Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 6

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 - settlement gains31,150 84,943 Total gains on natural gas derivatives65,018 27,775 Oil derivatives - fair value (losses) gains(2,674)6,698 Oil derivatives - settlement gains2,302 93 Total (losses) gains on oil and condensate derivatives(372)6,791 NGL derivatives - fair value gains1,858 3,559 NGL derivatives - settlement gains (losses)300 (159)Total gains on NGL derivatives2,158 3,400 Total gains on natural gas, oil and NGL derivatives$66,804 $37,966 

We recognize fair value changes on our natural gas, oil and NGL derivative instruments in each reporting period. The changes in fair value resulted from new positions and settlements that occurred during each period, as well as the relationship between contract prices and the associated forward curves. The significant change in the total gain for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, was primarily the result of changes in futures pricing for oil, natural gas, and NGLs during each period. See Note 10 of our consolidated financial statements for hedged volumes and pricing.

39

Lease Operating Expenses (in thousands, except per unit)

Three Months Ended September 30, 2025Three Months Ended September 30, 2024% ChangeLease operating expensesUtica & Marcellus$15,558 $13,080 19 %SCOOP5,235 5,138 2 %Total lease operating expenses$20,793 $18,218 14 %Lease operating expenses per McfeUtica & Marcellus$0.18 $0.17 6 %SCOOP0.28 0.29 (3)%Total lease operating expenses per Mcfe$0.20 $0.19 8 %

The increase in our total and per unit LOE for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, was primarily the result of an increase in workover, compression and labor expenses in our Utica  operations.

Taxes Other Than Income (in thousands, except per unit)

Three Months Ended September 30, 2025Three Months Ended September 30, 2024% ChangeProduction taxes$5,300