GULFPORT ENERGY CORP
For the period ended Mar 31, 2024. Filed May 1, 2024.
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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.
Mar 31, 2024 · Filed May 1, 2024
GPOR$161.91+4.1%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Three Months Ended March 31, 2024 | Three Months Ended March 31, 2023 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | $52,035 | $523,054 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depletion, depreciation and amortization | 80,023 | 79,094 |
| Net gain on derivative instruments | (45,136) | (378,061) |
| Net cash receipts on settled derivative instruments | 65,322 | 367 |
| Deferred income tax expense | 14,853 | — |
| Stock-based compensation expense | 2,403 | 2,205 |
| Other, net | 1,568 | 2,637 |
| Changes in operating assets and liabilities, net | 16,954 | 74,759 |
| Net cash provided by operating activities | 188,022 | 304,055 |
| Cash flows from investing activities: | ||
| Additions to oil and natural gas properties | (118,146) | (130,400) |
| Proceeds from sale of oil and natural gas properties | — | 2,463 |
| Other, net | (806) | (644) |
| Net cash used in investing activities | (118,952) | (128,581) |
| Cash flows from financing activities: | ||
| Principal payments on Credit Facility | (303,000) | (313,000) |
| Borrowings on Credit Facility | 272,000 | 168,000 |
| Debt issuance costs and loan commitment fees | (107) | (7) |
| Dividends on preferred stock | (1,105) | (1,307) |
| Repurchase of common stock under Repurchase Program | (14,491) | (32,672) |
| Repurchase of common stock under Repurchase Program - related party | (15,002) | — |
| Shares exchanged for tax withholdings | (1,085) | (287) |
| Net cash used in financing activities | (62,790) | (179,273) |
| Net change in cash and cash equivalents | 6,280 | (3,799) |
| Cash and cash equivalents at beginning of period | 1,929 | 7,259 |
| Cash and cash equivalents at end of period | $8,209 | $3,460 |
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