GULFPORT ENERGY CORP

For the period ended Jun 30, 2024. Filed Aug 7, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 7, 2024

GPOR$155.50+3.7%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Operations

	Three Months Ended June 30, 2024	Three Months Ended June 30, 2023
REVENUES:
Natural gas sales	$144,458	$159,246
Oil and condensate sales	19,127	22,602
Natural gas liquid sales	26,147	26,070
Net (loss) gain on natural gas, oil and NGL derivatives	(8,615)	96,788
Total revenues	181,117	304,706
OPERATING EXPENSES:
Lease operating expenses	15,817	16,155
Taxes other than income	7,018	7,938
Transportation, gathering, processing and compression	86,529	85,664
Depreciation, depletion and amortization	78,553	80,148
General and administrative expenses	10,752	8,611
Restructuring costs	—	2,893
Accretion expense	567	714
Total operating expenses	199,236	202,123
(LOSS) INCOME FROM OPERATIONS	(18,119)	102,583
OTHER EXPENSE (INCOME):
Interest expense	15,158	13,727
Other, net	522	(4,831)
Total other expense	15,680	8,896
(LOSS) INCOME BEFORE INCOME TAXES	(33,799)	93,687
INCOME TAX BENEFIT:
Current	—	—
Deferred	(7,587)	—
Total income tax benefit	(7,587)	—
NET (LOSS) INCOME	$(26,212)	$93,687
Dividends on preferred stock	(1,095)	(1,278)
Participating securities - preferred stock	—	(14,044)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$(27,307)	$78,365
NET (LOSS) INCOME PER COMMON SHARE:
Basic	$(1.51)	$4.23
Diluted	$(1.51)	$4.18
Weighted average common shares outstanding—Basic	18,144	18,518
Weighted average common shares outstanding—Diluted	18,144	18,805

CONSOLIDATED STATEMENTS OF OPERATIONS

	Six Months Ended June 30, 2024	Six Months Ended June 30, 2023
REVENUES:
Natural gas sales	$332,744	$441,780
Oil and condensate sales	40,828	53,316
Natural gas liquid sales	54,253	65,982
Net gain on natural gas, oil and NGL derivatives	36,521	474,849
Total revenues	464,346	1,035,927
OPERATING EXPENSES:
Lease operating expenses	32,625	36,017
Taxes other than income	15,278	18,633
Transportation, gathering, processing and compression	173,148	173,281
Depreciation, depletion and amortization	158,576	159,242
General and administrative expenses	19,950	17,344
Restructuring costs	—	4,762
Accretion expense	1,122	1,478
Total operating expenses	400,699	410,757
INCOME FROM OPERATIONS	63,647	625,170
OTHER EXPENSE (INCOME):
Interest expense	30,161	27,483
Other, net	397	(19,054)
Total other expense	30,558	8,429
INCOME BEFORE INCOME TAXES	33,089	616,741
INCOME TAX EXPENSE:
Current	—	—
Deferred	7,266	—
Total income tax expense	7,266	—
NET INCOME	$25,823	$616,741
Dividends on preferred stock	(2,200)	(2,585)
Participating securities - preferred stock	(3,469)	(92,611)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$20,154	$521,545
NET INCOME PER COMMON SHARE:
Basic	$1.11	$27.91
Diluted	$1.09	$27.60
Weighted average common shares outstanding—Basic	18,169	18,688
Weighted average common shares outstanding—Diluted	18,573	18,930

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.