Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 442

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 442
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 in the reserve report by examining historical conversion rates and support for the Company’s ability to fund and intent to develop the proved undeveloped properties; and

◦Applied analytical procedures to the reserve report by comparing to historical actual results and to the prior year’s reserve report.

/s/ GRANT THORNTON LLP

We have served as the Company's auditor since 2005.

Oklahoma City, Oklahoma

February 26, 2025 

59

Table of ContentsIndex to Financial Statements

GULFPORT ENERGY CORPORATION 

CONSOLIDATED BALANCE SHEETS

(In thousands)December 31, 2024December 31, 2023AssetsCurrent assets:Cash and cash equivalents$1,473 $1,929 Accounts receivable—oil, natural gas, and natural gas liquids sales155,942 122,479 Accounts receivable—joint interest and other8,727 22,221 Prepaid expenses and other current assets7,086 16,951 Short-term derivative instruments58,085 233,226 Total current assets231,313 396,806 Property and equipment:Oil and natural gas properties, full-cost methodProved oil and natural gas properties3,349,805 2,904,519 Unproved properties221,650 204,233 Other property and equipment11,291 9,165 Total property and equipment3,582,746 3,117,917 Less: accumulated depletion, depreciation, amortization and impairment(1,564,475)(865,618)Total property and equipment, net2,018,271 2,252,299 Other assets:Long-term derivative instruments6,003 47,566 Deferred tax asset581,233 525,156 Operating lease assets6,099 14,299 Other assets22,778 31,487 Total other assets616,113 618,508 Total assets$2,865,697 $3,267,613 Liabilities, Mezzanine Equity and Stockholders’ EquityCurrent liabilities:Accounts payable and accrued liabilities$298,081 $309,532 Short-term derivative instruments41,889 21,963 Current portion of operating lease liabilities5,538 12,959 Total current liabilities345,508 344,454 Non-current liabilities:Long-term derivative instruments35,081 18,602 Asset retirement obligation32,949 29,941 Non-current operating lease