Gulfport Energy Corporation (NYSE:GPOR) Q1 2024 Earnings Call Transcript

So, as we look forward, there’s certainly going to be further testing, optimizing spacing, you know, stimulation aggressiveness. So there’s going to be certainly some play within, you know, how we complete and drill and space those wells in development. But by and large, there’s a lot of wells right across the river. So there’s a lot of data that we already kind of know. And the initial development layout will be more tweaking versus what I would consider more delineation. So, feel really good about the data we have. The well results are great, as expected, and we’re certainly going to be keyed in, though, on future development to maximize wherever we can on any of those parameters to value for the company.

Jacob Roberts: Thank you. As a second question on the activity deferrals, is there any impact to what we should be thinking about in terms of liquids percentage mix, whether on a quarterly basis or an annual basis? And maybe you’re reading too much into this, is there any inference that can be drawn in terms of regionally the product mix you’re expecting out of those wells?

Michael Hodges: Yes. Hi, Jake. This is Michael. I think, you know, to John’s comments earlier, the deferral on the completion side was really only about 45 days. So in terms of the impact to the production, as we noted on the script, it was negligible, and any impact to the liquids versus gas mix would be negligible as well. And you know, as we exit this year, we’re going to start to trend a little bit more liquids rich. But again, as we’ve said in the past, we’re still going to be largely a gas company. And as we move into 2025, I think you’ll see more of that liquids component show up in our production mix. So I would guide you all towards a similar liquids mix throughout 2024, maybe some changes late in the year. And in terms of any changes to the kind of the overall NGL barrel or just overall liquids mix, I would tell you again that it’s not going to be meaningful.

Jacob Roberts: Great. Thank you. Appreciate the time.

Operator: Thank you. At this time, we’ve reached the end of our question-and-answer session. I’ll turn the call back to John Reinhart for closing remarks.

John Reinhart: Thank you to everyone for taking the time today to join our call. The team continues to improve business fundamentals which further provides and positions Gulfport Energy as an attractive investment with optionality, tactically and strategically, for continuing value enhancement. Should you have any questions, please do not hesitate to reach out to our Investor Relations team. Have a great day.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.