Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 15

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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Liquidity and Capital Resources 

Overview. We strive to maintain sufficient liquidity to ensure financial flexibility, withstand commodity price volatility, fund our development projects, operations and capital expenditures and return capital to shareholders. We utilize derivative contracts to reduce the financial impact of commodity price volatility and provide a level of certainty to the Company's cash flows. We generally fund our operations, planned capital expenditures and any share repurchases or redemptions with cash flow from our operating activities, cash on hand, and borrowings under our Credit Facility. Additionally, we may access debt and equity markets and sell properties to enhance our liquidity. There is no guarantee that the debt or equity capital markets will be available to us on acceptable terms or at all. 

For the three and six months ended June 30, 2025, our primary sources of capital resources and liquidity have consisted of internally generated cash flows from operations and access to debt markets, and our primary uses of cash have been for development of our oil and natural gas properties, share repurchases and dividend payments on our preferred stock.

We believe our annual free cash flow generation, borrowing capacity under the Credit Facility and cash on hand will provide sufficient liquidity to fund our operations, capital expenditures, interest expense and share repurchases or redemptions during the next 12 months and the foreseeable future.

To the extent actual operating results, realized commodity prices or uses of cash differ from our assumptions, our liquidity could be adversely affected. See Note 4 of our consolidated financial statements for further discussion of our debt obligations, including the principal and carrying amounts of our senior notes. 

As of June 30, 2025, we had $3.8 million of cash and cash equivalents, $55.0 million of outstanding borrowings under our Credit Facility, $63.9 million of letters of credit outstanding, and $650.0 million of outstanding 2029 Senior Notes. Our total principal amount of funded debt as of June 30, 2025 was $705.0 million. 

As of July 30, 2025 we had $3.0 million of cash and cash equivalents, $29.0 million in borrowings under our Credit Facility, $63.9 million of letters of credit outstanding, and $650 million of outstanding 2029 Senior Notes. 

Debt. In May 2021, we issued our 2026 Senior Notes. The 2026 Senior Notes were guaranteed on a senior unsecured basis by each of the Company's subsidiaries that guarantee the