Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 92

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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05 Production Costs:Average lease operating expenses ($/Mcfe)$0.22 $0.17 Average taxes other than income ($/Mcfe)$0.08 $0.08 Average transportation, gathering, processing and compression ($/Mcfe)$0.97 $0.90 Total lease operating expenses, taxes other than income and midstream costs ($/Mcfe)$1.26 $1.15 

41

Natural Gas, Oil and Condensate and NGL Sales (in thousands)

Six Months Ended June 30, 2025Six Months Ended June 30, 2024% ChangeNatural gas$522,742 $332,744 57 %Oil and condensate72,802 40,828 78 %NGL59,553 54,253 10 %Natural gas, oil and condensate and NGL sales$655,097 $427,825 53 %

The increase in natural gas sales without the impact of derivatives, when comparing the six months ended June 30, 2025 to the six months ended June 30, 2024, was due to a 78% increase in realized prices, partially offset by a 12% decrease in sales volumes. The realized price change was primarily driven by the increase in the average Henry Hub gas index from $2.07 per Mcf in the six months ended June 30, 2024, to $3.55 per Mcf in the six months ended June 30, 2025. The 12% decrease in natural gas production was primarily due to natural declines partially offset by our 2024 and 2025 development programs and the impact of unplanned, third-party midstream outages and constraints.

The increase in oil and condensate sales without the impact of derivatives, when comparing the six months ended June 30, 2025 to the six months ended June 30, 2024, was due to a 115% increase in sales volumes, partially offset by a 17% decrease in realized prices. The 115% increase in oil and condensate production was primarily due to commencement of sales on new wells targeting the Utica liquids window. The realized price change was driven by the decrease in the average WTI crude index from $78.77 per barrel in the six months ended June 30, 2024, to $67.58 per barrel in the six months ended June 30,