Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 228

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 228
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 in the table below reflect cash payments for drilling and completions. Incurred capital expenditures and cash capital expenditures may vary from period to period due to the cash payment cycle. Cash capital expenditures for the year ended December 31, 2024 and 2023, were as follows (in thousands):

Year Ended December 31, 2024Year Ended December 31, 2023Oil and Natural Gas Property Cash Expenditures:Drilling and completion costs$325,129 $413,258 Leasehold acquisitions102,630 101,191 Other26,339 22,911 Total oil and natural gas property expenditures$454,098 $537,360 

Debt activity, net. During the year ended December 31, 2024, the Company had $956.0 million and $1.0 billion in borrowings and repayments, respectively, on its Credit Facility. In September 2024, the Company purchased $524.3 million of the 2026 Senior Notes in a tender offer. The retirement of the 2026 Senior Notes resulted in a loss on debt extinguishment of $13.4 million, which included cash costs of $12.9 million. The Company also issued $650.0 million aggregate principal amount of its 6.750% senior notes due 2029. As of February 20, 2025, the Company had $10.0 million in borrowings outstanding on its Credit Facility.

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Table of ContentsIndex to Financial Statements

Debt issuance and loan commitment fees. During the year ended December 31, 2024, the Company incurred debt issuance and loan commitment fees of $14.9 million, as compared to $7.1 million during the year ended December 31, 2023. The increase was primarily related to the issuance of the 2029 Senior Notes and the Fourth Amendment to the Credit Facility. See Note 4 of our consolidated financial statements for further discussion of the long-term debt activity.

Repurchases of common stock. During the year ended December 31, 2024, the Company repurchased 1.2 million shares for approximately $184.5 million under the Repurchase Program at a weighted average price of $153.35 per share. For the same period in 2023, the Company repurchased 1.5 million shares for $148.9 million at a weighted average price of $101.53 per share. As of