Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 44

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 31, 2024Utica & Marcellus$191,063 $197,513 SCOOP24,091 24,137 Total unproved properties$215,154 $221,650 Asset Retirement ObligationThe following table provides a reconciliation of the Company’s asset retirement obligation for the three months ended March 31, 2025 and 2024 (in thousands):Three Months Ended March 31, 2025Three Months Ended March 31, 2024Asset retirement obligation, beginning of period$32,949 $29,941 Liabilities incurred53 214 Liabilities settled(1,266)— Accretion expense618 555 Total asset retirement obligation, end of period$32,354 $30,710 

4.LONG-TERM DEBT

Long-term debt consisted of the following items as of March 31, 2025 and December 31, 2024 (in thousands):March 31, 2025December 31, 20246.750% senior unsecured notes due 2029$650,000 $650,000 8.0% senior unsecured notes due 202625,702 25,702 Credit Facility due 202835,000 38,000 Net unamortized debt issuance costs(10,348)(10,845)Total debt, net700,354 702,857 Less: current maturities of long-term debt— — Total long-term debt, net$700,354 $702,857 2029 Senior Notes In September 2024, Gulfport Operating completed a private offering of $650.0 million aggregate principal amount of 6.750% senior notes due September 1, 2029. The 2029 Senior Notes are guaranteed on a senior unsecured basis by the Company and each of the Company's subsidiaries that guarantee the Credit Facility. Interest on the 2029 Senior Notes is payable semi-annually, on March 1 and September 1 of each year. The net proceeds from the offering, together with cash on hand were used to purchase $524.3 million of the 2026 Senior Notes in a tender offer and repay a portion of its outstanding borrowings under the Credit Facility. The 2029 Senior Notes were issued under the 2029 Senior Notes Indenture, dated as of September 13, 2024, by and among Gulfport Operating, U