GPOR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Resignation of John Reinhart, as President, Chief Executive Officer and Director

• On March 6, 2026, our President, Chief Executive Officer (“CEO”) and Director, John Reinhart, elected to depart the Company and resigned from our Board of Directors, effective immediately. Following his departure, our Board of Directors established an Office of the Chairman to assume executive overs…

• On May 1, 2026, the Company completed its semi-annual borrowing base redetermination under its Credit Facility during which the borrowing base was reaffirmed at $1.1 billion and elected commitments were increased to $1.1 billion.

• In 2025 and 2026, the U.S. government threatened, announced and, in certain cases, rescinded, tariffs on several foreign jurisdictions and imports into the United States, which led, and may continue to lead, to the imposition of retaliatory tariffs and other measures taken by foreign jurisdictions. …

• Ongoing geopolitical instability, including the conflict involving Iran and heightened tensions in the Middle East, has contributed to increased volatility in global energy markets. While the Company does not have operations or assets in the affected regions, these events may impact commodity prices…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• On October 30, 2025, Gulfport completed its semi-annual borrowing base redetermination under its Credit Facility during which the borrowing base was reaffirmed at $1.1 billion with elected commitments remaining at $1.0 billion.

• On August 4, 2025, the Company's Board of Directors approved an increase to the authorized Repurchase Program from $1.0 billion to $1.5 billion (including the redemption of preferred stock noted below) and extended the authorization through December 31, 2026.

• On August 5, 2025, Gulfport issued a notice of redemption for its preferred stock for cash. During the period between the date of notice of the redemption and the Redemption Date, 28,907 shares of preferred stock were converted into approximately 2.1 million shares of common stock. On the Redemption…

• Since the initial U.S. government announcement regarding tariffs in April 2025, the U.S. government has implemented and subsequently announced and modified, delayed or rescinded multiple tariffs on several foreign jurisdictions, which has increased uncertainty regarding the ultimate effect of the ta…

• On July 4, 2025, the President signed into law the legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”), which introduces significant changes to U.S. federal tax law. Key provisions of the OBBBA that are relevant to the Company include modifications to the limitations on the …

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Our hedge arrangements may expose us to risk of financial loss in certain circumstances, including instances where production is less than expected or commodity prices increase. At March 31, 2026, we had a net asset derivative position of $70.6 million as compared to a net asset derivative position …

• Interest Rate Risk. Our Credit Facility is structured under floating rate terms, as advances under these facilities may be in the form of either base rate loans or term benchmark loans. As such, our interest expense is sensitive to fluctuations in the prime rates in the United States, or, if the ter…

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• •Call Options: We sell, and occasionally buy, call options in exchange for a premium. At the time of settlement, if the market price exceeds the fixed price of the call option, we pay the counterparty the excess on sold call options, and we would receive the excess on bought call options. If the mar…

• Our hedge arrangements may expose us to risk of financial loss in certain circumstances, including instances where production is less than expected or commodity prices increase. At September 30, 2025, we had a net asset derivative position of $0.2 million as compared to a net liability derivative po…

• Interest Rate Risk. Our Credit Facility is structured under floating rate terms, as advances under these facilities may be in the form of either base rate loans or term benchmark loans. As such, our interest expense is sensitive to fluctuations in the prime rates in the United States, or, if the ter…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• On May 4, 2026, the Board of Directors appointed Domenic J. Dell’Osso, Jr. as President and Chief Executive Officer of the Company, effective as of May 28, 2026 (the “Effective Date”). Mr. Dell’Osso has more than 20 years of experience in the energy sector, with expertise in corporate strategy, capi…

• Upon Mr. Dell’Osso’s commencement of service as President and Chief Executive Officer, the Office of the Chairman will be discontinued and Timothy Cutt, Michael Hodges, Matthew Rucker and Patrick Craine will continue to serve in their roles as non-executive Chairman of the Board, Executive Vice Pres…

• In connection with Mr. Dell’Osso’s appointment as President and Chief Executive Officer of the Company, he and the Company entered into an Employment Agreement (the “Dell’Osso Employment Agreement”), effective as of the Effective Date. The Dell’Osso Employment Agreement provides for, among other thi…

• Under the Dell’Osso Employment Agreement, if Mr. Dell’Osso’s employment is terminated by the Company without Cause or if Mr. Dell’Osso resigns for Good Reason (each as defined in the Dell’Osso Employment Agreement), Mr. Dell’Osso will receive, subject to his execution and non-revocation of a release…

• In addition, in connection with Mr. Dell’Osso’s appointment as President and Chief Executive Officer of the Company, subject to approval by the Company’s Compensation Committee and contingent upon Mr. Dell’Osso commencing employment with the Company on May 28, 2026, Mr. Dell’Osso will be granted an …