Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 96

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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 to the tender offer for the 2026 Senior Notes in the third quarter of 2024 and the redemption of the remaining balance in the second quarter of 2025, interest paid on the 2026 Senior Notes decreased 96% for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. The Company also incurred $21.9 million of interest on the 2029 Senior Notes for the six months ended June 30, 2025. Interest expense on our Credit Facility decreased 47% for the six months ended June 30, 2025 compared to the six months ended June 30, 2024, as a result of a lower average interest rate and balance outstanding. Amortization of loan costs increased 38% for the six months ended June 30, 2025 compared to the six months ended June 30, 2024, as a result of the Fourth Amendment to the Credit Facility and the issuance of the 2029 Senior Notes. See Note 4 of our consolidated financial statements for further details of our Credit Facility and 2029 Senior Notes. The Company also capitalized $2.9 million and $2.4 million in interest expense for the six months ended June 30, 2025 and June 30, 2024, respectively.

Income Taxes

We recorded income tax expense of $51.5 million and $7.3 million for the six months ended June 30, 2025 and June 30, 2024, respectively. See Note 14 of our consolidated financial statements for further discussion of our income tax expense.

44

Liquidity and Capital Resources 

Overview. We strive to maintain sufficient liquidity to ensure financial flexibility, withstand commodity price volatility, fund our development projects, operations and capital expenditures and return capital to shareholders. We utilize derivative contracts to reduce the financial impact of commodity price volatility and provide a level of certainty to the Company's cash flows. We generally fund our operations, planned capital expenditures and any share repurchases or redemptions with cash flow from our operating activities, cash on hand, and borrowings under our Credit Facility. Additionally, we may access debt and equity markets and sell properties to enhance our liquidity. There is no guarantee that the debt or equity capital markets will be available to us on acceptable terms or at all. 

For the three and six months ended June 30, 2025, our primary sources of capital resources and liquidity have consisted