Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 360

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7A
Chunk 360
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 for 2021 to $6.36 per MMBtu for 2022, the 12-month average price for NGL increased from $31.90 per barrel for 2021 to $47.86 per barrel for 2022, and the 12-month average price for crude oil increased from $66.55 per barrel for 2021 to $94.14 per barrel for 2022. Upward revisions of 144.5 Bcfe were a result of an increase in working interest and net revenue interests as a result of our successful leasing efforts through 2022. Downward revisions of 95.6 Bcfe were experienced as a result of the SEC five-year development window, which removed 4 PUD locations in the Utica and 5 PUD locations in the SCOOP. The development plan changes reflect our commitment to optimizing the long-term development schedule to maximize cash flow and overall economic returns. A small downward revision of 26.9 Bcfe was primarily a result of performance changes to several wells and changes in PUD location forecasts. 

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Table of ContentsIndex to Financial Statements

Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas ReservesThe following tables present the estimated future cash flows, and changes therein, from Gulfport’s proven oil and gas reserves as of December 31, 2024, 2023 and 2022 using an unweighted average first-of-the-month price for the year January through December 31, 2024, 2023 and 2022. The average gas prices used were $2.13, $2.64 and $6.36 per MMbtu, for the years ended December 31, 2024, 2023 and 2022, respectively. The average oil prices used were $76.32, $78.21 and $94.14 per Bbl, for the years ended December 31, 2024, 2023 and 2022, respectively. The average NGL prices used were $31.30, $31.42 and $47.86 per Bbl, for the years ended December 31, 2024, 2023 and 2022, respectively.Year ended operating expenses, development costs and appropriate statutory income tax rates, with consideration of future tax rates, were used to compute the future net cash flows. All cash flows were discounted at 10% to reflect the time value of cash flows,