Company: GPOR
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038172
Chunk: 51

Company: GULFPORT ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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, are necessary for a fair statement of our condensed consolidated financial statements and accompanying notes and include the accounts of our wholly-owned subsidiaries. Intercompany accounts and balances have been eliminated. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern.Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures (Topic 740). The amendment requires entities to disclose on an annual basis additional categories of information about federal, state, and foreign income taxes in the rate reconciliation table and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024, and the resulting new annual disclosure requirements will be reflected in our annual report on Form 10-K for the year ending December 31, 2025.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact that the adoption of this accounting standard will have on its financial disclosures.

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Accounts Payable and Accrued LiabilitiesAccounts payable and accrued liabilities consisted of the following (in thousands):June 30, 2025December 31, 2024Revenue payable and suspense$138,545 $139,703 Accounts payable58,998 34,668 Accrued capital expenditures47,312 20,229 Accrued transportation, gathering, processing and compression36,280 36,170 Other accrued liabilities54,496 67,311 Total accounts payable and accrued liabilities$335,631 $298,081 Supplemental Cash Flow and Non-Cash Information (in thousands)Six Months Ended June 30, 2025Six Months Ended June 30, 2024Supplemental disclosure of cash flow information:Interest payments, net of amounts capitalized$23,191 $28,263 Income taxes paid$2,400 $— Changes in operating assets and