Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 479

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 479
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 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 December 31, 2024 and December 31, 2023 (in thousands):December 31, 2024December 31, 2023Short-term derivative asset$58,085 $233,226 Long-term derivative asset6,003 47,566 Short-term derivative liability(41,889)(21,963)Long-term derivative liability(35,081)(18,602)Total commodity derivative position$(12,882)$240,227 

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Table of ContentsIndex to Financial Statements

Gains and LossesThe following table presents the gain and loss recognized in net gain (loss) on natural gas, oil and NGL derivatives in the accompanying consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 (in thousands):Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Natural gas derivatives - fair value (losses) gains$(251,019)$584,563 $32,797 Natural gas derivatives - settlement gains (losses)284,626 146,381 (1,002,098)Total gains (losses) on natural gas derivatives33,607 730,944 (969,301)Oil and condensate derivatives - fair value gains2,351 5,971 6,618 Oil and condensate derivatives - settlement gains (losses)166 (3,272)(39,163)Total gains (losses) on oil and condensate derivatives2,517 2,699 (32,545)NGL derivatives - fair value (losses) gains(4,442)(2,414)14,648 NGL derivatives - settlement (losses) gains(2,155)9,090 (12,549)Total (losses) gains on NGL derivatives(6,597)6,676 2,099 Total gains (losses) on natural gas, oil and NGL derivatives$29,527 $740,319 $(999,747)