Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 423

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 423
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 overhead and interest expense attributable to oil and gas production.Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Revenues$928,604 $1,051,383 $2,330,859 Production costs(451,086)(450,996)(482,175)Depletion(324,078)(318,473)(266,449)Impairment(373,214)— — Income tax benefit56,077 525,156 — Results of operations from producing activities$(163,697)$807,070 $1,582,235 Depletion per Mcf of gas equivalent (Mcfe)$0.84 $0.83 $0.74 

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Table of ContentsIndex to Financial Statements

Oil and Natural Gas ReservesThe following table presents estimated volumes of proved developed and undeveloped oil and gas reserves as of December 31, 2024, 2023 and 2022 and changes in proved reserves during the last three years. The reserve reports use an average price equal to the unweighted arithmetic average of hydrocarbon prices received on a field-by-field basis on the first day of each month within the 12-month period ended December 31, 2024, 2023 and 2022, in accordance with guidelines of the SEC applicable to reserves estimates. The prices used for the 2024 reserve report are $76.32 per barrel of oil, $2.13 per MMbtu and $31.30 per barrel for NGL, adjusted by lease for transportation fees and regional price differentials, and for oil and gas reserves, respectively. The prices used at December 31, 2023 and 2022 for reserve report purposes are $78.21 per barrel, $2.64 per MMbtu and $31.42 per barrel for NGL and $94.14 per barrel, $6.36 per MMbtu and $47.86 per barrel for NGL, respectively.Gulfport emphasizes that the volumes of reserves shown below are estimates which, by their nature, are subject to revision. The estimates are made using all available geological and reservoir data, as well as production performance data. These estimates are reviewed annually and revised, either upward or downward, as warranted by additional performance data.Oil (MMBbl)Natural Gas (Bcf)NGL (MMBbl)Natural Gas Equivalent (Bcfe)