Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 59

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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 expected development schedule. The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):September 30, 2025December 31, 2024Utica & Marcellus$184,303 $197,513 SCOOP23,747 24,137 Total unproved properties$208,050 $221,650 

13

Asset Retirement ObligationThe following table provides a reconciliation of the Company’s asset retirement obligation for the nine months ended September 30, 2025 and 2024 (in thousands):Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024Asset retirement obligation, beginning of period$32,949 $29,941 Liabilities incurred520 681 Liabilities settled(1,673)— Accretion expense1,802 1,705 Total asset retirement obligation, end of period$33,598 $32,327 

4.LONG-TERM DEBT

Long-term debt consisted of the following items as of September 30, 2025 and December 31, 2024 (in thousands):September 30, 2025December 31, 20246.750% senior unsecured notes due 2029$650,000 $650,000 8.0% senior unsecured notes due 2026— 25,702 Credit Facility due 202851,000 38,000 Net unamortized debt issuance costs(9,334)(10,845)Total debt, net691,666 702,857 Less: current maturities of long-term debt— — Total long-term debt, net$691,666 $702,857 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. 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.