Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 72

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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MEX Henry Hub186,739 $5.84 In addition, the Company has entered into natural gas basis swap positions. These instruments are arrangements that guarantee a fixed price differential to NYMEX Henry Hub from a specified delivery point. The Company receives the fixed price differential and pays the floating market price differential to the counterparty for the hedged commodity. As of June 30, 2025, the Company had the following natural gas basis swap positions open:Gulfport PaysGulfport ReceivesDaily VolumeWeighted Average Fixed SpreadNatural Gas(MMBtu/d)($/MMBtu)Remaining 2025Rex Zone 3NYMEX Plus Fixed Spread110,000 $(0.20)Remaining 2025NGPL TXOKNYMEX Plus Fixed Spread40,000 $(0.29)Remaining 2025TETCO M2NYMEX Plus Fixed Spread230,000 $(0.96)Remaining 2025Transco Station 85NYMEX Plus Fixed Spread10,000 $0.45 Remaining 2025TGP 500NYMEX Plus Fixed Spread20,000 $0.41 2026Rex Zone 3NYMEX Plus Fixed Spread80,000 $(0.18)2026NGPL TXOKNYMEX Plus Fixed Spread30,000 $(0.30)2026TETCO M2NYMEX Plus Fixed Spread130,000 $(0.98)2026Transco Station 85NYMEX Plus Fixed Spread10,000 $0.56 2026TGP 500NYMEX Plus Fixed Spread20,000 $0.56 Balance Sheet PresentationThe Company reports the fair value of derivative instruments on the consolidated balance sheets as derivative instruments under current assets, noncurrent assets, current liabilities and noncurrent liabilities on a gross basis. The Company determines the current and noncurrent classification based on the timing of expected future cash flows of individual trades. The following table presents the fair value of the Company’s derivative instruments on a gross basis at June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 2024Short-term derivative asset$44,191 $58,085 Long-term derivative asset20,906 6,003 Short-term derivative liability(53,184)(41,889)Long-term derivative liability(44,793)(35,