Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 90

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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2026 Senior Notes$263 $11,000 (98)%Interest on 2029 Senior Notes10,969 — 100 %Interest expense on Credit Facility2,322 3,857 (40)%Amortization of loan costs1,313 949 38 %Capitalized interest(1,447)(1,241)17 %Other311 593 (48)%Total interest expense$13,731 $15,158 (9)%Interest expense per Mcfe$0.15 $0.16 (5)%

Due to the tender offer for the 2026 Senior Notes in the third quarter of 2024 and the redemption of the remaining balance in the second quarter of 2025, interest paid on the 2026 Senior Notes decreased 98% for the three months ended June 30, 2025 compared to the three months ended June 30, 2024. The Company also incurred $11.0 million of interest on the 2029 Senior Notes for the three months ended June 30, 2025. Interest expense on our Credit Facility decreased 40% for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, as a result of a lower average interest rate and balance outstanding. Amortization of loan costs increased 38% for the three months ended June 30, 2025 compared to the three months ended June 30, 2024, as a result of the Fourth Amendment to the Credit Facility and the issuance of the 2029 Senior Notes. See Note 4 of our consolidated financial statements for further details of our Credit Facility and 2029 Senior Notes. The Company also capitalized $1.4 million and $1.2 million in interest expense for the three months ended June 30, 2025 and June 30, 2024, respectively.

39

Income Taxes

We recorded income tax expense of $51.7 million and income tax benefit of $7.6 million for the three months ended June 30, 2025 and June 30, 2024, respectively. See Note 14 of our consolidated financial statements for further discussion of our income tax expense.

40

Comparison of the Six Month Periods Ended June 30, 2025 and 2024

Natural Gas, Oil and Condensate and NGL Production and Pricing (sales totals in thousands)

The following table