Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 108

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 108
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 spend approximately $35.0 million in 2025 for maintenance leasehold and land investment, which is focused on near-term drilling programs and facilitating increases in our working interests and lateral footage in units we plan to drill in 2025, 2026 and 2027. Our capital program is expected to deliver approximately 1,040 MMcfe per day of production in 2025 and was impacted by unplanned, third-party midstream outages and constraints throughout the year.

The Company has also elected to invest an incremental $30.0 million toward discretionary appraisal projects during 2025, which includes capital expenditures allocated toward drilled but uncompleted and recompletion activity and the Company's first U-development in the Utica. The Company also plans to invest an incremental $35.0 million toward discretionary development activity that is anticipated to mitigate upcoming production downtime due to offset operator simultaneous operations and planned midstream maintenance downtime in early 2026.

Additionally, we are pursuing accretive acreage opportunities that expand our resource footprint and provide optionality to our near-term development plans and intend to allocate approximately $75.0 million to $100.0 million in discretionary acreage acquisitions for 2025 and early 2026.

Sources and Uses of Cash

The following table presents the major changes in cash and cash equivalents for the nine months ended September 30, 2025 and 2024 (in thousands):

Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024Net cash provided by operating activities$617,761 $501,185 Additions to oil and natural gas properties(382,899)(376,910)Debt activity, net(12,702)24,761 Debt issuance and loan commitment fees— (14,820)Repurchases of common stock(168,023)(103,885)Redemption of preferred stock(31,374)— Net cash payments on performance vesting restricted stock units(12,297)— Shares exchanged for tax withholdings(5,576)(23,606)Dividends on preferred stock(1,666)(3,293)Other(1,330)(2,141)Net change in cash and cash equivalents$1,894 $1,291 Cash and cash equivalents at end of period$3,367 $3,220 

Net cash provided by operating activities. Net cash flow provided by operating activities was $617.8 million for the nine months