Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 100

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 100
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million in 2024. 

All PUD locations included in our 2024 reserve report are scheduled to be drilled within five years of initial booking. 

As of December 31, 2024, 1.20% of our total proved reserves were classified as proved developed non-producing.

PV-10 Sensitivities

As noted above, our proved reserves at December 31, 2024, were calculated using prices based on the 12-month unweighted arithmetic average of the first-day-of-the-month price for 2024 of $76.32 per barrel and $2.13 per MMBtu. Holding production and development costs constant, if SEC pricing were $83.95 per barrel and $2.34 per MMBtu, or a 10% increase, this would have resulted in an increase of 87 Bcfe of our total proved reserves and a $0.54 billion increase in PV-10 value at December 31, 2024. Holding production and development costs constant, if SEC pricing were $68.69 per barrel and $1.92 per MMBtu, or a 10% decrease, this would have resulted in a decrease of 494 Bcfe of our total proved reserves and a $0.51 billion decrease in PV-10 value at December 31, 2024. For the low price scenario 128 PUDs were PV-10 economic.

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Table of ContentsIndex to Financial Statements

Acreage 

The following table presents our total gross and net developed and undeveloped acres as of December 31, 2024: 

DevelopedAcreageUndevelopedAcreageFieldGrossNetGrossNetUtica & Marcellus161,391133,63877,387 74,359 SCOOP49,922 35,896 9,829 7,134 Total211,313 169,534 87,216 81,493 

Of our leases that are not held by production, most have a five-year primary term, many of which include options to extend the primary term. We manage lease expirations to ensure that we do not experience unintended material expirations. Our leasehold management efforts include scheduling our operations to establish production in paying quantities in order to hold leases prior to the expiration dates, paying the prescribed lease extension payments, planning non-core divestitures or strategic acreage trades with other operators to high-grade our lease inventory and letting some leases expire that