Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 77

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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 Company receives an amount from the counterparty based on the price difference multiplied by the hedged contract volume. Similarly, when the referenced settlement price exceeds the ceiling price specified in the contract, the Company pays the counterparty an amount based on the price difference multiplied by the hedged contract volume. No payment is due from either party if the referenced settlement price is within the range set by the floor and ceiling prices.  The Company has entered into natural gas costless collars based off the NYMEX Henry Hub index. Below is a summary of the Company's costless collar positions as of September 30, 2025.IndexDaily VolumeWeighted Average Floor PriceWeighted Average Ceiling PriceNatural Gas(MMBtu/d)($/MMBtu)($/MMBtu)Remaining 2025NYMEX Henry Hub240,000 $3.42 $4.27 2026NYMEX Henry Hub150,000 $3.61 $4.35 2027NYMEX Henry Hub110,000 $3.75 $4.27 From time to time, the Company has sold natural gas call options in exchange for a premium, and used the associated premiums received to enhance the fixed price for a portion of the fixed price natural gas swaps. Each sold call option has an established ceiling price. If at the time of settlement the referenced settlement price exceeds the ceiling price, the Company pays its counterparty an amount equal to the difference between the referenced settlement price and the price ceiling multiplied by the hedged contract volumes. No payment is due from either party if the referenced settlement price is below the price ceiling. Below is a summary of the Company's open sold call option positions as of September 30, 2025.IndexDaily VolumeWeighted Average PriceNatural Gas(MMBtu/d)($/MMBtu)Remaining 2025NYMEX Henry Hub173,478 $5.93 

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In addition, the Company has entered into natural gas basis swap positions. These instruments are arrangements that guarantee a fixed price differential to NYMEX Henry Hub from a specified delivery point. The Company receives the fixed price differential and pays the floating market price differential to the counterparty for the hedged commodity. As of September 30, 2025, the Company had the following natural gas basis swap positions open:Gulfport PaysGulfport ReceivesDaily VolumeWeighted Average Fixed SpreadNatural Gas(MMBtu/d)($/MMBtu)Remaining 202