Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 1

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 1
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 of the Repurchase Program.

Executive Orders

Recently announced changes under the Trump Administration, through executive orders and regulatory rollbacks, signal a shift in United States energy polices, creating a more uncertain regulatory landscape which may impact our business and operations.

Tariffs and Trading Relationships

In April 2025, the U.S. government announced a baseline tariff of 10% on products imported from all countries and an additional individualized reciprocal tariff on the countries with which the United States has the largest trade deficits, including China. Increased tariffs by the United States have led and may continue to lead to the imposition of retaliatory tariffs by foreign jurisdictions. Additionally, the U.S. government has announced and rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of the tariffs on economic conditions. Current uncertainties about tariffs and their effects on trading relationships may affect costs for and availability of raw materials, contribute to inflation in the markets in which we operate, delay access to capital markets and increase the likelihood of an economic downturn. Although we are continuing to monitor the economic effects of such announcements, as well as opportunities to mitigate their related impacts, costs and other effects associated with the tariffs remain uncertain.

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Table of Contents

2025 Operational and Financial Highlights

During the first quarter of 2025, we had the following notable achievements:

•Reported total net production of 929.3 MMcfe per day.

•Turned to sales seven gross (6.99 net) operated wells.

•Generated $177.3 million of operating cash flows.

•Reduced outstanding Credit Facility borrowings by $3.0 million as compared to December 31, 2024.

•Repurchased 340,664 shares for $60.0 million at a weighted average price of $176.13 per share.

•Exited the quarter with total liquidity of $906.5 million.

2025 Production and Drilling Activity

Production Volumes

Three Months Ended March 31, 2025Three Months Ended March 31, 2024Natural gas (Mcf/day)Utica & Marcellus686,964 811,357 SCOOP150,851 162,207 Total837,816 973,564 Oil and condensate (Bbl/day)Utica & Marcellus3,861 1,348 SCOOP1,420 1,980 Total5,282 3,329 NGL (Bbl/day)Utica & Marcellus3