Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 70

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 contribute to inflation in the markets in which we operate, delay access to capital markets and increase the likelihood of an economic downturn. Although we are continuing to monitor the economic effects of such announcements, as well as opportunities to mitigate their related impacts, costs and other effects associated with the tariffs remain uncertain.

27

2025 Operational and Financial Highlights

During the first quarter of 2025, we had the following notable achievements:

•Reported total net production of 929.3 MMcfe per day.

•Turned to sales seven gross (6.99 net) operated wells.

•Generated $177.3 million of operating cash flows.

•Reduced outstanding Credit Facility borrowings by $3.0 million as compared to December 31, 2024.

•Repurchased 340,664 shares for $60.0 million at a weighted average price of $176.13 per share.

•Exited the quarter with total liquidity of $906.5 million.

2025 Production and Drilling Activity

Production Volumes

Three Months Ended March 31, 2025Three Months Ended March 31, 2024Natural gas (Mcf/day)Utica & Marcellus686,964 811,357 SCOOP150,851 162,207 Total837,816 973,564 Oil and condensate (Bbl/day)Utica & Marcellus3,861 1,348 SCOOP1,420 1,980 Total5,282 3,329 NGL (Bbl/day)Utica & Marcellus3,495 1,981 SCOOP6,467 8,050 Total9,962 10,031 Combined (Mcfe/day)Utica & Marcellus731,105 831,333 SCOOP198,175 222,389 Total929,280 1,053,722 Totals may not sum or recalculate due to rounding.

Our total net production averaged approximately 929.3 MMcfe per day during the three months ended March 31, 2025, as compared to 1,053.7 MMcfe per day during the three months ended March 31, 2024. Production per day declined primarily due to natural declines resulting from the timing of our 2024 and 2025 development programs.

Utica/Marcellus. We spud eight gross (7.98 net) wells targeting the Utica formation during the three