Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 6

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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,315 595 Oil derivatives - settlement gains (losses)2,411 (271)Total gains on oil and condensate derivatives4,726 324 NGL derivatives - fair value gains (losses)5,437 (82)NGL derivatives - settlement losses(266)(237)Total gains (losses) on NGL derivatives5,171 (319)Total gains (losses) on natural gas, oil and NGL derivatives$136,101 $(8,615)

We recognize fair value changes on our natural gas, oil and NGL derivative instruments in each reporting period. The changes in fair value resulted from new positions and settlements that occurred during each period, as well as the relationship between contract prices and the associated forward curves. The significant change in the total gain (loss) for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, was primarily the result of changes in futures pricing for oil, natural gas, and NGLs during each period. See Note 10 of our consolidated financial statements for hedged volumes and pricing.

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Lease Operating Expenses (in thousands, except per unit)

Three Months Ended June 30, 2025Three Months Ended June 30, 2024% ChangeLease operating expensesUtica & Marcellus$12,421 $10,717 16 %SCOOP5,207 5,100 2 %Total lease operating expenses$17,628 $15,817 11 %Lease operating expenses per McfeUtica & Marcellus$0.17 $0.14 21 %SCOOP0.28 0.26 8 %Total lease operating expenses per Mcfe$0.19 $0.17 16 %

The increase in our total LOE for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, was primarily the result of an increase in water hauling and labor expenses throughout our operations.

Taxes Other Than Income (in thousands, except per unit)

Three Months Ended June 30, 2025Three Months Ended June 30, 2024% ChangeProduction taxes$5,316 $4,661 14 %Property taxes1,554 1,919 (19)%Other686 438 57 %Total taxes other than income$7,556