Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 89

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 into law the legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”), which introduces significant changes to U.S. federal tax law. Key provisions of the OBBBA that are relevant to the Company include modifications to the limitations on the deductibility of interest expense under Section 163(j) of the Internal Revenue Code and adjustments to bonus depreciation rules.

2025 Operational and Financial Highlights

During the third quarter of 2025, we had the following notable achievements:

•Reported total net production of 1,119.7 MMcfe per day.

•Turned to sales seven gross (7.0 net) operated wells.

•Generated $209.1 million of operating cash flows.

•Executed optional redemption of outstanding preferred stock, simplifying our capital structure and eliminating future dividend obligations on the preferred stock.

•Repurchased 438,266 shares of common stock (including the underlying shares of common stock into which the preferred stock was convertible) for $76.3 million at a weighted average price of $174.01 per share.

•Exited the quarter with total liquidity of $903.7 million.

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2025 Production and Drilling Activity

Production Volumes

Three Months Ended September 30, 2025Three Months Ended September 30, 2024Natural gas (Mcf/day)Utica & Marcellus833,710 822,015 SCOOP154,035 144,507 Total987,746 966,522 Oil and condensate (Bbl/day)Utica & Marcellus5,485 3,105 SCOOP1,408 1,513 Total6,892 4,618 NGL (Bbl/day)Utica & Marcellus8,364 3,491 SCOOP6,733 6,998 Total15,097 10,489 Combined (Mcfe/day)Utica & Marcellus916,801 861,592 SCOOP202,877 195,572 Total1,119,678 1,057,164 Totals may not sum or recalculate due to rounding.

Our total net production averaged approximately 1,119.7 MMcfe per day during the three months ended September 30, 2025, as compared to 1,057.2 MMcfe per day during the three months ended September 30, 2024. Production per day increased primarily due to the timing of our