Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 21

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 21
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30, 2025Six Months Ended June 30, 2024Oil and Natural Gas Property Cash Expenditures:Drilling and completion costs$215,498 $178,864 Leasehold acquisitions22,429 53,291 Other15,073 12,696 Total oil and natural gas property expenditures$253,000 $244,851 

Debt activity, net. In the six months ended June 30, 2025, the Company had $431.0 million and $414.0 million in borrowings and repayments, respectively, on its Credit Facility. In May 2025, the Company redeemed the remaining balance of its 2026 Senior Notes at par for $25.7 million. No additional fees or penalties were incurred as a result of the early redemption. The final payment, including accrued interest, totaled $26.6 million. As of July 30, 2025 the Company had $29.0 million in borrowings outstanding on its Credit Facility.

Repurchases of common stock. During the six months ended June 30, 2025, the Company repurchased 679,550 shares for approximately $125.0 million under the Repurchase Program at a weighted average price of $183.95 per share. For the same period in 2024, the Company repurchased 370,697 shares for $54.5 million at a weighted average price of $147.00 per share. As of July 30, 2025, we repurchased 6.3 million shares for approximately $718.7 million under the Repurchase Program at a weighted average price of $114.03 per share.

Net cash payments on performance vesting restricted stock units. During the six months ended June 30, 2025, the Company settled certain performance vesting restricted stock units awards that were granted in 2022 in cash for $12.3 million, as discussed in Note 7 of our consolidated financial statements.

Dividends on preferred stock. During the six months ended June 30, 2025, the Company paid $1.7 million of cash dividends to holders of our preferred stock compared to $2.2 million in the six months ended June 30, 2024.

Shares exchanged for tax withholdings. During the six months ended June 30, 2025, the Company paid $5.2 million of shares exchanged for tax withholdings compared to $21.6 million in the