Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 75

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 one of the following categories:Level 1 –  Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access at the measurement date.Level 2 –  Quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose inputs are observable or whose significant value drivers are observable.Level 3 – Significant inputs to the valuation model are unobservable.Valuation techniques that maximize the use of observable inputs are favored. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities within the levels of the fair value hierarchy. Reclassifications of fair value between Level 1, Level 2 and Level 3 of the fair value hierarchy, if applicable, are made at the end of each quarter.

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Financial assets and liabilitiesThe following tables summarize the Company’s financial and non-financial assets and liabilities by valuation level as of June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025Level 1Level 2Level 3Assets:Derivative instruments$— $65,097 $— Contingent consideration arrangement— — 2,100 Total assets$— $65,097 $2,100 Liabilities:Derivative instruments$— $97,977 $— December 31, 2024Level 1Level 2Level 3Assets:Derivative instruments$— $64,088 $— Contingent consideration arrangement— — 2,700 Total assets$— $64,088 $2,700 Liabilities:Derivative instruments$— $76,970 $— The Company estimates the fair value of all derivative instruments using industry-standard models that consider various assumptions, including current market and contractual prices for the underlying instruments, implied volatility, time value, nonperformance risk, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument and can be supported by observable data. The Company's SCOOP water infrastructure sale, which closed in the first quarter of 2020, included a contingent consideration arrangement. As of June 30,