Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 91

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 91
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 the caption In re Gulfport Energy Corporation, et al., Case No. 20-35562 (DRJ). The Bankruptcy Court confirmed the Plan and entered the confirmation order on April 28, 2021, and the Debtors emerged from the Chapter 11 Cases on the Emergence Date. On May 18, 2021, we began trading on the NYSE under the symbol “GPOR”.

Business Strategy

Gulfport aims to create sustainable value through the economic development of our significant resource plays in the Utica/Marcellus and SCOOP operating areas. Our strategy is to develop our assets in a safe, environmentally responsible manner, while generating sustainable cash flow, improving margins and operating efficiencies and returning capital to shareholders. To accomplish these goals, we generally allocate capital to projects we believe offer the highest rate of return and we deploy leading drilling and completion techniques and technologies in our development efforts. We believe our plan to generate free cash flow on an annual basis will allow us to further strengthen our balance sheet, return capital to shareholders and increase our resource depth through incremental leasehold opportunities that provide optionality to our future development plans.

2025 Outlook

Our 2025 capital expenditure program is expected to be in a range of $370 million to $395 million. In the Utica, we intend to complete drilling on approximately 17 gross (17.0 net) operated horizontal wells and commence sales on approximately 22 gross (21.9 net) operated horizontal wells. In the Marcellus, we intend to complete drilling on approximately 8 gross (8.0 net) operated horizontal wells and commence sales on approximately 4 gross (4.0 net) operated horizontal wells. In the SCOOP, we intend to complete drilling on approximately two gross (1.8 net) operated horizontal wells and commence sales on two gross (1.8 net) operated horizontal wells. We expect to fund these expenditures with our operating cash flow and borrowings under our Credit Facility. 

We expect this drilling program to result in approximately 1,040 to 1,065 MMcfe per day of production in 2025.

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Table of ContentsIndex to Financial Statements

Additionally, in 2025, we expect a continuation of shareholder return actions through our Repurchase Program. During 2024, we repurchased 1.2 million shares for $184.5 million at a weighted average price of $153.35 per share, leaving $415.9 million remaining on our Repurchase Program, which expires