Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 211

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 211
---
 elected commitment amounts under the Credit Facility to $1.0 billion, (b) reaffirmed the borrowing base under the Credit Facility at $1.1 billion, (c) extended the maturity date under the Credit Facility to September 12, 2028, and (d) reduced the pricing grid 50 bps.

Stock Repurchase Program

On November 4, 2024, the Company's Board of Directors approved an increase to the authorized Repurchase Program from $650.0 million to $1.0 billion and extended the authorization through December 31, 2025. During the year ended December 31, 2024, the Company repurchased 1.2 million shares for $184.5 million at a weighted average price of $153.35 per share. As of December 31, 2024, the Company repurchased 5.6 million shares for $584.1 million at a weighted average price of $104.88 per share since the inception of the Repurchase Program.

41

Table of ContentsIndex to Financial Statements

2024 Operational and Financial Highlights 

During 2024, we had the following notable achievements:

•Reported total net production of 1,054 MMcfe per day.

•Generated $650.0 million of operating cash flows.

•Turned to sales 19 gross operated (17.8 net) wells.

•Expanded common share repurchase program to $1.0 billion and returned $184.5 million to shareholders through the repurchase of 1.2 million shares at a weighted average price of $153.35 per share.

•Extended the maturity of substantially all long-term senior notes from 2026 to 2029.

•Extended the maturity of the Credit Facility to 2028 and increased the available commitments under the Credit Facility by $100 million.

•Exited the year with total liquidity of $899.7 million.

•Achieved MIQ certification for all Appalachian assets for the second consecutive year.

•Reported year-end estimated net proved reserves of 4.0 Tcfe.

Business and Industry Outlook 

The Company's primary focus going into 2025 is its continued attention on reducing cycle times and operating costs to improve margins and ultimately support our expected free cash flow generation. We are committed to an emphasis on sustainability and we will continue to prioritize safety, environmental stewardship, and maintaining strong relationships with the communities in which we operate. Throughout the year, we plan to maintain capital discipline