Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 456

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 456
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 will have on its financial disclosures.

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Table of ContentsIndex to Financial Statements

2.SEGMENT INFORMATION

The Company's assets and operations consist of one reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.The CODM of the Company is its Chief Executive Officer. The CODM assesses entity-wide operating results and performance and decides how to allocate resources based on net (loss) income, which is reported on the consolidated statement of operations.  The measure of segment assets is reported on the consolidated balance sheets as “total assets”.The following table presents selected financial information with respect to the Company's one operating segment for the years ended December 31, 2024, 2023 and 2022 (in thousands): Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Total revenues$958,131 $1,791,702 $1,331,112 Significant segment expensesLease operating expenses 70,112 68,648 64,790 Taxes other than income29,737 33,717 60,139 Transportation, gathering, processing and compression351,237 348,631 357,246 Depreciation, depletion, and amortization 325,723 319,715 267,761 Impairment of oil and gas properties373,214 — — General and administrative42,558 38,600 35,304 Interest expense59,982 57,069 59,773 Other segment expenses(1)23,031 (20,438)(8,602)Income tax benefit(56,077)(525,156)— Total significant segment expenses1,219,517 320,786 836,411 Net (loss) income$(261,386)$1,470,916 $494,701 Capital expenditures(2)$464,492 $521,187 $470,396 _____________________(1)    Other segment expenses include “Restructuring costs”, “Accretion expense”, “Loss on debt extinguishment”, and “Other, net” from the consolidated statements of operations.(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest