Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 86

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 86
---
 upon the Company’s analysis, the Company currently believes that it is more likely than not that a portion of the Company's federal and state deferred tax assets will be utilized. The Company has an $82.4 million valuation allowance associated with its federal and state deferred tax assets.The Company will continue to evaluate both the positive and negative evidence on a quarterly basis in determining the need for a valuation allowance with respect to the deferred assets. Changes in positive and negative evidence, including differences between estimated and actual results, could result in changes in the valuation of the deferred tax assets that could have a material impact on the consolidated financial statements. Changes in existing tax laws could also affect actual tax results and the realization of deferred tax assets over time.On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA"), which includes a broad range of tax reform provisions, was signed into law in the United States. The Company has completed its initial assessment of the OBBBA's provisions which are expected to affect the Company's current tax expense and deferred tax assets and liabilities. The Company has incorporated the provisions into the financial statements for the current period and is continuing to evaluate the full implications of these legislative changes.

32

15.RELATED PARTY TRANSACTIONS

Share Repurchase ProgramThe following table summarizes the Company's purchases of its common stock from Silver Point Capital, L.P. for the nine months ended September 30, 2024 and 2025 (dollar value of shares purchased shown in thousands):Date of TransactionShares RepurchasedRepurchase AmountClosing DateMarch 19, 202497,219$15,002 March 19, 2024September 19, 2024170,000$24,863 September 25, 2024May 14, 202576,986$15,000 May 20, 2025

The repurchases are part of the Company's existing Repurchase Program. Upon closing of the transactions, the repurchased common stock was canceled. 

16.SUBSEQUENT EVENTS 

Natural Gas, Oil and NGL Derivative InstrumentsSubsequent to September 30, 2025, as of October 29, 2025, the Company entered into the following derivative contracts:PeriodType of Derivative InstrumentIndexDaily VolumeWeightedAverage PriceNatural Gas(MMBtu/d)($/MMBtu)2026Basis SwapsTETCO M220,000 $(0.82)2027SwapsNYMEX Henry Hub10,000