GULFPORT ENERGY CORP

Listed Company

GPORCIK 0000874499NYSELarge AcceleratedCrude Petroleum & Natural GasFY ends Dec 31

Period

FY 2025

Revenue

$1.42B

Net Income

$427.81M

Total Assets

$3.03B

Equity

$1.83B

Shares Out

18.56M

Op. Cash Flow

$803.19M

Business

Gulfport Energy Corp is an independent, natural gas-weighted exploration and production company operating primarily in the Appalachian and Anadarko basins. The company explores for, develops, drills, completes and produces natural gas, oil and natural gas liquids (NGLs) and provides marketing and midstream-related services. Its primary operating areas and business divisions include the Utica/Marcellus and SCOOP plays, reserve engineering and development planning, drilling and completion operations, and commodity marketing activities. Gulfport markets production through spot and term sales and utilizes long‑term gathering, processing and transportation contracts to distribute its hydrocarbons within U.S. midstream and end‑use markets.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2020 2020-12-31
Net gain on natural gas, oil and NGL derivatives	99	30	740	−1,000	65
Total revenues	1,423	958	1,792	1,331	867
Lease operating expenses	84	70	69	65	54
Taxes other than income	30	30	34	60	29
Transportation, gathering, processing and compression	359	351	349	357	456
Depreciation, depletion and amortization	304	326	320	268	240
Impairment of oil and natural gas properties	0	373	0	0	1,400
General and administrative expenses	42	43	39	35	59
Restructuring costs	0	0	5	0	31
Accretion expense	2	2	3	3	3
Total operating expenses	822	1,195	817	788	2,229
INCOME (LOSS) FROM OPERATIONS	600	−237	975	543	−1,363
Interest expense	54	60	57	60	—
Loss on debt extinguishment	0	13	0	0	−50
Other, net	3	7	−28	−11	21
Total other expense	57	81	29	48	255
INCOME (LOSS) BEFORE INCOME TAXES	543	−317	946	495	−1,618
Current	0	0	0	0	—
Deferred	115	−56	−525	0	—
Total income tax expense (benefit)	116	−56	−525	0	7
NET INCOME (LOSS)	428	−261	1,471	495	−1,625
Dividends on preferred stock	−2	−4	−5	−5	0
Deemed dividend on preferred stock	−30	0	0	—	—
Participating securities - preferred stock	0	0	−212	−76	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	396	−266	1,254	413	−1,625
Basic (in dollars per share)	21.74	−14.72	67.24	20.45	−10.14
Diluted (in dollars per share)	21.48	−14.72	66.46	20.32	−10.14
Weighted average common shares outstanding - Basic (shares)	18	18	19	20	160
Weighted average common shares outstanding - Diluted (shares)	18	18	19	20	160

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	1	2	7	3
Accounts receivableoil, natural gas, and natural gas liquids sales	185	156	123	278	233
Accounts receivablejoint interest and other	9	9	22	21	20
Prepaid expenses and other current assets	8	7	17	8	12
Short-term derivative instruments	45	58	233	88	5
Total current assets	249	231	397	402	274
Proved oil and natural gas properties	3,903	3,350	2,905	2,419	1,918
Unproved properties	233	222	204	179	211
Other property and equipment	13	11	9	6	5
Total property and equipment	4,149	3,583	3,118	2,604	2,134
Less: accumulated depletion, depreciation, amortization and impairment	−1,868	−1,564	−866	−546	−278
Total property and equipment, net	2,280	2,018	2,252	2,058	1,856
Long-term derivative instruments	15	6	48	27	19
Deferred tax asset	466	581	525	0	—
Operating lease assets	561,000	6	14	27	322,000
Other assets	19	23	31	21	20
Total other assets	501	616	619	74	39
Total assets	3,030	2,866	3,268	2,534	2,168
Accounts payable and accrued liabilities	342	298	310	437	394
Short-term derivative instruments	22	42	22	344	241
Current portion of operating lease liabilities	550,000	6	13	12	182,000
Total current liabilities	365	346	344	793	635
Long-term derivative instruments	9	35	19	118	185
Asset retirement obligation	33	33	30	33	28
Non-current operating lease liabilities	10,000	561,000	1	14	140,000
Long-term debt	788	703	667	694	713
Total non-current liabilities	830	771	717	860	926
Total liabilities	1,195	1,117	1,062	1,653	1,561
Commitments and contingencies (Notes 17 and 18)	—	—	—	—	—
Preferred stock - $0.0001 par value, 110.0 thousand shares authorized, 0 issued and outstanding at December 31, 2025, and 37.3 thousand issued and outstanding at December 31, 2024	0	37	44	52	58
Common stock - $0.0001 par value, 42.0 million shares authorized, 18.8 million issued and outstanding at December 31, 2025, and 17.8 million issued and outstanding at December 31, 2024	2,000	2,000	2,000	2,000	2,000
Additional paid-in capital	0	129	316	449	693
Retained earnings	1,835	1,582	1,848	382	−113
Total stockholders equity	1,835	1,711	2,162	829	549
Total liabilities, mezzanine equity and stockholders equity	3,030	2,866	3,268	2,534	2,168

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2020 2020-12-31
Net gain on derivative instruments	−99	−30	−740	1,000	−65
Net cash receipts on settled derivative instruments	56	283	152	−1,054	159
Stock-based compensation expense	12	11	9	6	—
Other, net	9	6	8	6	32
Changes in operating assets and liabilities, net	−22	−15	29	19	7
Net cash provided by operating activities	803	650	723	739	95
Additions to oil and natural gas properties	−528	−454	−537	−461	−367
Proceeds from sale of oil and natural gas properties	150,000	225,000	3	3	51
Other, net	−2	−2	−3	−875,000	2
Net cash used in investing activities	−529	−456	−537	−458	−315
Issuance of 2029 Senior Notes	0	650	0	0	—
Early retirement of 2026 Senior Notes	−26	−524	0	0	—
Premium paid on 2026 Senior Notes	0	−13	0	0	—
Debt issuance costs and loan commitment fees	−35,000	−15	−7	−234,000	−3
Dividends on preferred stock	−2	−4	−5	−5	0
Redemption of preferred stock	−32	0	0	—	—
Net cash payments on performance vesting restricted stock units	−12	0	0	—	—
Shares exchanged for tax withholdings	−6	−24	−3	−2	—
Other, net	−9,000	−3,000	−4,000	0	−2
Net cash used in financing activities	−274	−194	−191	−277	303
Net change in cash and cash equivalents	340,000	−456,000	−5	4	84

Filings

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