Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 496

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 496
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,776)Standardized measure of discounted future net cash flows$1,747 $2,383 $8,279 Totals may not sum or recalculate due to rounding.

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Table of ContentsIndex to Financial Statements

Future development and abandonment costs include not only development costs but also all future costs to settle asset retirement obligations. The following table summarizes the total of all future costs to settle asset retirement obligations that are included in future development and abandonment costs above (in millions):Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Future asset retirement obligations$240 $229 $222 Changes in Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves The principal source of change in the standardized measure of discounted future net cash flows relating to proved reserves is presented in the table below (in millions):Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Sales and transfers of oil and gas produced, net of production costs$(478)$(600)$(1,849)Net changes in prices, production costs, and development costs(910)(7,181)5,130 Acquisition of oil and gas reserves in place— — — Extensions and discoveries368 581 941 Previously estimated development costs incurred during the period211 263 204 Revisions of previous quantity estimates, less related production costs(21)(278)154 Sales of oil and gas reserves in place— — (1)Accretion of discount238 828 414 Net changes in income taxes16 1,219 (1,067)Change in production rates and other(60)(728)215 Total change in standardized measure of discounted future net cash flows$(636)$(5,896)$4,141 

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ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM 9A.CONTROLS AND PROCEDURES

Evaluation of Disclosure Control and Procedures

Under the direction of our Chief Executive Officer and our Chief Financial Officer, and with participation of management, we have established disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed