Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 112

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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in thousands):June 30, 2025December 31, 2024Utica & Marcellus$188,190 $197,513 SCOOP23,436 24,137 Total unproved properties$211,626 $221,650 Asset Retirement ObligationThe following table provides a reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2025 and 2024 (in thousands):Six Months Ended June 30, 2025Six Months Ended June 30, 2024Asset retirement obligation, beginning of period$32,949 $29,941 Liabilities incurred222 375 Liabilities settled(1,673)— Accretion expense1,205 1,122 Total asset retirement obligation, end of period$32,703 $31,438 

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4.LONG-TERM DEBT

Long-term debt consisted of the following items as of June 30, 2025 and December 31, 2024 (in thousands):June 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 202855,000 38,000 Net unamortized debt issuance costs(9,846)(10,845)Total debt, net695,154 702,857 Less: current maturities of long-term debt— — Total long-term debt, net$695,154 $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. The 2029 Senior Notes were issued under the 2029 Senior Notes Indenture, dated as of