Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 54

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 its oil and natural gas properties for the three or six months ended June 30, 2025 or 2024.General and administrative costs capitalized to the full cost pool represent management’s estimate of costs incurred directly related to exploration and development activities such as geological and other administrative costs associated with overseeing the exploration and development activities. All general and administrative costs not directly associated with exploration and development activities are charged to expense as they are incurred. Capitalized general and administrative costs were approximately $6.4 million and $12.7 million, for the three and six months ended June 30, 2025, respectively, and $6.3 million and $12.0 million for the three and six months ended June 30, 2024, respectively.The Company evaluates the costs excluded from its amortization calculation at least annually. Individually insignificant unevaluated properties are grouped for evaluation and periodically transferred to evaluated properties over a timeframe consistent with their expected development schedule. The following table summarizes the Company’s non-producing properties excluded from amortization by area (in thousands):June 30, 2025December 31, 2024Utica & Marcellus$188,190 $197,513 SCOOP23,436 24,137 Total unproved properties$211,626 $221,650 Asset Retirement ObligationThe following table provides a reconciliation of the Company’s asset retirement obligation for the six months ended June 30, 2025 and 2024 (in thousands):Six Months Ended June 30, 2025Six Months Ended June 30, 2024Asset retirement obligation, beginning of period$32,949 $29,941 Liabilities incurred222 375 Liabilities settled(1,673)— Accretion expense1,205 1,122 Total asset retirement obligation, end of period$32,703 $31,438 

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4.LONG-TERM DEBT

Long-term debt consisted of the following items as of June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025December 31, 20246.750% senior unsecured notes due 2029$650,000 $650,000 8.0% senior unsecured notes due 2026— 25,702 Credit Facility due 202855,000 38,000 Net unamortized debt issuance costs(9,846)(10,845)Total