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Gulfport Energy Corporation (GPOR · NYSE)

Name: Gulfport Energy Corporation (GPOR) oil & gas valuation & reserves screen
Creator: Enerquill Advisory

Gas-weighted — HQ United States. Oil & gas valuation, proved reserves, production, break-even, net-asset-value and jurisdiction-risk screen.

Category Gas-weightedRegion N. AmericaCEO John Reinhart (2023)Jurisdiction risk Low (23)

Overview

Pure-play Appalachian/SCOOP gas producer that emerged from a 2021 Chapter 11 restructuring with a clean balance sheet; FY2025 delivered $427.8M net income, $878.5M adjusted EBITDA and $324.7M adjusted free cash flow on ~1.04 Bcfe/d production.

Capital-return-focused model: repurchased $336.3M of stock in 2025, maintains leverage below 1.0x, and grew proved reserves 7% to 4.3 Tcfe; no dividend, buyback-led returns.

Valuation snapshot (FY2025)

Market cap

$2.8bn

Enterprise value

$3.6bn

EV / EBITDA

4.1x

P / E

6.6x

FCF yield

11.5%

Dividend yield

0.0%

ROACE

17%

Debt / equity

44%

Net debt / EBITDA

0.9x

EV / reserves

$5.11/boe

EV / flowing

$21k/boe/d

Free cash flow

$0.3bn

Its EV/EBITDA of 4.1x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 11.5% is higher than the 6.5% median, and at $5.11/boe of proved reserves it is cheaper than the $13.51/boe median.

On a balanced screen across the universe, Gulfport Energy Corporation scores 60/100, strongest on valuation (68/100). Sub-scores: value 68, quality 58, growth 66, risk 50 (higher = riskier).

Reserves & production

Gulfport Energy Corporation holds approximately 0.71 billion boe of proved (1P) reserves with FY2025 production of about 173 thousand boe/d (11% liquids), a reserve life of roughly 11.2 years. Break-even: ~$2.50/MMBtu (Henry Hub gas breakeven) — Low-cost Utica dry-gas core keeps maintenance breakeven around $2.25-2.75/MMBtu; ~89% gas mix.

Net asset value (public-source floor)

Using Gulfport Energy Corporation's SEC-disclosed after-tax standardized measure of proved reserves ($3.4bn) less net debt ($0.8bn) gives an equity-NAV floor of about $2.6bn — the current market capitalisation sits +7% versus that floor. Disclosed pre-tax PV-10: $3.6bn. This is a floor: proved reserves only, excluding undeveloped inventory, downstream and other business lines.

Jurisdiction risk · production-weighted country risk

23 /100

Low jurisdiction risk

Production-weighted average of the country scores below (0 = safest, 100 = riskiest).

Country / region	Prod. share	Country risk	Key jurisdiction risk
United States	100%	23	Stable, deep; federal-lands leasing and permitting policy swings.

How this is scored. Each country's risk (0–100) is anchored to two named public indices — the OECD Country Risk Classification (0–7 official export-credit country risk) and the World Bank Worldwide Governance Indicators (Political Stability & Absence of Violence percentile) — blended 55/45 and rescaled to 0–100. A company's jurisdiction risk is the production-weighted average across the countries where it operates. This is a pure country measure, kept separate from company & financial risk (leverage, governance). Source: OECD Country Risk Classification (CRC) as of 24 July 2025, sourced via the German Federal Export Credit Guarantees (exportkreditgarantien.de) which applies the OECD consensus country risk category directly (values 0-7; 0 = lowest risk). High-income OECD members are not individually rated by the OECD and are set to crc=0 per the model spec (US, UK, Norway, Canada, Australia, Japan, NZ, and most of Europe incl. OECD members Israel, Poland, Hungary, Czechia, Lithuania, Ireland). 'ps' = World Bank Worldwide Governance Indicators (WGI) 'Political Stability and Absence of Violence/Terrorism' percentile rank, latest available (2023 vintage), 0-100 with higher = more stable; ps values are best sourced estimates rounded to the WGI percentile scale. Yemen not on OECD list ('./.') so crc estimated at 7. Iraq-Kurdistan and Falklands are non-standard model rows using judgment, not official OECD entries..

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Key assets & projects

Asset	Location	Type	Notes
Utica Dry Gas	United States	Gas	Core eastern Ohio dry-gas play
Marcellus	United States	Gas	Stacked-pay dry gas
Utica Liquids-Rich/Condensate	United States	Gas-condensate	Emerging liquids-rich Utica
SCOOP Woodford	United States	Gas-condensate	Oklahoma liquids-rich gas
SCOOP Springer	United States	Oil	Oil-window inventory
SCOOP Sycamore	United States	Gas-condensate	Secondary Oklahoma target
Appalachia Acreage Consolidation	United States	Gas	~$100M bolt-on program
Marketing/Firm Transport	United States	Gas	Diversified takeaway

Five-year trend (FY2021–FY2025)

Metric	2021	2022	2023	2024	2025
Production (mboe/d)	165	175	176	176	173
Proved reserves (bnboe)	0.67	0.67	0.68	0.67	0.71
Revenue ($bn)	0.5	1.3	1.8	1.0	1.4
EBITDA ($bn)	0.1	0.8	1.3	0.1	0.9
Net income ($bn)	-0.1	0.5	1.5	-0.3	0.4
Free cash flow ($bn)	0.1	0.3	0.2	0.2	0.3

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Peer companies — Gas-weighted

NVTK · Novatek EQT · EQT Corporation EXE · Expand Energy TOU · Tourmaline Oil ARX · ARC Resources AR · Antero Resources RRC · Range Resources ENEV3 · Eneva S.A.NWMD · NewMed Energy CNX · CNX Resources Corporation CRK · Comstock Resources, Inc.PEY · Peyto Exploration & Development Corp.BKV · BKV Corporation ENOG · Energean

Sources

✓ FY2025 figures verified against primary sources:

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