Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 40

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 investing activities:Additions to oil and natural gas properties(108,231)(118,146)Other, net(546)(806)Net cash used in investing activities(108,777)(118,952)Cash flows from financing activities:Principal payments on Credit Facility(128,000)(303,000)Borrowings on Credit Facility125,000 272,000 Debt issuance costs and loan commitment fees— (107)Dividends on preferred stock(862)(1,105)Repurchase of common stock under Repurchase Program(57,809)(14,491)Repurchase of common stock under Repurchase Program - related party— (15,002)Shares exchanged for tax withholdings(2,962)(1,085)Other(1)— Net cash used in financing activities(64,634)(62,790)Net change in cash and cash equivalents3,869 6,280 Cash and cash equivalents at beginning of period1,473 1,929 Cash and cash equivalents at end of period$5,342 $8,209 

 See accompanying notes to consolidated financial statements.

7

GULFPORT ENERGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of CompanyGulfport Energy Corporation (the "Company" or "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. The Company's principal properties are located in eastern Ohio targeting the Utica and Marcellus and in central Oklahoma targeting the SCOOP Woodford and Springer formations.Basis of PresentationThe accompanying unaudited condensed consolidated financial statements of Gulfport were prepared in accordance with GAAP and the rules and regulations of the SEC.This Quarterly Report on Form 10-Q (this “Form 10-Q”) relates to the financial position and periods as of and for the three months ended March 31, 2025, and the three months ended March 31, 2024. The Company's annual report on Form 10-K for the year ended December 31, 2024, should be read in conjunction with this Form 10-Q. The accompanying unaudited consolidated financial statements reflect all normal recurring adjustments which, in the opinion of management, are necessary for a fair