Gulfport Energy Corporation (the "Company" or "Gulfport") is an independent natural gas-weighted exploration and production company focused on the exploration, acquisition and production of natural gas, crude oil and NGL in the United States with primary focus in the Appalachia and Anadarko basins. The Company's principal properties are located in eastern Ohio targeting the Utica and Marcellus and in central Oklahoma targeting the SCOOP Woodford and Springer formations.

This Quarterly Report on Form 10-Q (this “Form 10-Q”) relates to the financial position as of June 30, 2025, the results of operations for the three and six months ended June 30, 2025 and 2024 and the cash flows for the six months ended June 30, 2025 and 2024. The Company's annual report on Form 10-K for the year ended December 31, 2024, should be read in conjunction with this Form 10-Q. The accompanying unaudited consolidated financial statements reflect all normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of our condensed consolidated financial statements and accompanying notes and include the accounts of our wholly-owned subsidiaries. Intercompany accounts and balances have been eliminated. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern.

In December 2023, the FASB issued ASU 2023-09, Income Taxes: Improvements to Income Tax Disclosures (Topic 740). The amendment requires entities to disclose on an annual basis additional categories of information about federal, state, and foreign income taxes in the rate reconciliation table and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. The ASU is effective for annual periods beginning after December 15, 2024, and the resulting new annual disclosure requirements will be reflected in our annual report on Form 10-K for the year ending December 31, 2025.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. The Company is currently evaluating the impact that the adoption of this accounting standard will have on its financial disclosures.


	June 30, 2025		December 31, 2024
Revenue payable and suspense	$	138,545	$	139,703
Accounts payable	58,998		34,668
Accrued capital expenditures	47,312		20,229
Accrued transportation, gathering, processing and compression	36,280		36,170
Other accrued liabilities	54,496		67,311
Total accounts payable and accrued liabilities	$	335,631	$	298,081


	Six Months Ended June 30, 2025		Six Months Ended June 30, 2024
Supplemental disclosure of cash flow information:
Interest payments, net of amounts capitalized	$	23,191	$	28,263
Income taxes paid	$	2,400	$	—
Changes in operating assets and liabilities, net:
Accounts receivable - oil, natural gas, and natural gas liquid sales	$	27,328	$	28,133
Accounts receivable - joint interest and other	(3,021)		1,011
Accounts payable and accrued liabilities	(17,329)		(37,017)
Prepaid expenses	(3,060)		(649)
Other assets	(41)		31
Total changes in operating assets and liabilities, net	$	3,877	$	(8,491)
Supplemental disclosure of non-cash transactions:
Capitalized stock-based compensation	$	3,105	$	2,830
Asset retirement obligation capitalized	222		375
Asset retirement obligation removed due to settlements	(1,030)		—
Release of common stock held in reserve	—		1,996