Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 7

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 7
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 process. As needed, we provide historical information to NSAI for our properties such as ownership interest, oil and gas production, well test data, commodity prices, operating and development costs and other considerations, including availability and costs of infrastructure and status of permits. Reserve estimates for the years ended 2023 and 2022, were prepared by NSAI for 100% of our operating areas. 

Internal Controls Over Proved Reserve Estimates

Our proved reserve estimates are prepared in accordance with our internal control procedures. These procedures, which are intended to ensure reliability of reserve estimations, include the following: 

•review and verification of historical production, operating, marketing and capital data, which data is based on actual production as reported by us; 

•verification of property ownership by our land department;

•audit of year-end reserve estimates by NSAI; 

•direct reporting responsibilities by our reservoir engineering department to our Chief Executive Officer; 

•review by our reservoir engineering department of all of our reported proved reserves at the close of each quarter, including the review of all significant reserve changes and all new proved undeveloped reserves additions; 

•provision of quarterly updates to our Board of Directors regarding operational data, including production, drilling and completion activity levels and any significant changes in our reserves;

•annual review by our Board of Directors of our year-end reserve report and year-over-year changes in our proved reserves;

•annual review by our senior management of adjustments to our previously adopted development plan and considerations involved in making such adjustments, including the substitution, removal or deferral of PUD locations; and

•annual review and approval by our senior management and our Board of Directors of a multi-year development plan.

6

Table of ContentsIndex to Financial Statements

The tables below set forth information as of December 31, 2024, with respect to our estimated proved developed and undeveloped oil, natural gas and NGL reserves, the associated estimated future net revenue, the PV-10 and the standardized measure. None of the estimated future net revenue, PV-10 nor the standardized measure are intended to represent the current market value of the estimated oil, natural gas and NGL reserves we own. All of our estimated reserves are located within the United States.

December 31, 2024Oil(MMBbl)Natural Gas(Bcf)NGL (MMBbl)Total (Bcfe)Utica & MarcellusProved developed(1)4 1,427 8 1,498 Proved undeveloped(