Company: GPOR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000874499-25-000006
Chunk: 5

Company: GULFPORT ENERGY CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 5
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 2024% ChangeNatural gas$236,801 $159,862 48 %Oil and condensate37,406 29,467 27 %NGL38,734 26,617 46 %Natural gas, oil and condensate and NGL sales$312,941 $215,946 45 %

The increase in natural gas sales without the impact of derivatives, when comparing the three months ended September 30, 2025 to the three months ended September 30, 2024 was due to a 45% increase in realized prices and a 2% increase in sales volumes. The realized price change was primarily driven by the increase in the average Henry Hub gas index from $2.16 per Mcf in the three months ended September 30, 2024, to $3.07 per Mcf during the three months ended September 30, 2025. The 2% increase in natural gas production was primarily due to commencement of sales on new wells.

The increase in oil and condensate sales without the impact of derivatives, when comparing the three months ended September 30, 2025 to the three months ended September 30, 2024, was due to a 49% increase in sales volumes, partially offset by a 15% decrease in realized prices. The 49% increase in oil and condensate production was primarily due to commencement of sales on new wells targeting the Utica and Marcellus liquids windows. The realized price change was primarily driven by the decrease in the average WTI crude index from $75.09 per barrel in the three months ended September 30, 2024, to $64.93 per barrel during the three months ended September 30, 2025.

The increase in NGL sales without the impact of derivatives, when comparing the three months ended September 30, 2025 to the three months ended September 30, 2024, was due to a 44% increase in sales volumes and a 1% increase in realized prices. The 44% increase in NGL production was primarily due to commencement of sales on new wells targeting the Utica and Marcellus liquids windows.

Natural Gas, Oil and NGL Derivatives (in thousands)

Three Months Ended September 30, 2025Three Months Ended September 30, 2024Natural gas derivatives - fair value gains (losses)$33,868 $(57,168)Natural gas derivatives