Gulfport Energy Corporation reported its financial and operating results for the fourth quarter and full year ended December 31, 2024. For the fourth quarter, the company posted a net loss of $273.2 million, or $15.40 per share, on revenues of $239.9 million. However, adjusted earnings for the quarter were $4.80 per share, surpassing analyst estimates of $3.90 per share.
For the full year 2024, Gulfport recorded a net loss of $261.4 million, or $14.72 per share, with total revenues reaching $958.1 million. This represents a decrease from the $1,791.7 million in revenue reported for the full year 2023. A significant event impacting the full year results was an impairment of oil and natural gas properties totaling $342.7 million in Q4 2024, contributing to a total impairment of $373.2 million for the full year.
Net daily production for the fourth quarter of 2024 averaged 1,055.5 MMcfe per day, while full-year 2024 net daily production was 1,054.1 MMcfe per day, consistent with the 1,054.3 MMcfe per day in 2023. The company also provided its 2025 operational and financial guidance, forecasting average daily gas equivalent production between 1,040 and 1,065 MMcfe per day. Average daily liquids production is projected to be between 18.0 and 20.5 thousand barrels per day.
Capital expenditures for 2025 are guided at $335 million to $355 million for operated drilling and completion activities, with an additional $35 million to $40 million allocated to maintenance leasehold and land investment. The total base capital expenditures are expected to be between $370 million and $395 million, reflecting the company's planned development program.
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