Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 14

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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. During the three months ended March 31, 2025, the Company repurchased 340,664 shares for approximately $60.0 million under the Repurchase Program at a weighted average price of $176.13 per share. For the same period in 2024, the Company repurchased 210,075 shares for $29.5 million at a weighted average price of $140.39 per share. As of April 30, 2025, we repurchased 5,954,014 shares for approximately $651.6 million under the Repurchase Program at a weighted average price of $109.44 per share. 

Dividends on preferred stock. During the three months ended March 31, 2025, the Company paid $0.9 million of cash dividends to holders of our preferred stock compared to $1.1 million in the three months ended March 31, 2024.

Shares exchanged for tax withholdings. During the three months ended March 31, 2025, the Company paid $3.0 million of shares exchanged for tax withholdings compared to $1.1 million in the three months ended March 31, 2024.

35

Contractual and Commercial Obligations

We have various contractual obligations in the normal course of our operations and financing activities, as discussed in Note 9 of our consolidated financial statements. There have been no other material changes to our contractual obligations from those disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024.    

Off-balance Sheet Arrangements

We may enter into off-balance sheet arrangements and transactions that can give rise to material off-balance sheet obligations. As of March 31, 2025, our material off-balance sheet arrangements and transactions include $63.9 million in letters of credit outstanding against our Credit Facility and $44.9 million in surety bonds issued. Both the letters of credit and surety bonds are being used as financial assurance, primarily on certain firm transportation agreements. Additionally, the Company entered into various contractual commitments to purchase inventory and other material to be used in future activities. The Company's commitment to purchase these materials continues through 2025, with approximately $4.1 million remaining. There are no other transactions, arrangements or other relationships with unconsolidated entities or other persons that are reasonably likely to materially affect our liquidity or availability of our capital resources. See Note 9 of our consolidated financial statements for further