Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 74

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 74
---

We recognize fair value changes on our natural gas, oil and NGL derivative instruments in each reporting period. The changes in fair value resulted from new positions and settlements that occurred during each period, as well as the relationship between contract prices and the associated forward curves. The change in the total gain (loss) for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, was primarily the result of changes in futures pricing for oil, natural gas, and NGLs during each period. See Note 10 of our consolidated financial statements for hedged volumes and pricing.

30

Lease Operating Expenses (in thousands, except per unit)

Three Months Ended March 31, 2025Three Months Ended March 31, 2024% ChangeLease operating expensesUtica & Marcellus$13,592 $10,764 26 %SCOOP6,691 6,044 11 %Total lease operating expenses$20,283 $16,808 21 %Lease operating expenses per McfeUtica & Marcellus$0.21 $0.14 45 %SCOOP0.38 0.30 26 %Total lease operating expenses per Mcfe$0.24 $0.18 38 %

The increase in our total and per unit LOE for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, was primarily the result of an increase in water hauling, labor and costs associated with winter weather operations. 

Taxes Other Than Income (in thousands, except per unit)

Three Months Ended March 31, 2025Three Months Ended March 31, 2024% ChangeProduction taxes$5,438 $5,047 8 %Property taxes428 2,609 (84)%Other760 604 26 %Total taxes other than income$6,626 $8,260 (20)%Total taxes other than income per Mcfe$0.08 $0.09 (8)%

The decrease in total and per unit taxes other than income for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, was primarily related to a decrease in property taxes.

Transportation, Gathering, Processing and Compression (in thousands, except per unit)

Three Months Ended March 31,