Annual report pursuant to Section 13 and 15(d)

Accounts Receivable - Related Parties

Accounts Receivable - Related Parties
12 Months Ended
Dec. 31, 2013
Receivables [Abstract]  
Accounts Receivable - Related Parties
Included in the accompanying consolidated balance sheets as of December 31, 2013 and 2012 are amounts receivable from related parties of the Company. These receivables consist primarily of amounts billed by the Company to related parties as operator of such parties' Ohio and Colorado oil and natural gas properties. At December 31, 2013 and 2012, these receivables totaled $2.6 million and $34.8 million, respectively.
Effective April 1, 2010, the Company entered into an area of mutual interest agreement with Windsor Niobrara LLC (“Windsor Niobrara”), an entity in which Gulfport's former Chairman is the operating member and holds a 10% contingent participating interest, to jointly acquire oil and gas leases on certain lands located in Northwest Colorado for the purpose of exploring, exploiting and producing oil and gas from the Niobrara Formation. The agreement provides that each party must offer the other party the right to participate in such acquisitions on a 50%/50% basis. The parties also agreed, subject to certain exceptions, to share third-party costs and expenses in proportion to their respective participating interests and pay certain other fees as provided in the agreement. In connection with this agreement, Gulfport and Windsor Niobrara also entered into a development agreement, effective as of April 1, 2010, pursuant to which the Company and Windsor Niobrara agreed to jointly develop the contract area, and Gulfport agreed to act as the operator under the terms of a joint operating agreement.
For the year ended December 31, 2011, the Company was reimbursed approximately $66,000 by Orange Leaf Holdings, LLC, a company controlled by Gulfport's prior Chairman, for office space which is included in other income (expense) in the consolidated statements of operations.