Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 225

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 225
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25,702 $688,000 $— Interest220,923 44,481 88,692 87,750 — Firm transportation and gathering contracts(2)1,147,946 140,434 270,729 273,366 463,417 Other operational commitments(3)13,791 13,791 — — — Operating lease liabilities(4)6,228 5,657 571 — — Total contractual cash obligations(5)$2,102,590 $204,363 $385,694 $1,049,116 $463,417 _____________________ 

(1)    The maturities of our debt obligations and associated interest reflect their original expiration dates and do not reflect any acceleration due to any events of default pertaining to these obligations. See Note 4 of our consolidated financial statements for a description of our long-term debt.

(2)    See Note 17 of our consolidated financial statements for further discussion of our firm transportation and gathering commitments.

(3)    See Note 17 of our consolidated financial statements for a description of our other operational commitments.

(4)    See Note 9 of our consolidated financial statements for a description of our operating lease liabilities.

(5)    This table does not include derivative liabilities or the estimated discounted cost for future abandonment of oil and natural gas properties. See Notes 12 and 3 of our consolidated financial statements, respectively.

Off-balance Sheet Arrangements. We may enter into off-balance sheet arrangements and transactions that can give rise to material off-balance sheet obligations. As of December 31, 2024, our material off-balance sheet arrangements and transactions include $63.8 million in letters of credit outstanding against our Credit Facility and $44.9 million in surety bonds issued. Both the letters of credit and surety bonds are being used as financial assurance, primarily for certain firm transportation agreements. Additionally, the Company entered into various contractual commitments to purchase inventory and other material to be used in future activities. The Company's commitment to purchase these materials exists through 2025, with approximately $13.8 million remaining. There are no other transactions, arrangements or other relationships with unconsolidated entities or other persons that are reasonably likely to materially affect our liquidity or availability of our capital resources. See Note 17 of our consolidated financial statements for further discussion of the various financial guarantees we have issued.