Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 392

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 392
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 following table provides a reconciliation of the Company's asset retirement obligation for the years ended December 31, 2024 and 2023 (in thousands):Year Ended December 31, 2024Year Ended December 31, 2023Asset retirement obligation, beginning of period$29,941 $33,171 Liabilities incurred682 588 Liabilities settled— (604)Liabilities removed due to divestitures— (919)Accretion expense2,307 2,782 Revisions in estimated cash flows(1)19 (5,077)Asset retirement obligation, end of period$32,949 $29,941 _____________________(1)    Revisions represent changes in the present value of liabilities resulting from changes in estimated costs.

4.LONG-TERM DEBT

Long-term debt consisted of the following items as of December 31, 2024 and 2023 (in thousands):December 31, 2024December 31, 20236.750% senior unsecured notes due 2029$650,000 $— 8.0% senior unsecured notes due 202625,702 550,000 Credit Facility due 202838,000 — Credit Facility due 2027— 118,000 Net unamortized debt issuance costs(10,845)(618)Total debt, net702,857 667,382 Less: current maturities of long-term debt— — Total long-term debt, net$702,857 $667,382 

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Table of ContentsIndex to Financial Statements

2029 Senior Notes In September 2024, Gulfport Operating completed a private offering of $650.0 million aggregate principal amount of 6.750% senior notes due September 1, 2029. The 2029 Senior Notes are guaranteed on a senior unsecured basis by the Company and each of the Company's subsidiaries that guarantee the Credit Facility. Interest on the 2029 Senior Notes is payable semi-annually, on March 1 and September 1 of each year, beginning on March 1, 2025. The net proceeds from the offering, together with cash on hand were used to purchase $524.3 million of the 2026 Senior Notes in a tender offer and repay a portion of its outstanding borrowings under the Credit Facility. The 2029 Senior Notes were issued under the 2029 Senior Notes