Gulfport Energy Publishes 2023 – 2024 Corporate Sustainability Report

Rhea-AI Summary

Gulfport Energy (NYSE: GPOR) has released its 2023-2024 Corporate Sustainability Report, highlighting significant environmental, social, and governance achievements. The company achieved an 'A' rating for Appalachia assets from MiQ and reduced Scope 1 methane intensity by 36% in 2023 compared to 2021.

Key environmental initiatives include reusing 75% of water from operations and implementing emission reduction programs. Social achievements include increasing workplace diversity to 43% and reducing incident rates by 53%. The company paid over $360 million in royalties and $34 million in production taxes.

Governance improvements include a seven-member Board with five independent directors, 60% diversity among independent directors, and increased ESG metrics in compensation structure.

OKLAHOMA CITY--(BUSINESS WIRE)-- Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today published its 2023 – 2024 Corporate Sustainability Report, emphasizing the Company’s environmental, social and governance performance and providing an update on its commitment to emission intensity reductions throughout the Company’s operations.

John Reinhart, President and CEO, commented, “As a leading natural gas producer, Gulfport remains committed to emissions reductions and delivering clean, safe, affordable and reliable energy. While we are proud of our progress, we recognize the responsibility we have to our stakeholders, our employees, and the local communities where we operate. I am confident that our approach to developing our assets in a safe and environmentally responsible manner, combined with our disciplined execution and charitable partnerships, will enable us to deliver long-term value to our stakeholders while playing a key role in providing the energy our nation and the world requires.”

Corporate Sustainability Report Highlights

Environmental Stewardship

• Achieved overall “A” rating for Appalachia assets from MiQ for second consecutive year
• Lowered Scope 1 methane intensity⁽¹⁾ by approximately 36% in 2023 compared to 2021
• Conducted Company’s first climate risk assessment and integrated climate-related risk into Enterprise Risk Management program
• Reused or recycled approximately 75% of water generated from production and flowback operations
• Progressed in multi-year program to convert natural gas process controllers with compressed air or other non-gas venting devices across our operations to reduce methane emissions

Social

• Increased diversity in the workplace with approximately 43% of employees identifying as gender or ethnically diverse
• Reduced combined total recordable incident rate by approximately 53% in 2023 compared to 2021
• Partnered with organizations that support Gulfport’s key focus areas: education, health and human services, environmental stewardship and military and veterans
• Paid over $360 million in royalties to local landowners and working interest owners
• Paid over $34 million in production and other taxes across our asset base, helping to fund local economies

Corporate Governance

• Governed by a seven-member Board, which includes five independent directors
• Active Audit, Compensation and NESG Committees ensure full and proper governance
• Appointed two gender diverse directors, resulting in 60% diversity of independent directors
• Separated Chief Executive Officer and Chair roles while retaining Lead Independent Director
• Increased short-term compensation incentive ESG metrics to a 30% weighting

The full Corporate Sustainability Report can be accessed by clicking here or visiting www.gulfportenergy.com/sustainability.

1. Based on EPA required Subpart W reporting.

About Gulfport

Gulfport is an independent natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. Our principal properties are located in eastern Ohio targeting the Utica and Marcellus formations and in central Oklahoma targeting the SCOOP Woodford and SCOOP Springer formations.

Forward-Looking Statements

This press release includes “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport’s current expectations, management's outlook guidance or forecasts of future events, projected cash flow and liquidity, inflation, share repurchases and other return of capital plans, its ability to enhance cash flow and financial flexibility, future production and commodity mix, plans and objectives for future operations, the ability of our employees, portfolio strength and operational leadership to create long-term value and the assumptions on which such statements are based. Gulfport believes the expectations and forecasts reflected in the forward-looking statements are reasonable, Gulfport can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are described under "Risk Factors" in Item 1A of Gulfport’s annual report on Form 10-K for the year ended December 31, 2023 and any updates to those factors set forth in Gulfport's subsequent quarterly reports on Form 10-Q or current reports on Form 8-K (available at https://www.gulfportenergy.com/investors/sec-filings). Gulfport undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

Investors should note that Gulfport announces financial information in SEC filings, press releases and public conference calls. Gulfport may use the Investors section of its website (www.gulfportenergy.com) to communicate with investors. It is possible that the financial and other information posted there could be deemed to be material information. The information on Gulfport’s website is not part of this filing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241105662198/en/

Investor Contact:

Jessica Antle – Vice President, Investor Relations

jantle@gulfportenergy.com

405-252-4550

Source: Gulfport Energy Corporation

FAQ

What are Gulfport Energy's (GPOR) key environmental achievements in 2023?

Gulfport Energy achieved an 'A' rating for Appalachia assets from MiQ, reduced Scope 1 methane intensity by 36% compared to 2021, and reused approximately 75% of water from production operations.

How much did Gulfport Energy (GPOR) pay in royalties and taxes in 2023?

Gulfport Energy paid over $360 million in royalties to local landowners and working interest owners, plus over $34 million in production and other taxes across their asset base.

What diversity improvements has Gulfport Energy (GPOR) made in 2023?

Gulfport Energy increased workplace diversity to approximately 43% of employees identifying as gender or ethnically diverse, and achieved 60% diversity among independent directors.

How much did Gulfport Energy (GPOR) reduce its incident rate in 2023?

Gulfport Energy reduced its combined total recordable incident rate by approximately 53% in 2023 compared to 2021.