GULFPORT ENERGY CORP
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
Contents
2. Segment Information
- SEGMENT INFORMATION
The Company's assets and operations consist ofone reportable segment with all revenues, operating expenses and assets attributable to this segment reflected in the consolidated financial statements. 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 income (loss), which is reported on the consolidated statement of operations.
The measure of segment assets is reported on the consolidated balance sheets as “total assets”.
The following tables present selected financial information with respect to the Company'sone operating segment for the three and nine months ended September 30, 2025 and 2024 (in thousands):
| Three Months Ended September 30, 2025 | Three Months Ended September 30, 2024 | |
|---|---|---|
| Total revenues | $379,745 | $253,912 |
| Significant segment expenses | ||
| Lease operating expenses | 20,793 | 18,218 |
| Taxes other than income | 7,925 | 6,833 |
| Transportation, gathering, processing and compression | 96,390 | 89,900 |
| Depreciation, depletion, and amortization | 83,216 | 82,825 |
| Impairment of oil and natural gas properties | — | 30,487 |
| General and administrative | 11,835 | 10,479 |
| Interest expense | 13,590 | 15,866 |
| Loss on debt extinguishment | — | 13,388 |
| Other segment expenses(1) | 3,193 | 3,716 |
| Income tax expense (benefit) | 31,410 | (3,833) |
| Total significant segment expenses | 268,352 | 267,879 |
| Net income (loss) | $111,393 | $(13,967) |
| Capital expenditures(2) | $106,072 | $110,756 |
(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.
| Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | |
|---|---|---|
| Total revenues | $1,024,395 | $718,258 |
| Significant segment expenses | ||
| Lease operating expenses | 58,704 | 50,843 |
| Taxes other than income | 22,107 | 22,111 |
| Transportation, gathering, processing and compression | 265,768 | 263,048 |
| Depreciation, depletion, and amortization | 222,481 | 241,401 |
| Impairment of oil and natural gas properties | — | 30,487 |
| General and administrative | 31,762 | 30,429 |
| Interest expense | 40,677 | 46,027 |
| Loss on debt extinguishment | — | 13,388 |
| Other segment expenses(1) | 4,597 | 5,235 |
| Income tax expense | 82,904 | 3,433 |
| Total significant segment expenses | 729,000 | 706,402 |
| Net income | $295,395 | $11,856 |
| Capital expenditures(2) | $415,639 | $393,563 |
(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.
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