Gulfport Energy Corporation (NYSE:GPOR) Q4 2022 Results Conference Call March 1, 2023 9:00 AM ET

Company Participants

Jessica Antle - Director of Investor Relations

John Reinhart - President and Chief Executive Officer

William Buese - Executive Vice President and Chief Financial Officer

Conference Call Participants

Neal Dingmann - Truist Securities

Tim Rezvan - KeyBanc Capital Markets

Operator

Greetings, and welcome to the Gulfport Energy Corporation’s Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Jessica Antle, Director of Investor Relations. Thank you, Jessica. You may begin.

Jessica Antle

Thank you and good morning. Welcome to Gulfport Energy Corporation’s fourth quarter and full-year 2022 earnings conference call. Speakers on today’s call include John Reinhart, President and CEO; And Bill Buese, Executive Vice President and Chief Financial Officer.

I would like to remind everybody that during this conference call, the participants may make certain forward-looking statements relating to the Company’s financial conditions, results of operations, plans, objectives, future performance, and business. We caution you that actual results could differ materially from those that are indicated in these forward-looking statements, due to a variety of factors. Information concerning these factors can be found in the Company’s filings with the SEC.

In addition, we may make reference non-GAAP measures. Reconciliations to the comparable GAAP measures will be posted on our website. An updated Gulfport presentation was posted yesterday evening to our website in conjunction with the earnings announcement. Please review at your leisure.

At this time, I would like to turn the call over to John, President and CEO.

John Reinhart

Thanks, Jessica, and thank you to everyone for listening to our call today. To open, I would like to express my gratitude to the Board of Directors for the opportunity to be a part of the continuing evolution of Gulfport Energy. The company is positioned with high-quality natural gas weighted asset base and a balance sheet to provide optionality to enhance shareholder value.

Working alongside the many talented individuals at Gulfport, we will remain focused on actions that facilitate efficient and sustainable development of the Company’s quality inventory, enhanced margins, and optimize efficiencies within our capital programs, all while maintaining an attractive balance sheet and utilizing our free cash flow to position the company for success.

Further to this point, the board recently authorized the expansion of our common share of purchase program by an incremental $100 million. We believe allocating our free cash flow towards the continued investment in our undervalued stock, as well as utilizing it in acquiring incremental leasehold will add value, optionality and quality resource depth for the company moving forward.