GPOR · Gulfport Energy Corporation

Gulfport Energy delivered strong Q1 2026 results with net income of $165.8 million, a dramatic turnaround from a loss in Q1 2025, fueled by natural gas sales rising to $399.5 million from $281.5 million on higher realized prices of $4.90/Mcf (excluding derivatives) and 7% production growth to 996.8 MMcfe/day. Utica & Marcellus contributed 83% of volumes at 833.0 MMcfe/day, while SCOOP added 163.8 MMcfe/day. Operating expenses increased modestly to $209.9 million, with transportation costs at $90.6 million reflecting the gas-heavy portfolio. Adjusted EBITDA reached $264.2 million per the press release, underscoring operational leverage. Operating cash flow of $292.9 million supported $121.7 million capex (mostly D&C) and aggressive share repurchases of $172.8 million, reducing shares outstanding and boosting diluted EPS to $8.87. Balance sheet remains solid with liquidity at $872.2 million pro forma, long-term debt at $823.7 million, and reaffirmed borrowing base of $1.1 billion. Management reaffirmed 2026 guidance expecting 1.030-1.055 Bcfe/day (89% gas), $400-430 million capex, and improved cost metrics like LOE at $0.21-0.25/Mcfe. The CEO appointment of Domenic J. Dell’Osso, Jr., formerly of Expand Energy, signals continuity in capital discipline and returns focus amid strong natural gas demand outlook.