Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 4

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 4
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,817 28,106 10 %Natural gas, oil and condensate and NGL sales$343,582 $238,093 44 %

The increase in natural gas sales without the impact of derivatives when comparing the three months ended March 31, 2025, to the three months ended March 31, 2024 was due to a 76% increase in realized natural gas prices, partially offset by a 15% decrease in sales volumes. The realized price change was primarily driven by the increase in the average Henry Hub gas index from $2.24 per Mcf in the three months ended March 31, 2024, to $3.65 per Mcf during the three months ended March 31, 2025. The 15% decrease in natural gas production was primarily due to natural declines partially offset by our 2024 and 2025 development programs.

The increase in oil and condensate sales without the impact of derivatives when comparing the three months ended March 31, 2025, to the three months ended March 31, 2024, was due to a 57% increase in sales volumes, partially offset by an 8% decrease in realized prices. The 57% increase in oil and condensate production was primarily due to commencement of sales on new wells targeting the Utica liquids window. The realized price change was primarily driven by the decrease in the average WTI crude index from $76.96 per barrel in the three months ended March 31, 2024, to $71.42 per barrel during the three months ended March 31, 2025.

The increase in NGL sales without the impact of derivatives when comparing the three months ended March 31, 2025, to the three months ended March 31, 2024, was due to a 12% increase in realized prices, partially offset by a 2% decrease in NGL sales volumes. The realized price change was driven by the increase in the average Mont Belvieu NGL index from $30.46 per barrel in the three months ended March 31, 2024, to $34.42 per barrel during the three months ended March 31, 2025. The 2% decrease in NGL production was primarily due to natural declines partially offset by our 2024 and 2025 development programs.

Natural Gas, Oil and NGL Derivatives (in thousands)

Three Months Ended March 31, 202