Company: GPOR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-022951
Chunk: 90

Company: GULFPORT ENERGY CORP
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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. The Company derives its revenue from the sale of natural gas, oil and condensate and NGL produced from its oil and natural gas properties located in the United States.The CODM of the Company is its Chief Executive Officer. The CODM assesses entity-wide operating results and performance and decides how to allocate resources based on net (loss) income, which is reported on the consolidated statement of operations.  The measure of segment assets is reported on the consolidated balance sheets as “total assets”.

9

The following table presents selected financial information with respect to the Company's one operating segment for the three months ended March 31, 2025 and 2024 (in thousands):Three Months Ended March 31, 2025Three Months Ended March 31, 2024Total revenues$197,034 $283,229 Significant segment expensesLease operating expenses20,283 16,808 Taxes other than income6,626 8,260 Transportation, gathering, processing and compression82,870 86,619 Depreciation, depletion, and amortization65,622 80,023 General and administrative9,001 9,198 Interest expense13,356 15,003 Other segment expenses(1)(84)430 Income tax (benefit) expense(176)14,853 Total significant segment expenses197,498 231,194 Net (loss) income$(464)$52,035 Capital expenditures(2)$170,025 $133,075 _____________________(1)    Other segment expenses include “Accretion expense” and “Other, net” from the consolidated statements of operations.(2)    Capital expenditures include capitalized general and administrative costs and capitalized interest expense.

3.PROPERTY AND EQUIPMENT

The major categories of property and equipment and related accumulated DD&A are as follows (in thousands):March 31, 2025December 31, 2024Proved oil and natural gas properties$3,524,497 $3,349,805 Unproved properties215,154 221,650 Other depreciable property and equipment11,448 10,905 Land386 386 Total property and equipment3,751,485 3,582,746 Accumulated DD&A and impairment(1,630,039)(1,564,475)Property and equipment, net$2,121,446 $2,018,271 Oil and Natural Gas