Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 83

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 83
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 and remain outstanding at that date. Shares of preferred stock may be converted to common stock pursuant to their terms up to, but not including, the Redemption Date. The total cash amount payable by Gulfport in connection with the redemption will vary depending on the number of shares of preferred stock converted prior to the Redemption Date and the price of Gulfport's common stock.

33

Tariffs and Trading Relationships

Since the initial U.S. government announcement regarding tariffs in April 2025, the U.S. government has subsequently announced and modified, delayed or rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of the tariffs on economic conditions. For example, the U.S. government has recently threatened 30% tariffs on imports from certain countries (including Mexico and the European Union), and certain other countries have likewise threatened, and in some cases implemented, tariffs on U.S. goods. Current uncertainties about tariffs and their effects on trading relationships may affect costs for and availability of raw materials, contribute to inflation in the markets in which we operate, delay access to capital markets and increase the likelihood of an economic downturn. Although we are continuing to monitor the economic effects of such announcements, as well as opportunities to mitigate their related impacts, costs and other effects associated with the tariffs and retaliatory tariffs remain uncertain pending their implementation.

2025 Operational and Financial Highlights

During the second quarter of 2025, we had the following notable achievements:

•Reported total net production of 1,006.3 MMcfe per day.

•Turned to sales 14 gross (13.8 net) operated wells.

•Generated $231.4 million of operating cash flows.

•Repurchased 338,886 shares for $65.0 million at a weighted average price of $191.80 per share.

•Exited the quarter with total liquidity of $884.9 million.

2025 Production and Drilling Activity

Production Volumes

Three Months Ended June 30, 2025Three Months Ended June 30, 2024Natural gas (Mcf/day)Utica & Marcellus736,420 816,935 SCOOP154,939 155,552 Total891,359 972,487 Oil and condensate (Bbl/day)Utica & Marcellus6,135 977 SCOOP1,708 1,770 Total7,843 2,747 NGL (Bbl/day)Utica & Marcellus4,555