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    Peyton Dorne • UBS

    Peyton Dorne's questions to Gulfport Energy Corp (GPOR) leadership

    Peyton Dorne's questions to Gulfport Energy Corp (GPOR) leadership • Q2 2025

    Question

    Peyton Dorne of UBS asked for more color on the production volume trajectory heading into 2026, given the planned activity slowdown in the latter half of 2025. He also questioned if Gulfport might consider instituting a base dividend in the future to preserve its public float and trading liquidity, a theme highlighted in the preferred stock redemption announcement.

    Answer

    CEO John Reinhart projected a production volume increase of approximately 10% in Q3, followed by a relatively flat Q4, establishing a strong and stable production base entering 2026. EVP & CFO Michael Hodges addressed the dividend question, stating that while it's monitored, the management team and board are highly satisfied with the value created by the share repurchase program and believe it remains the most attractive use of capital, so the strategy is unlikely to change for now.

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    Peyton Dorne's questions to Magnolia Oil & Gas Corp (MGY) leadership

    Peyton Dorne's questions to Magnolia Oil & Gas Corp (MGY) leadership • Q2 2025

    Question

    Peyton Dorne of UBS requested clarification on the impact of new legislation on the company's cash tax rate for 2025 and 2026, and inquired about the potential for further reductions in operating costs.

    Answer

    CEO Christopher Stavros confirmed that cash taxes for 2025 are expected to be "negligible" and likely similar in 2026 under current commodity prices, a significant improvement. On operating costs, Stavros noted that while lower workover activity helped in Q2, ongoing field-level efficiency initiatives are also contributing. He guided for LOE to normalize around $5.25 per BOE but expressed hope for continued improvement.

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