Gulfport Energy reports Q1 adjusted EBITDA $235M, expands buyback to $200M, raises FCF guidance

GULFPORT ENERGY CORP

2022-Q1 EPS reported -$23.23 revenue$-307,816,000

Q1 net loss $492M (GAAP) on $481M revenue; adjusted EBITDA $235.3M; free cash flow $116.8M.
Expanded stock repurchase program from $100M to $200M authorization; repurchased 748k shares for $63M YTD.
Raised 2022 capital expenditure forecast to $380-$420M; increased free cash flow guidance to $375-$425M at current strip.
Spring borrowing base redetermined to $1B (from $850M), maintaining $700M lender commitments; eased hedging and restricted payment covenants.
Q1 net production averaged 1,008 MMcfe/day (92% gas); Utica and SCOOP drove volumes; capital investment $100.4M.

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