GULFPORT ENERGY CORP
For the period ended Mar 31, 2026. Filed May 6, 2026.
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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, 2026 · Filed May 6, 2026
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.
Prior to the formation of the Office of the Chairman as discussed below, the CODM of the Company was its Chief Executive Officer. On March 6, 2026, the President, Chief Executive Officer (“CEO”) and Director, elected to depart the Company and resigned from the Board of Directors, effective immediately. Following the departure, the Board of Directors established an Office of the Chairman to assume executive oversight while the Company conducts a search for a permanent CEO. The Office of the Chairman is led by our Chairman of the Board and also includes the Chief Financial Officer, Chief Operating Officer and Chief Legal and Administrative Officer. The Office of the Chairman acts collectively as the CODM. The CODM is responsible for assessing performance and allocating resources on an entity-wide basis. The CODM evaluates performance and allocates 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 table presents selected financial information with respect to the Company'sone operating segment (in thousands):
| Three Months Ended March 31, 2026 | Three Months Ended March 31, 2025 | |
|---|---|---|
| Total revenues | $437,532 | $197,034 |
| Significant segment expenses | ||
| Lease operating expenses | 24,456 | 20,283 |
| Taxes other than income | 9,184 | 6,626 |
| Transportation, gathering, processing and compression | 90,567 | 82,870 |
| Depreciation, depletion, and amortization | 75,430 | 65,622 |
| General and administrative | 9,708 | 9,001 |
| Interest expense | 15,386 | 13,356 |
| Other segment expenses(1) | 2,296 | (84) |
| Income tax expense (benefit) | 44,683 | (176) |
| Total significant segment expenses | 271,710 | 197,498 |
| Net income (loss) | $165,822 | $(464) |
| Capital expenditures(2) | $168,919 | $170,025 |
(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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