well with strong oil performance, delivering approximately 65% more cumulative oil than Gulfport's Lake pad.
Adjusted Free Cash Flow Growth
Gulfport generated more than 70% adjusted free cash flow growth quarter-over-quarter, with net cash provided by operating activities totaling approximately $198 million.
Strong Financial Position
The company reported adjusted EBITDA of approximately $212 million and maintained a strong liquidity position with $885 million available.
Preferred Stock Redemption
Gulfport announced the redemption of all outstanding preferred stock, simplifying the capital structure and accelerating share repurchases.